Default rates on student loans has dropped to an all-time low

by Dennis Brown

The default rate on student loans, which the Education Department reported today has dropped to an all-time low of 10.7 percent nationally, stands at less than 1.5 percent at the University of Notre Dame, according to Joseph Russo, director of financial aid.

“Our default rate is among the lowest in the country,” Russo said,“which is a reflection of the overall quality of our program, including admission standards, retention and graduation rates.”

Government loans to Notre Dame students and their parents in 1996-97 total some $30 million, Russo said.

Contact: Joseph Russo, director of financial aid, (219) 631-6445.

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