The rate at which Montana college students default on their student loans is at a record low, the Montana Guaranteed Student Loan Program said. The default rate for the 2005 federal fiscal year was 2.8 percent, down from the previous year's 5.2 percent. The national rate is 4.6 percent, the U.S. Department of Education reported. Brian Klein, public relations coordinator for the loan program, said Wednesday the decrease can be attributed to many factors, including the "state's strong economy, ethics of student borrowers these days and financial aid directors at schools have worked hard so students get the best deals possible." The 2005 rate is the most recent available. It is calculated by determining the percentage of borrowers who began repaying their loans between Oct. 1, 2004, and Sept. 30, 2005, and who defaulted before Sept. 30, 2006.