Campus: Cal Poly, San Luis Obispo -- September 20, 2002
Cal Poly Student Borrowers Have One of Nation's Lowest Loan Default
Cal Poly students who take advantage of federal loans to help finance their education are among
the nation's most likely to repay those debts, according to just-released U.S. Department of
Education figures for fiscal year 2000.
The report lists the federal student loan default rates for every post-secondary institution
in the country. Cal Poly's 1.5 percent rate of default is the lowest in the California State
University system and represents one-quarter of the national rate of 5.9 percent. Of the 2,662
Cal Poly students who were to begin repaying their loans in fiscal year 2000, only 42 went
"Cal Poly's rate was also lower than all of the University of California schools, with the exception
of UC San Francisco, a health sciences university," said John Anderson, Cal Poly Student Financial
Aid director. "Cal Poly is proud of its low student default rate and attributes it, in part, to its
efforts to keep student borrowers informed about their repayment responsibilities, the responsible
nature of its alumni, and the success its graduates have in securing employment upon graduation so
they might meet their loan obligations," Anderson said.
On average, Cal Poly's undergraduate student borrower incurs an aggregate education debt upon
graduation of between $15,000 and $20,000, according to Anderson.
For more information, contact Anderson at 756-5893.