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March 4, 2013

NCCC to launch student loan transparency program


A standard “Award Letter” used across the SUNY system also connects to supports being put in place to “work with all student borrowers to help them complete their degrees and obtain a job after graduation,” she said.

Some 267,000 SUNY students borrow money for college through federal Direct Loans each year, according to SUNY officials.

And, based on U.S. Department of Education statistics, “more than 75,000 SUNY students entered repayment during the most recent ... year, while 6,000 students fell into default during the same time period.”   

Forty percent of SUNY students graduate without loan debt.

NCCC will begin using Smart Track in the fall of this year.

According to the announcement from NCCC President Dr. Steve Tyrell’s office, the average SUNY graduate accumulates $22,575 in debt, while the national average student-loan debt is $26,600. 

Student loan debt is now larger than credit-card debt in the United States.

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