Thank you; I noticed that but it must not have stuck. Fwiw, the national student loan default rate for 2007 was only 6.7% (http://www2.ed.gov/offices/OSFAP/DCS

Thank you; I noticed that but it must not have stuck. Fwiw, the national student loan default rate for 2007 was only 6.7% (http://www2.ed.gov/offices/OSFAP/DCS/default.html http://www2.ed.gov/offices/OSFAP/DCS/default.html and http://www2.ed.gov/offices/OSFAP/defaultmanagement/2007staterates.pdf http://www2.ed.gov/offices/OSFAP/defaultmanagement/2007state... for per-state rates). The low interest rates on Federal loans (hovering between 1.5% and 2.5% last I checked) make them far more attractive to the alternatives, especially since the vast majority of students pay off their loans. Scrapping Federal student loans entirely would only benefit the people who default.