Florida’s student loan default rate is 10.5 percent for students who were supposed to start repaying their college loans in 2009, according to data released by the federal government Monday.
Florida has the eighth worst student loan default rate for students whose first loan payments were due between Oct. 1, 2008 and Sept. 30, 2009.
Student loan default rates are a good indicator of the health of the economy, though some may also point to rising tuition. When students cannot repay their loans it is often because they are unemployed or don’t make enough money to pay back student loans.
Florida’s community colleges and technical schools typically had higher loan default rates than traditional universities.
