St. Norbert College Ranked With Best Schools for Lowest Loan Default Rates

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From St. Norbert College, December 12, 2017
by Mike Counter, mike.counter@snc.edu, 920-403-3089

St. Norbert College ranked in the top 5% of public and private universities nationally for debt repayment success in a study conducted by Student Loan Report, LLC using data released by the U.S. Department of Education. The college ranked number 101, with a default rate of only 1.89%, out of 1,900 colleges and universities across the country. Go to https://studentloans.net/student-loan-default-rates-2017/ to view the entire study.
"Our extremely low loan default rate is a reflection of our commitment to managing affordability issues such as keeping tuition down and offering competitive institutional financial aid," said St. Norbert College president Brian Bruess. "We also know that a low default rate means our students graduate on time, secure meaningful employment, and value their St. Norbert education," Bruess added.

According to the study, a smaller default rate percentage translates to more students paying off their college debt. The report correlates lower default rates to students that are graduating and managing their debt successfully because of the affordability and quality of the college's programs. Over 97% of St. Norbert College students receive financial help, with a full 94% of graduates either employed or attending graduate school when they are surveyed ninth months after graduation. St. Norbert College maintains a four-year graduation guarantee, including study abroad opportunities, with 12% of students graduating in less than four years.

Data was taken specifically from the Official Cohort Default Rates for Schools dataset provided by the Department of Education. Any school whose students attended with the help of federal student loans were included in that report. The original dataset had over 4,500 institutions, but Student Loan Report, LLC filtered the report to exclude schools with fewer than 500 borrowers and any foreign schools. Default rates are calculated using the ratio of the number of borrowers in default to the total number of borrowers since starting repayment in 2014.

Private, four-year colleges defaulted less at 7.4 percent than public colleges at 11.3 percent. The state of Wisconsin ranked 19th nationally with a 10.3% default rate. The national average default rate on federal student loans was 11.5 percent, which is a 1.77 percent increase from 2013. That is approximately 580,000 in default out of over five million borrowers.

For more information, go to https://www.mastersdegree.net/student-loan-default-rates-by-college-sector/