Lansing, Mich. (November 8, 2018) – Student loans and repayment plans are of much concern to many Americans; and policies have been put in place at the national level to better inform students and families of their rights and obligations to help reduce this concern.
The U.S. Department of Education releases official student loan default rates once per year, in order for students and families to gauge the fiscal safety of every (foreign and domestic) school eligible for the Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Programs. The FY 2015 official cohort default rates were released to both domestic and foreign schools on September 24, 2018. These numbers are based on the previous three years, in order to show a more realistic pattern.
Career Quest Learning Centers (CQLC) received a 5.9 percent cohort default rate in this recent report, compared to the national average of 10.8 percent, which means that CQLC students are half as likely to default on their student loans as the national average.
“We feel this demonstrates our successful commitment to offering outstanding career education and training that leads to gainful employment, enabling our graduates to repay their student loan investment,” said CQLC CEO Jim Hutton. “This is a testament to the quality of both our college and our students, both of which we’re very proud.”
Every student who applies to CQLC will meet with a financial aid officer to create a financial plan and to identify what financial aid is available to them. “This is an integral part of the overall education we provide our students,” Hutton said. “We’re preparing them for a successful life and that includes being knowledgeable about their finances.”
Since 1995, Career Quest has implemented its mission to provide students with the skills required for employment and/or career advancement, by educating and training them with the equipment and technology found in the current workplace. For more information, visit http://www.careerquest.edu.
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