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Posted September 28, 2017, 5:20 pm CDT
Seven law schools recorded student loan default rates greater than 2 percent for Fiscal Year 2014, according to data released Wednesday by the U.S. Department of Education.
Comparatively, five law schools had such default rates for Fiscal Year 2013 and six for Fiscal Year 2012.
The Institute for College Access & Success, a nonprofit group that works to increase the public’s understanding of student debt, designed a sortable spreadsheet with the Department of Education data. Based on that offering, law schools with the the largest percentages of student loan defaults for FY 2014 were:
• Massachusetts School of Law—4.8 percent (12 in default among 250 who entered repayment plans.)
• Thomas Jefferson School of Law—3.8 percent (20 in default among 530 who entered repayment plans.)
• Appalachian School of Law–2.9 percent (three in default among 102 who entered repayment plans.)
• Mitchell Hamline School of Law–2.6 percent (eight in default among 306 who entered repayment plans.)
• San Joaquin College of Law—2.6 percent (two in default among 76 who entered repayment plans.)
• Thomas M. Cooley School of Law—2.5 percent (32 in default among 1,255 who entered repayment plans.)
• Atlanta’s John Marshall Law School–2.3 percent (seven in default among 302 who entered repayment plans.)
U.S. law schools with student loan default rates between 1 and 2 percent were: CUNY School of Law at Queens College (2.0 percent); New England Law (1.8); New York Law (1.7); Florida Coastal (1.7); Ave Maria School of Law (1.7); Michigan State University College of Law (1.6); California Western School of Law (1.2); Charleston School of Law (1.2); Southwestern Law (1.1); Vermont Law (1.0); University of California Hastings College of Law (1.0); and Arizona Summit (1.0). Florida Coastal, Charleston and Arizona Summit are for-profit schools.
According to an Institute for College Access & Success press release (PDF), the federal student loan default rate for all schools has risen for the first time in four years.
The tracking period for FY 2014 ran from Oct 1, 2013 to Sept. 30, 2016, according to a Department of Education press release. Over that span, 11.5 percent of borrowers—nearly 581,000—defaulted on student loans.
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