More than one in 10 of college student loans were in default in fiscal 2016, a financial website says.
LendEDU, analyzing data from the U.S. Department of Education, found that the national default rate for college student loans in fiscal 2016 was 10.1%.
Overall, for-profit schools had a loan default rate of 15.2% public institutions had a default rate of 9.6%, and non-profit private schools had a default rate of 6.6%.
LendEDU is a website that helps consumers learn about and compare student loans and other financial products.
A federal student loan is considered to be in default, LendEDU says, if a payment is late by 270 days—about nine months. The standard for private student loan default varies, but typically loans will be deemed in default when a payment is late by three or fourth months, LendEDU says.
"As colleges continue to raise tuition rates and with outstanding student loan debt in the United States at an all-time high of $1.6 trillion, student loan default only figures to be a growing issue," LendEDU says.
The state with the highest loan default rate in fiscal 2016 was Nevada, where 18.16% of student loans were in default.
Here are the 10 states with the highest loan default rates in fiscal 2016.
