Student Loan Default Rate in Nevada

Nevada once had the highest student loan default rate in the nation. It's standing improved somewhat in the past year:

The latest numbers from the federal government show Nevadans who began repaying federal student loans in fiscal 2005-06 defaulting at higher rates than borrowers in 45 other states.

Having the nation’s fifth highest default rate sounds like bad news. But after four years at the top of the list, falling to No. 5 was a step in the right direction.

“It validates all the hard work that the institutions are doing,” said Sharon Wurm, director of financial aid for Nevada’s public college system.

The federal student loan program allows students and parents to borrow from the government or from private lenders whose loans the government promises to back.

Source: Las Vegas Sun