NMSU launches plan to battle student loan defaults
Posted at: 09/28/2012 3:13 PM
By: The Associated Press
LAS CRUCES, N.M. (AP) - New Mexico State University has entered into an eight-year agreement with a nonprofit group aimed at fighting student loan defaults.
The university announced Thursday that under a partnership with Inceptia, school officials will help students manage loans and debt through counseling and education. The school will require student to take financial literacy classes and will remain in contact with students who leave the university without earning a degree.
The plan also includes contact with borrowers after they leave NMSU for follow-up counseling.
NMSU latest report shows the school's three-year default rate for 2009 to be 15 percent.
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