North Central Missouri College’s Cohort Default Rate (CDR) continues to decline. The rate is the percentage of a school’s student loan borrowers who began paying on specific federal loans and defaulted within three years.
NCMC’s most recent rate is 13.8% which is a decline of two and a half percent from the previous year and is three percentage points less than the national average for community colleges.
NCMC’s Cohort Default Rate has continually declined the past four years by 4.94 percentage points. Qualified higher education institutions that distribute federal loans receive a CDR percentage. Institutions can face sanctions and lose their eligibility to participate in federal aid programs if they have high default rates repeatedly.
Associate Vice President of Student Affairs Doctor Kristen Alley says NCMC sees the CDR as an indicator of students’ success and their ability to utilize their education to become employed and repay their student loans. She believes NCMC will continue to see students graduate with less debt as they enter the job market due to the college’s focus on providing a quality education while keeping tuition low.
Both Alley and Associate Director of Financial Aid Sarah Williamson are pleased to see the downward trend in the Cohort Default Rate.