Financial Aid Loan Default at 10%
October 20, 2017 - 03:30 PM
According to data from the U.S. Department of Education, Mt. SAC loan default rate stands at a low 10 percent––in comparison to area peer colleges with loan default rates of 20 to 30 percent.
In a letter to the college, the Department of Education noted that Mt. SAC’s 2014 cohort default rate for Federal Family Education Loans and William D. Ford Federal Direct Loans is 10 percent.
“I know it is a lot of hard work to host these loan workshops and to work individually with each student,” said Student Services Vice President Audrey Yamagata-Noji.
For 2016-17, Mt. SAC’s Financial Aid Office processed more than 350 loans worth over $1.2 million.