Students at for-profit colleges are more than twice as likely to default on federal loans as their peers at public institutions, according to new data released Monday [1] by the Department of Education that also shows the highest percentage of students defaulting on loans in more than a decade, the Huffington Post reports. The overall student loan default rate increased from 7 percent last year to 8.8 percent–the highest rate since the government released similar data in 1999. An outsized share of that increase came from the for-profit college sector, which had both the highest percentage of defaults and the greatest increase in defaults, compared to public universities and private nonprofit schools…