Students attending TC with financial aid have a lower default rate than the national average, according to Dean of Students Bill Hughes.
Several loans can be obtained at TC. Ten percent of the students attending receive financial aid. “This includes the work study program,” said Hughes.
Only five percent of all those students who have a National Defense Student Loan are presently delinquent. This is five percent less than the national average of default for government loans, according to the “National Observer.”
The Texas Opportunity Plan has paid students $67,135 since 1967. “Of this, $2,373 of this amount is considered seriously delinquent,” said Hughes.
Nursing students receiving loans have an exceptionally good average for repaying loans. Of the $79,335 loaned, none is delinquent. “This is because many are older students and they go directly from the program into high paying jobs,” said Ruth Bearden, Hughes’ secretary.
“No students borrow money without intending to pay it back,” commented Hughes. “Many who don’t are dropouts. They think that because they got nothing for the money they shouldn’t pay it back.”
Other students who don’t finish their education go into poorly paid jobs and can’t afford to make good their loans. Some girls marry, begin to raise a family and default.
“We try to make arrangements for them to pay the money back, even if it’s only $5 a month,” said Mrs. Bearden.
TC has received no additional funds for loans since 1966, said Hughes. He explained that the amount of money available for loans is dependent on how well those who have loans meet their payments.