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PODCAST: Ranking the Highest Student Loan Default Rates in RI

Monday, November 04, 2013

 

The U.S. Department of Education recently released its annual student loan default data, and while the latest three-year default rate average for Rhode Island students at 12.8% is below the national average of 14.7%, 2,614 Rhode Island students defaulted on their loans from the FY 2010 cohort. Kate Nagle and Ron discuss.

 

Related Slideshow: SLIDES: Ranking the Highest Student Loan Default Rates in RI

The U.S. Department of Education announced the official FY 2011 two-year and official FY 2010 three-year federal student loan cohort default rates (CDR).

The national two-year cohort default rate rose from 9.1 percent for FY 2010 to 10 percent for FY 2011. The three-year cohort default rate rose from 13.4 percent for FY 2009 to 14.7 percent for FY 2010.

Below are the FY 2010 default rates for all post-secondary schools in Rhode Island listed with the Department of Education, from lowest default rates -- to the highest.  

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# 19 Newport Hairdressing

FY 2010 Default Rate: 0

No. in Default: 0
No. in Repay: 12
Enrollment figures: 87
 
* Newport School of Hairdressing
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# 18 Brown University

FY 2010 Default Rate: 2%

No. in Default: 16
No. in Repay: 770
Enrollment figures: 8877
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#17 Providence College

FY 2010 Default Rate: 2.2%

No. in Default: 17
No. in Repay: 772
Enrollment figures: 5912
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#16 Bryant University

FY 2010 Default rate: 3.4%

No. in Default: 26
No. in Repay: 759
Enrollment figures: 4118
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#15 New England Tech

FY 2010 Default Rate: 3.8%

No. in Default: 63
No. in Repay: 1650
Enrollment figures: 4247
 
* New England Institute of Technology
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#14 RISD

FY 2010 Default Rate: 4.2%

No. in Default: 18
No. in Repay: 421
Enrollment figures: 2605
 
* Rhode Island School of Design
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#13 Roger Williams

FY 2010 Default Rate: 5.2%

No. in Default: 60
No. in Repay
Enrollment figures: 5433
 
* Roger Williams University
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#12 Salve Regina

FY 2010 Default Rate: 5.6%

No. in Default: 30
No. in Repay: 530
Enrollment figures: 3098
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#11 St. Joseph - Nursing

FY 2010 Default Rate: 6%

No. in Default: 2
No. in Repay: 33
Enrollment figures: 114
 
* St. Joseph School of Nursing
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#10 URI

FY 2010 Default Rate: 6.9%

No. in Default: 182
No. in Repay: 2626
Enrollment figures: 19200
 
* University of Rhode Island 
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#9 IYRS

FY 2010 Default Rate: 7.1%

No. in Default: 1
No. in Repay: 14
Enrollment figures: 47
 
* International Yacht Restoration School
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#8 RIC

FY 2010 Default Rate: 9%

No. in Default: 137
No. in Repay: 1511
Enrollment figures: 10976
 
* Rhode Island College
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#7 Empire Beauty-Warwick

FY 2010 Default Rate: 13.6%

No. in Default: 16
No. in Repay: 117
Enrollment figures: 261
 
* Empire Beauty School, Warwick Campus
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#6 Johnson and Wales

FY 2010 Default Rate: 14.6%

No. in Default: 713
No. in Repay: 4873
Enrollment figures: 18,659
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#5 CCRI

FY 2010 Default Rate: 14.7%

No. in Default: 141
No. in Repay: 954
Enrollment figures: 24352
 
* Community College of Rhode Island 
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#4 NETTS

FY 2010 Default Rate: 18%

No. in Default: 100
No. in Repay: 553
Enrollment figures: 1046
 
* New England Tractor Trailer School
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#3 Empire Beauty-Prov.

FY 2010 Default Rate: 19%

No. in Default: 33
No. in Repay: 173
Enrollment figures: 332
 
* Empire Beauty School, Providence Campus
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#2 Toni & Guy

FY 2010 Default Rate: 22.2%

No. in Default: 2
No. in Repay: 9
Enrollment figure: 0
 
* Toni and Guy Hairdressing School
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#1 Lincoln Tech.

FY 2010 Default Rate: 32.6% 

No. in Default: 1228
No. in Repay: 3765
Enrollment figures: 4730
 
* Lincoln Technical Institute 
 
 

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