Arkansas Student Loan Default Rate

Student Loan Debt

Student loan default rates for Arkansas college students declined for the fifth straight year even as the amount of debt owed by current and former college goers nears crisis level, according to newly released data from the U.S. Department of Education shows.

In releasing the new data from fiscal year 2015, USDE Secretary Betsy DeVos announced that the FY 2015 national cohort default rate is 10.8%, down from 11.5% in the previous year. By comparison, Arkansas’ cohort default rates dropped from 12.2% to 11.2%, inching closer to the national average. Since 2013, Arkansas student loan default rate has dropped 7.8 percentage points, while the national rate has only dropped 3.9 percentage points.

The once-a-year student loan default data was released electronically on Sept. 24, to domestic and foreign colleges who have borrowers who enter repayment on U.S. federal loan programs, including the Federal Family Education Loan (FFEL) and the William D. Ford Federal Direct Loan (Direct Loan) Program.     MORE

Designed by Reinhold Technology Solutions