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Missouri student loan default rate increases

Friday, September 16, 2011 | 8:01 a.m. CDT; updated 9:25 a.m. CDT, Friday, September 16, 2011

JEFFERSON CITY — More Missourians are defaulting on their student loans.

The Department of Higher Education said Missouri's default rate rose from 5.8 percent in 2008 to 7.6 percent in 2009. However, officials said the default rate in Missouri was less than the national average of 8.8 percent.

The department said more than 84,000 people in Missouri were paying back student loans, with about 6,500 in default. Those figures count borrowers whose first loan payments were due between October 2008 and September 2009 and who stopped making payments by the end of last September.

 


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