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For the 23rd consecutive year, Southern College of Optometry’s student loan cohort default rates remains at zero percent. This is according to the U.S. Department of Education’s newly released numbers for FY2016.
The FY2016 student loan cohort default rates reveal that SCO graduates are successfully transitioning to the optometric practice.
“This is great news,” said Cindy Garner, Director of Financial Aid. “Our graduates continue to have much success practicing optometry and doing what they least want to do, which is to repay their student loans.”
A cohort default rate represents the percentage of a college or university’s borrowers who have defaulted on their student loans. The FY2016 national average was 10.1 %, down from last year’s rate of 10.8%, yet SCO’s default rate remained at zero percent.
“The cohort default rate is an important measure of a school’s overall quality. It reflects our success in preparing our students to practice optometry,” said Garner. “This is a great accomplishment and it reflects admirably on each member of the SCO family.
SCO’s Financial Aid Office actively works with students to provide them with strategies to manage their student indebtedness levels. From budgeting workshops to one-on-one sessions with a financial aid counselor, the college is committed to partnering with students to ensure their success in optometry. Student scholarships provided by SCO’s alumni and friends also play an important part in managing student debt levels.