Loan default rates drop at Massachusetts community colleges
BOSTON (AP) — New federal data show that the percentage of Massachusetts community college students in default on their student loans has dropped significantly for the first time in three years.
The Boston Globe (http://bit.ly/1Ly3L56 ) reports that default rates have been high for students who graduated during or shortly after the recession, but experts think the rate is dropping because the economy has improved and because colleges better educating students about debt.
The latest data represent students who began repaying their loans in 2012 and defaulted in 2012, 2013, or 2014.
The schools that saw the largest improvement were Greenfield Community College, where the default rate declined from 22 percent to 15 percent, and Mount Wachusett Community College in Gardner, where the default rate dropped from 18 percent to 11 percent.
Information from: The Boston Globe, http://www.bostonglobe.com