Community College Loan Default Rate 16.7 percent

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By Daren Sukhram

Story Created: Jan 1, 2010 at 11:35 AM CDT

Story Updated: Jan 1, 2010 at 11:35 AM CDT

DES MOINES (AP) - Nearly 17 percent of Iowa community college students default on student loans within three years of graduating.

Federal data shows the default rate is more than five times the average for students who attend Iowa's state-run universities and three times the average of those who graduate from Iowa's private colleges and universities.

Laurie Wolf, the executive dean of student services at Des Moines Area Community College, says one reason for the higher default rate is community college graduates are less likely to land high-paying jobs, and less likely to get jobs that offer student loan forgiveness.

Wolf also says as many as one in six students go on to get their four-year degrees and would not be counted as part of the default
rate, making it appear artificially high.

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