Eastern Wyoming College''s Student Loan Default Rate
November 22, 2005
TORRINGTON, WY - Eastern Wyoming College received good news recently. Its Cohort Student Loan rate is 4.6 percent, second from the lowest of all the Wyoming community colleges.
The Cohort Default Rate is the percentage of a school's student loan borrowers who enter repayment on their loans during particular fiscal year and then default before the end of the next fiscal year. A 4.6 percent default rate means that out of 86 borrowers in repayment, four of them defaulted on their student loans.
Pam Palermo, EWC Financial Aid Director comments, "We work hard to educate our student borrowers of the benefits of student loans, especially the fact that they can help make a college education a reality. It is important to former students, to EWC, and especially to future EWC students that we keep our Cohort Default Rate low."
The balance between grants and loans has shifted substantially with the majority of aid coming from student loans. This means that the volume of borrowing has grown considerably over the years. Keeping the default rate low is extremely important to colleges, because if a college has a default rate that is greater than 25 percent over three years, the institution can then loose its ability to provide student loans and Pell grants to all of its students.
Wyoming community college default rates are as follows:
- Casper College 10.9
- Western Wyoming Community College 10.7
- Central Wyoming College 8.7
- Sheridan College 7.4
- Laramie County Community College 6.4
- Eastern Wyoming College 4.6
- Northwest College 4.2
Jack Bottenfield states, "As President of EWC, I am very proud of the excellent loan repayment record of EWC students. This low default rate reflects the positive personal values and the upbringing of our students."