PODCAST: Ranking the Highest Student Loan Default Rates in RI

Monday, November 04, 2013

 

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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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