HOUGHTON — With a student loan default rate of just over 2 percent, Michigan Technological University students are defaulting on student loans at the second lowest rate among public universities in Michigan, according to new data released by a website called Student Loan Report.net.
Michigan Tech’s default rate of 2.01 percent is more than 9 percent lower than the national average of 11.35 percent, according to the website.The only public university in Michigan with a lower default rate is the University of Michigan-Ann Arbor, whose default rate is 1.26 percent.
The Student Loan Report is based on US Department of Education data. It includes default rates for more than 4,500 public and private colleges and universities nationwide. Michigan Tech ranked 7th among all schools—public and private—in Michigan and in the top 10 percent of all schools in the nation.
To view the report, click HERE.