The overall three-year cohort default rate on federal student loans dropped in newly released data, marking the third straight year the rate has fallen, the U.S. Department of Education announced on Wednesday.
The percentage of borrowers who defaulted on federal loans within three years of entering repayment dropped from 11.8 percent to 11.3 percent for those who started repayment between the 2012 and 2013 fiscal years.
Read more at The Chronicle of Higher Education: http://www.chronicle.com/blogs/ticker/national-default-rate-on-student-loans-declines-for-third-straight-year/114746