Student loan borrowing

Georgia’s need-based, low-interest student-loan program has a high default rate that serves to limit its success, a new state audit has found.

 Photo credit: Metro Creative

ATLANTA — Georgia’s need-based, low-interest student-loan program has a high default rate that serves to limit its success, a new state audit has found.

About 31% of borrowers participating in the Student Access Loan program default within three years of entering repayment, the Georgia Department of Audits & Accounts concluded in a report issued late last month.

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