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For Profit Student Loan Default Rate Hits 25%

For Profit Student Loan Default Rate Hits 25%

About one-quarter of students who took out federal loans to attend for-profit colleges defaulted within three years of starting repayment, according to a new federal analysis.

The 25 percent default rate in the for-profit sector, part of an Education Department report to be published Friday, was up from a 21 percent rate estimated in December 2009. […]