Magazine article Black Issues in Higher Education

Washington UPDATE: Default Rates Down at HBCUs

Magazine article Black Issues in Higher Education

Washington UPDATE: Default Rates Down at HBCUs

Article excerpt

Washington UPDATE: Default Rates Down at HBCUs

The number of historically Black colleges and universities with high default rates has declined, a new U.S. General Accounting Office (GAO) report says.

Only fourteen HBCUs had default rates above 25 percent for three consecutive years, the threshold that would leave them at risk of losing eligibility for student loan programs. This number, for the years 1993 through 1995, is significantly lower than the thirty-three schools at risk based on their default rates from 1988 to 1990.

Of the thirty-three originally at risk, only eight were on the most recent list. Nineteen no longer qualified as high default schools, and six no longer participated in the financial aid programs. Six colleges that were not at risk in the original survey were at risk in the latest review, GAO said.

The decline was part of an overall downward trend in defaults at all HBCUs. Loan default rates at Black colleges fell from 20. …

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