State officials fret over Minnesota student loan defaults
More than 9,500 higher education students in Minnesota have defaulted on federal student loans in the past three years, new data from the U.S. Department of Education shows, the Star Tribune reports. The overall default rate is lower than the national average, but state officials are still eyeing the statistics with concern.
Nationwide, student loan default rates are higher than in Minnesota, the Star Tribune reports. But the newspaper says state officials are still worried: more than 9,500 higher education students in the state have defaulted in the past three years, new data from the U.S. Department of Education shows.
Several schools have especially troubling statistics: Rasmussen College and Capella University have more students in default than all of the private schools combined.
A report released last week showed that Minnesota has the third-highest total average student loan debt in the nation.
