FPU Affordability: Student Loan Defaults Drop Again

Each year the U.S. Department of Education releases the Official Cohort Default Rates for Schools measuring the percentage of a school’s borrowers who enter repayment on their federal student loans during a particular federal fiscal year (FY). Last week the department released the FY2016 cohort default rates for each school and reported a national default rate of 10.1%.

 

We are pleased to announce Fresno Pacific’s FY2016 cohort default rate is 5.3%, down from 6.5% in FY2015 and 7.3% in FY2014. For comparison, Fresno State’s FY2016 rate is 5%, Cal Baptist‘s is 4.5%, and William Jessup’s is 6.7%.

 

A low default rate can serve as a measure of an institution’s affordability. FPU offers students reasonable tuition rates in addition to a robust selection of financial aid opportunities. The Student Financial Services team encourages responsible borrowing which contributes to lower overall indebtedness by FPU students. These efforts, along with various forms of support offered throughout FPU, result in the majority of borrowers in repayment being able to make their loan payments after leaving the university.