Florida student loan default rates among highest in nation

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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, reports the News Service of Florida. 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.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.