SUNY New Paltz Students Take Loan Responsibility Seriously
NEW PALTZ -- According to the federal government, State University of New York at New Paltz students are paying back their student loans at an above-average rate compared with students of other universities and colleges in the nation and state.
For the past three fiscal years, the number of SUNY New Paltz students in repayment has increased steadily, which has resulted in the continual lowering of the default rate from 5.7 to 3.5. New Paltz' default rate is lower than both the national and the state averages, which are 5.6 and 5.5, respectively.
"This is testimony to our students taking their loan repayment responsibility seriously and our institution's collective loan counseling and financial advising efforts," said Daniel Sistarenik, director of financial aid at SUNY New Paltz. "Our major lenders are also providing excellent repayment incentives along with easy processing and 24-hour customer service," he said.
Whether or not the current economic downturn in the country will influence the student loan default rate, "Time will tell," said Sistarenik, but there are plenty of hardship deferment options of which alumni can avail themselves. Sistarenik said the important thing to remember in keeping student loans in good standing is keeping contact with the lender, so that arrangements can be made for dealing with hard times.
Located in the heart of a dynamic college town, 90 minutes from metropolitan New York City, the State University of New York at New Paltz is a highly selective college of about 8,000 undergraduate and graduate students.
One of the most well-regarded public colleges in the nation, New Paltz delivers an extraordinary number of majors in Business, Liberal Arts, Sciences, Engineering, Fine and Performing Arts and Education.
New Paltz embraces its culture as a community where talented and independent minded people from around the world create close personal links with real scholars and artists who love to teach.