Student Loan Repayment Rate High In Oklahoma

Student Loan Repayment Rate High In Oklahoma
posted 09/18/09 6:04 pm

Oklahoma City - Despite worsening economic conditions in Oklahoma, the state's student loan repayment rate remains high.

The Oklahoma Guaranteed Student Loan Program reports more than 92-percent of student loan borrowers in Oklahoma are repaying their federal loans.

The OGSLP has a default prevention program that includes an early assistance program that is designed to educate borrowers about repayment options. That effort is also bolstered by schools who use the program's tools to track and contact at-risk borrowers.

"These important programs play a vital role in ensuring Oklahomans have the useful and timely student loan information they need to keep their repayments on track," says Chancellor Glen D. Johnson.

Although the state's default rate increased from 5-point-9 percent in 2006 to 7-point-5 percent in 2007, the rates in surrounding states have generally increased more.