Students from independent, non-profit colleges have low loan default rates
Students from Michigan's independent, non-profit colleges & universities have a lower loan default rate than the state average, national average, and national independent sector average.
In Michigan, students at independent, non-profit colleges and universities not only borrow less in student loans but also have a substantially lower default rate than students from other institutions in Michigan after graduation.
The average student loan default rate for the independent, non-profit sector in Michigan is 5.4 percent compared to 12.9 percent as the overall state average for all types of post-secondary institutions.
Students who attended Michigan's independent, non-profit colleges and universities also have a lower loan default rate than the national average of 11.5 percent and the national independent, non-profit sector average of 7.0 percent.
Only 62 percent of independent, non-profit students even take loans and those that do are prepared for the world of work after graduation allowing them to pay back their student loans in a timely manner.