Low Default Rate and What it Means for You
Eastern International College (EIC), with campuses in Jersey City and Belleville, educate its students in more than just its health care programs: It teaches them about the importance of repaying their student loans.
Eastern International College’s team says that the key to ensuring that students do not default on their loans is to build good rapport with the students so that they want to pay their loans back because they received a good educational experience.Eastern International College’s 2014 official 3-year cohort default rate is 0.0%. (It was 2013 official cohort default rate is low 2% when this article was originally written)
A default manager,the financial aid department and the registrar’s offices in both Jersey City and Belleville work to assure that this number is as low as possible. The draft default The federal government is satisfied if the default rate is under 14 percent, but EIC’s rates fall well under that and keeps dropping. The draft 3- year 2014 default cohort rate which would be the latest one is 0.0%. It is a group effort.
In addition to providing an education, EIC stresses the importance of student loan repayment from the beginning of school, counseling students starting in orientation. Students receive a comprehensive breakdown of the loan repayment process and address any concerns they may have before they start their program.
Securing a job after graduation surely helps keep the default rate down, when students have a job, they are more motivated to make their payments and more importantly, to keep their credit high and bills paid because they have long-term financial and life goals they wish to achieve, states EIC’s team.
Eastern International College makes every effort to assist each graduate in obtaining gainful employment. Students are required to meet with the career services director before graduation and once they meet their graduation requirements, an interview and appointment with Career Services is organized.
The combination of students being continually informed about student loan repayment, the school’s hands-on Career Services department, and the rapidly growing health care field all work to make Eastern International College’s cohort default rate one of the lowest in the region.
This article was updated on September 29, 2017 to reflect the latest default rate.
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