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Federal Student-Loan Default Rate in U.S. Drops to 13.7%

Defaults on federal student loans declined from a year earlier, as the U.S. government bolsters programs to prevent borrowers from skipping payments.

The rate, measured over the first three years that borrowers are required to pay their loans, was 13.7 percent, down from 14.7 percent last year, the Education Department said today in a statement. The data encompasses borrowers who would have begun paying in 2011.