Student loan default rates raise concerns - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Student loan default rates raise concerns

FRANKFORT, Ky. (AP) - Of the 81 Kentucky schools eligible for federal student loan programs, 35 showed a 3-year default rate that was higher than the national average of 13.8%, according to a published report citing federal data.

The state's worst default rates are found at private, for-profit "career colleges" and several campuses of the Kentucky Community and Technical College System, the Lexington Herald-Leader reports.

For-profit schools tend to cost more than taxpayer-supported community colleges and put students deeper in debt.

Donald and Stacey Lee racked up about $70,000 in federal insured student loans while attending private, for-profit Daymar College's campus in Paducah.

They quit school last year because of day care problems with their son and defaulted on the loans. They find themselves buried in debt.

 

Information from: Lexington Herald-Leader, http://www.kentucky.com'>http://www.kentucky.com'>http://www.kentucky.com'>http://www.kentucky.com

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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