FOR IMMEDIATE RELEASE
Tuesday, March 1, 2016
STEPHENVILLE, Texas—For the fourth year in a row, the percentage of Tarleton State University students and graduates defaulting on student loans is well below national and state averages.
Based on national data from the U.S. Department of Education, Tarleton’s three-year cohort default rate of 7.6 percent is more than four points below the national average of 11.8 percent. The three-year cohort default rate is based on the percentage of a university’s student borrowers who begin repayment on certain federal loan programs during a three-year period.
For fiscal year 2009 through fiscal year 2012—the three-year period used for the DOE’s latest report—Tarleton’s also is nearly 7 points below the state median of 14.3 percent.
“Tarleton’s financial literacy programs are key to the university’s low default rate,” said Dr. Javier Garza, assistant vice president for enrollment management. “All incoming freshmen are required to participate in an online Financial Literacy 101 program, but Tarleton’s commitment to help students gain a better understanding of personal finance doesn’t stop there.
“Tarleton provides the tools students need to manage their money while in college and after graduation. We want our students to learn how to manage their money and not be managed by their money,” he said.
Tarleton’s latest cohort default rate positions the university as a major contributor in the Texas Higher Education Coordinating Board’s push for undergraduate student loan debt not to exceed the current rate of 60 percent of first-year wages for graduates of state public institutions by 2030.
Dubbed 60×30 Texas, the plan also is designed to ensure that 60 percent of Texas’ 25- to 34-year-old workforce achieves a postsecondary education certificate or degree by 2030.
For information on Tarleton’s student financial aid programs, visit http://catalog.tarleton.edu/undergrad/financialaid/.
Tarleton, a member of The Texas A&M University System, provides a student-focused, value-driven educational experience marked by academic innovation and exemplary service, and dedicated to transforming students into tomorrow’s professional leaders. With campuses in Stephenville, Fort Worth, Waco, Midlothian and online, Tarleton engages with its communities to provide real-world learning experiences and to address societal needs while maintaining its core values of integrity, leadership, tradition, civility, excellence and service.
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Contact:
Dr. Javier Garza
254-968-0787
garza@tarleton.edu
