Campus: CSU, Stanislaus -- November 29, 2000

University's Student Loan Default Rates Hit New Low

California State University, Stanislaus students are proving to be worthy loan recipients.

Loan default rates recently released by the U.S. Department of Education reveal that CSU Stanislaus students have been diligent about paying back their loans. While the national student loan default rate hit an all-time low of 6.9 percent in 1998, only 2.9 percent of CSU Stanislaus students failed to repay their loans.

That rate is down significantly from the 6.8 percent rate of the previous year and the double-digit default levels of the early 1990's, according to Tom Thompkins of the CSU Stanislaus Financial Aid Office. Nearly 1,500 students are recipients of more than $9 million in loans and only 38 defaulted, according to the latest statistics.

Dr. David Keymer, Vice President for Student Affairs, said the strong loan repayment record is an indicator of the type of student attending CSU Stanislaus. He noted that a number of programs are in place to encourage students to remain diligent about repaying loans after they graduate.

CSU Stanislaus ranked second in the U.S. News & World Report's Western region for the least amount of student debt. According to the magazine's statistics, only 32 percent of CSU Stanislaus students graduate owing money for their education at an average of $5,820. That figure is considerably lower than at the majority of universities and colleges across the country, where student debt averages more than $10,000, and peaks at around $30,000.

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