R.I. student-debt default rate 7th lowest in U.S.

THE RATE of student debt default in Rhode Island was 7.1% in fiscal year 2017. / THE COLUMBUS DISPATCH VIA AP FILE/JOSHUA A. BICKEL
THE RATE of student debt default in Rhode Island was 7.1% in fiscal year 2017. / THE COLUMBUS DISPATCH VIA AP FILE/JOSHUA A. BICKEL

PROVIDENCE – Rhode Island had the seventh-lowest share of student debt defaulters in the nation in fiscal 2017, according to a new report from LendEdu.

The Ocean State had a default rate of 7.1% of borrowers, accounting for 1,383 individuals out of a total 19,431 for the year. The default rate in Rhode Island ranked fourth lowest in the nation one year prior, at 6.3%.

The national student-loan default rate for the 2017 fiscal year was 9.70%, a decrease from 10.1% one year prior.

In fiscal 2017, Rhode Island had the third-lowest rate of student debt default rate in New England:

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  • Massachusetts: 5.8%, No. 1 in the nation
  • Vermont: 6.2%, No. 2 in the United States
  • Maine: 8.9%, No. 21 in the nation
  • Connecticut: 9.5%, No. 25 in the U.S.
  • New Hampshire: 10.7%, No. 40 in the nation

The full report may be viewed online.

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