GREENFIELD, Mass (WWLP) – A welcome trend among Community College students in Massachusetts. 22News found out why they’re less likely to default on their loans.
Experts believe we’re seeing the default rate drop because of a stronger economy and colleges doing a better job educating students about debt. New Federal data shows a drop in the percentage of Massachusetts community college students defaulting on their debt.
It’s the first time this has happened in three years. Greenfield Community College was among the schools seeing the biggest improvements. G-C-C’s student default rate declined from 22-percent to 15-percent.
One GCC Student told 22News, this news puts her more at ease. “It makes me less worried about having to pay everything back, because I didn’t know anything about how I was going to pay. And just knowing people who are able to pay it back easier, makes me feel a lot better.”
The Boston Globe reports that the default rate has been high for students who graduated during or shortly after the 20-08 recession, with college tuition rising, paying back loans is still a big concern for many students across western Massachusetts.