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Value and Affordability
Value and Affordability
College’s Student Loan Default Rate Is Well Below State, National Averages
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The 2.9 percent student loan default rate among Kettering College graduates is more than a number. It’s a reflection of the value and affordability of a Kettering College education.
The default rate refers to the percentage of a school’s borrowers who defaulted on their student loans within a three-year period. The latest numbers, from 2015, appear in a recent report published by the U.S. Department of Education listing three-year cohort student loan default rates for all domestic and foreign postsecondary schools. Kettering College’s rate was well below the Ohio average of 12.2 percent and the national average of 10.8 percent.
“We are very proud of our low student loan default rate, which shows the value of investing in an education from Kettering College,” said Adam Brown, dean of student success. “It’s an indication that Kettering College graduates are finding jobs in their desired field and are able to repay their student loans consistently and quickly.”
The rate also reflects Kettering College’s dedication to preparing students for life after graduation, Brown said.
In addition, Kettering College encourages students to pursue jobs in health care while enrolled in school. The College offers a 30 percent tuition discount to all students working part time in Kettering Health Network, allowing them to gain valuable work experience while making college more affordable.
Kettering College also offers loan exit counseling, in which each graduating student meets one-on-one with a financial aid counselor to discuss loans and repayment options. By teaching students about how to interpret, manage, and pay off debt, Kettering College is providing lessons in financial responsibility.
“The majority of our students use federal aid to pay for their education, and it’s our job as educators to make sure they are wellprepared to pay off their loans,” Brown explained. “It’s another benefit to being a small college: We’re able to help students make a customized plan so they’re on the right track to begin paying back their loans after graduation.”
