Bengal student loan repayment higher than average

Idaho State University says its student loan default rates are now below the national average.

The cohort student loan default rate has dropped from 15 percent to 7.4 percent over the last four years.

According to ISU Financial Aid Director James Martin, the default rate is measured in cohorts, or groups, of students who enter loan repayment status the same year. He said only 7.4 percent of ISU students who entered into loan repayment three years ago have defaulted on their loans, which is well below the national rate of 11.5 percent.

Martin credits the drop in part to a contract with RepayCensibly, an outside agency that contacts borrowers when they are 90 days delinquent to advise them of options.

He said RepayCentsibly is not a debt collector, but an agency that offers guidance to those who might not know that help is available.