Daemen Loan Default Rate Far Below National Average

By | October 18, 2019

Students walking in front of the wall at the front of campusIn the U.S. Department of Education’s new report on student loan default rates, Daemen College has a rate far below the national average and among the lowest for colleges in the Buffalo Niagara region.

Daemen’s loan default rate is 3.4 percent compared to 10.1 percent nationally and 8.6 percent in New York State. The college’s current rate, which is one of the four lowest for colleges in the region, is a full percentage point lower than it was in 2015 and down more than 4 percentage points since 2010.

“Our decreasing student loan default rate speaks to the great value, quality, and affordability of a Daemen education,” said Dr. Greg Nayor, vice president for strategic initiatives. “Daemen students are well-prepared for career success and securing employment after graduation, which when combined with our financial wellness and other initiatives help students to effectively meet their financial needs.”

Along with making a Daemen education affordable, there are several reasons attributed to the college’s declining loan default rate, including a financial literacy program that is designed to help educate students on managing their money now and in the future, and entrance and exit student loan counseling.

In addition, students have a record of achieving strong pass rates on professional certification exams and graduate from top quality academic programs with a range of learning opportunities that enable them to develop high-level skills and talents in their professional fields. Exceptional job placement assistance and other efforts have also contributed to lowering the loan default rate.

The U.S. Department of Education report is based on the federal student loan cohort default rate for fiscal year 2016, the most recent year for which data is available. For private institutions across the country, the loan default rate fell from 7.1 percent to 6.6 percent.