The Top/Bottom 10 Schools with the Highest/Lowest 3-Year Default Rate, 2016
By Haley Ruiz
There are some patterns when it comes to Arkansas’ default rates at higher education institutions, after analyzing 2016 data. It appears the top 10 schools with the highest 3-year default rates are mostly in southeast Arkansas, while the bottom 10 schools with the lowest 3-year default rates are mostly in central and north Arkansas.
The top 10 schools with the highest 3-year default rates all have rates above 24 percent.
The Credence Institute of Beauty in Crossett, Arkansas has the highest default rate of all the colleges in Arkansas, with 29.3 percent of students defaulting on their loans within three years.
Southern Arkansas, where most institutions with higher default rates are located, tends to be more impoverished than the rest of the state. Arkansas’ overall poverty rate was 19.1 percent, according to 2016 Center for American Progress data. Arkansas had the fourth highest poverty rate in the United States. The region’s low wealth may have impacted area students’ ability to pay for school and their loans.
The bottom 10 schools with the lowest 3-year default rates all have rates below seven percent.
The University of Arkansas for Medical Sciences in Little Rock has the lowest default rate of all the higher education institutions in Arkansas, with only 1.5 percent of students defaulting on their loans within three years.
Many of the bottom 10 schools are beauty schools or private institutions.
Recent Comments