Northwestern students take seriously student loan obligation
March 13, 2018
Students at Northwestern Oklahoma State University are taking seriously their student loan obligation.
According to data received by Northwestern from the U.S. Department of Education, the default rate on student loans has dropped to 11.3 percent for students who entered repayment during the 2015 fiscal year, the latest year that repayment data is available.
The 11.3 percent default rate for Northwestern is below both the national and Oklahoma averages.
The rate is down from 14.6 percent for students who entered repayment in fiscal year 2014.
“We are pleased that more students are completing their repayment plans for student loans,” Dr. Janet Cunningham, university president, said. “Historically, the amount owed by our graduates on student loans is significantly less than the national average. This fact makes repayment more manageable for our students.
“The national headline stories of students accumulating large amounts of loan debt do not happen at Northwestern.”
Cunningham also believes that Northwestern’s requirement that all students complete a personal finance class before graduating provides greater awareness of fiscal concepts such as budgeting, debt and credit.
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