Siloam Springs, Ark. (September 21, 2006) - John Brown University’s student loan default rate was recently calculated and revealed that JBU has the second lowest default rate for four year schools in Arkansas at 0.6 percent. JBU’s previous default rate was 1 percent.
The national default rate, which represents the number of college graduates who become delinquent in repaying their student loans, is 5.1 percent. The highest default rate in Arkansas for four year institutions is 14.3 percent.
“JBU’s low default rate reflects the integrity and quality of our student body, both undergraduate and graduate,” Kim Eldridge, director of financial aid, said. “Our graduates’ willingness and ability to pay back their loans in a timely manner is what keeps our default rate low.”
Four hundred and fifty JBU graduates entered repayment in 2006 and only three defaulted on their loans making this years’ default rate for JBU very low. Over 60 percent of JBU students take out student loans each year and repayment of those loans typically starts six months after they complete their degree or leave the university.
Students who take out student loans during their education at JBU have the opportunity during their final semester at JBU to attend a seminar on repaying loans, deferring and consolidating loans. The seminar is led and hosted by the JBU financial aid staff.
John Brown University is a private Christian university, ranked sixth by U.S. News & World Report in the Southern Region. JBU enrolls more than 2,000 students from 40 states and 45 countries. JBU is a member of Arkansas’ Independent Colleges and Universities and the Council for Christian Colleges and Universities.