Better post crisis underwriting criteria is behind the two and half years drop in defaults for private student loans, according to Moody's Investors Service.  

The default rate in the Moody’s Investor Service private student loan (PSL) indices was 2.9% in second-quarter of 2014, dropping below 3.0% for the first time since 2006; the 90-plus delinquency rate index also fell, to 1.9% from 2.2% in the previous quarter.    

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