Friday, September 29, 2017
ABA Journal, Which Law Schools Had Highest Loan Default Rates for Fiscal Year 2014? (Updated):
Six freestanding law schools recorded student loan default rates greater than 2 percent for Fiscal Year 2014, according to data released Wednesday by the U.S. Department of Education.
The Institute for College Access & Success, a nonprofit group that works to increase the public’s understanding of student debt, designed a sortable spreadsheet with the Department of Education data. Based on that offering, freestanding law schools with the largest percentages of student loan defaults for fiscal year 2014 were:
1. Massachusetts School of Law (4.8%)
2. Thomas Jefferson (3.8%)
3. Appalachian (2.9%)
4. San Joaquin College of Law (2.6%)
5. Thomas Cooley (2.5%)
6. John Marshall (Atlanta) (2.3%)
Update: ABA Journal, Is Department of Education Data on Student Loan Defaults an Accurate Reflection of Law Schools?:
Among the thousands of schools listed in the U.S. Department of Education’s student loan default data released last week, 23 were law schools, all of which have individual identification numbers for participating in Title IV aid. ...
There could be many more law schools with student loan default rates that aren’t included in the data, says Donald Lively, president of Arizona Summit School of Law.
“Law schools that are part of a university have their default rates aggregated with the university, so it is difficult to determine their default rates. Given that they constitute the vast majority of law schools, however, it could well be that some of them have the highest loan default rates,” Lively wrote in an email to the ABA Journal. His law school had a student loan default rate of 1 percent, according to the data. ...
There may be no way to answer the question of whether any law schools that share OPE ID numbers with affiliated universities have comparable default rates, says Jerome Organ, law professor at the University of St. Thomas School of Law in Minneapolis. Some of Organ’s work focuses on transparency in financial aspects of the decision to attend law school.