Surprise, surprise! Student debt default rate climbed in 2009

Image: Daniel St.Pierre / FreeDigitalPhotos.net

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.
More:http://www.ed.gov/news/press-releases/default-rates-rise-federal-student-loans

Would it be rude of me to note that the default rate of the for-profits is three times that of the private not-for-profits? Or that the for-profits' rate rose by nearly 3.5%, while the non-profit privates' rate only ticked up .6% ?

What does this tell you about the recruiting tactics in the for-profit sector of higher education? Here's a hint: http://www.law.com/jsp/article.jsp?id=1202436337644