The U.S. Department of Education today released the official FY 2009 national student loan cohort default rate, which has risen to 8.8 percent, up from 7.0 percent in FY 2008. The cohort default rates increased for all sectors: from 6.0 percent to 7.2 percent for public institutions, from 4.0 percent to 4.6 percent for private institutions, and from 11.6 percent to 15 percent at for-profit schools.
Over at the Huffington Post (see here) Chris Kirkham has the following graph (click to enlarge).
This is even more troubling when you take into account the data on employment for people with a college degree. The graph below (click to enlarge) is from the blog Rortybomb (see here).
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