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The Federal Department of Education has released the official Fiscal Year 2008 student loan cohort default rates for all the schools in the country. (A cohort default rate is the percentage of a school’s borrowers who have defaulted on their student loans).
The 2008 national average was 7%, up from last year’s rate of 6.7%. However, SCO’s cohort default rate remains at 0% for the 14th consecutive year.
"This is great news," said Cindy Garner, SCO's Director of Financial Aid. "Our graduates continue to have much success practicing optometry and doing what they least want to do, which is repay their student loans."
A low cohort default rate is an important measure of a school’s overall quality, Garner noted. "It reflects our success in preparing our students to practice optometry. This is a great accomplishment and it reflects admirably on each member of the SCO family. Congratulations SCO!"