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Maryland State Wire

Thursday, November 21, 2024

Public colleges, universities in Maryland report 9.4 percent default rate on student loans

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At Garrett College in McHenry, 23.1 percent of borrowers who started repaying student loans in 2014 defaulted on those loans by the end of 2016, according to a Higher Education Tribune analysis of the latest disclosure from the U.S. Department of Education.

The analysis uses data that tracks borrowers at all publicly controlled colleges and universities receiving federal student aid. The 2014 cohort accounts for borrowers who entered repayment on selected federal loans in the given fiscal year and defaulted before the end of the second fiscal year.   

Altogether, 27 public institutions based in Maryland had 50,711 borrowers in repayment in the 2014 cohort. And 4,748 of them were in default – a default rate of 9.36 percent, which is below the national rate of about 11.5 percent.

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Default rate

SchoolCityBorrowers in defaultBorrowers in repaymentDefault rate (%)
Garrett CollegeMcHenry5724623.1
Hagerstown Community CollegeHagerstown2391,22519.5
Coppin State UniversityBaltimore1951,06318.3
Allegany College Of MarylandCumberland16490018.2
Cecil CollegeNorth East4023317.1
Prince George'S Community CollegeLargo3932,35316.7
Morgan State UniversityBaltimore3862,33416.5
Community College Of Baltimore CountyBaltimore5353,33316.0
University Of Maryland - Eastern ShorePrincess Anne1941,29514.9
Anne Arundel Community CollegeArnold2912,06414.0
Wor-Wic Community CollegeSalisbury4332413.2
Frederick Community CollegeFrederick5341312.8
Bowie State UniversityBowie2061,68912.1
Montgomery CollegeRockville2782,37411.7
College Of Southern MarylandLa Plata8574711.3
Carroll Community CollegeWestminster54610.8
Harford Community CollegeBel Air4037210.7
Howard Community CollegeColumbia838459.8
Frostburg State UniversityFrostburg1061,3757.7
University Of Maryland University CollegeAdelphi70410,0207.0
University Of BaltimoreBaltimore1311,8736.9
University Of Maryland - Baltimore CountyBaltimore1182,3644.9
Towson UniversityTowson1824,2184.3
Salisbury UniversitySalisbury651,8583.4
University Of Maryland, College ParkCollege Park1265,1992.4
University Of Maryland, BaltimoreBaltimore251,6501.5
Saint Mary'S College Of MarylandSaint Marys City42981.3
Source: U.S. Department of Education

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