Mapping Your Future: Time to keep working on lowering student loan default rates



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Time to keep working on lowering student loan default rates

By Catherine Mueller

September 26, 2019

One of the top priorities for the financial aid office – among many – is taking action to prevent or reduce student loan defaults. After all, the impact of a high default rate can be extensive – impacting not only a school's participation in federal aid programs but also recruitment, retention, fundraising, and numerous other areas of concern to a postsecondary institution.

In a September 25 press release, the Department of Education announced the official 3-year draft cohort default rate decreased from 10.8 percent to 10.1 percent. While that is great news, continued default prevention efforts are needed to continue to lower the rates.

Mapping Your Future offers several default prevention tools that schools can integrate into their default prevention plan to assist their students. Since Mapping Your Future's inception in 1996, default prevention has been an important focus.

Mapping Your Future provides important default prevention services, including:

For more information, contact the Mapping Your Future staff at feedback@mappingyourfuture.org or (800) 374-4072.