Canisius' Three-Year Cohort Loan Default Rate Continues to Drop
Buffalo, NY – Canisius College’s three-year cohort loan default rate continues to drop according to the Department of Education’s most recent report. The college’s three-year cohort loan default rate over the past three years has dropped from 6.6 percent, to 5.1 percent and last year to 3.7 percent.
Canisius College’s loan default rate is well below the national average for private four-year schools, which is 6.8 percent. It is also well below the New York State average, which is 8.2 percent, and the national rate, which is 11.8 percent for all school types.
“We anticipate that our loan default rates will continue to drop,” says Kathleen B. Davis, vice president for enrollment management. “We take great care to counsel students and families regarding loan levels and repayment options. Our low loan default rates show that our students are well informed and that our graduates have secured jobs and are able to repay their loans.”
Davis notes that Canisius empowers its students and graduates by providing them with the necessary financial literacy tools for success. Canisius students and alumni have access to SALT, a comprehensive financial literacy program designed to empower students to take control of their finances, allowing them to make better decisions about how to finance their education, repay their student loan debt and plan wisely for their financial future.
The college also counsels and provides career advice through its Griff Center for Academic Engagement. The Griff Center provides comprehensive programs, services, and resources to support student academic and career success.
To view the Federal Student Aid Office, Department of Education report, click here. New rates will be announced in August, 2016.
For more information, contact the Canisius College Office of Public Relations at (717) 888-2790.
One of 28 Jesuit colleges in the nation, Canisius is the premier private college in Western New York.