Only 1% of Harvard Alumni Default on Their Student Loans

It's an elitist world out there.

Just 1% of Harvard University students defaulted within three years of their loans coming due in 2009, according to Department of Education data released last week; and at the higher end, just under 3% of Columbia University alumni defaulted.

The overall Ivy League default rate is 1.6%. The private college rate is 7.5% and the public college rate is 11%.