| Show Student loan default rate varies across the country II default rate low David Canfield Assistant Associate Editor different forms of MANY government loans are given out each year to students Some are given out through banks and lending institutions others are given out directly through the college cashiers cashier's office These loans are handled through different agencies and collected through various departments The Guaranteed Student Loan or Stafford Loan program program program pro pro- gram is handled through lending institutions and is collected through the federal and state agencies National Direct Student Loans or Perkins loans as well as term short-term emergency loans are given to the schools each year to tobe tobe tobe be disbursed by the cashier and collected through the collections department In addition to differences in handling the default rates on these loans vary The default rate on is percent as compared to a state average of 12 percent The state high was the now defunct which had a default rate of 72 per per- cent However for and other forms of loans the default rate is percent according to LeNae Williams student loan manager Out of a total of approximately loans awarded the number of defaults would be approximately approximately approximately ap ap- ap- ap proximately 75 to Of the total number of loans awarded last year were loans There are currently four employees working in the collections department department department depart depart- ment who work with students students students stu stu- stu- stu dents in an attempt to collect collect collect col col- col- col lect on defa defaulted or delinquent delinquent delinquent delin delin- quent loans so the money can be loaned to other stu stu- stu- stu dents Everything we collect collect collect col col- col- col lect can be given to other students Williams said M j jw w i t i f rA t. t 4 1 4 z r rA i f r o y A k r rw ki z w s n 1 q z Y er N s N o c 4 |
