College students defaulting on their loans is a common occurrence, but it has become a bigger problem right here in Ohio. According to 2009 data released by the U.S. Department of Education, students at Owens Community College in Toledo and Findlay have the 5th most defaults in the nation on their federal loans. There were 557 students who defaulted during the 2009 year, more than double from the two years before. One explanation for the defaults is the economic recession that hit during 2008. The Director of Enrollment Services at Owens, Betsy Johnson, says the new data is a sign of just how bad the economy was back in 2008. Owens Community College does provide counseling for students needing help budgeting their loans.
