The worst state for student loan defaults

Is also home of the largest for-profit university.  Hmmmm.

The worst state for student loan defaults
At 10.9%, Arizona has the highest rate of default on federal student loans in the country, says the U.S. Department of Education.

Between 2007 and 2008, about 24,531 borrowers defaulted on loans within two years after their first repayments came due. These borrowers attended 90 colleges in Arizona.

The worst offenders: students attending for-profit colleges. The state’s default rate could be so high because it’s home to the University of Phoenix – where 70% of defaulting borrowers attended.

On the other hand, Arizona’s public universities have some of the lowest default rates in the state (4% for the University of Arizona).

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