20% Student Loan Defaults at Some Area Schools
ST. LOUIS, Mo. (KMOX) – As you heard last week on KMOX student loan debt in the United States has now topped a trillion dollars.
But not all of it’s being repaid.
In Missouri as many as 20-percent of some schools’ former students have stopped paying their loans. That’s more than twice as high as the national average of 8.8 percent.
KMOX News looked at the most recent federal figures and found that for-profit schools in the St. Louis area posted some of the largest default rates — Sanford Brown, Vatterot and St. Louis College of Health Careers — all above 16-percent. The only public or private school in the region that came close was Harris-Stowe.
Otherwise, most public and private institutions have student loan default rates lower than the state average of 7.6 percent. Private schools, including Lindenwood, Maryville University, Missouri Baptist, Wash U, and Webster, posted the lowest numbers with four-percent or less of loans going unpaid.
Tomorrow we’ll tell you more about the difference in default rates.
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