Montana Student Loan Agency Averts $200 Million Dollars From Default

Tue, 23 Sep 2008 11:50:59 -0600

The Montana Guaranteed Student Loan Program (MGSLP), a division within the Montana University System, today announced that it helped prevent more than $200 million dollars from defaulting from over 15,000 student loan borrowers.

“Preventing defaults is a positive outcome for all parties involved with student loans,” said Corena Benjamin, MGSLP’s Default Prevention Manager. “We have incorporated various new tools and techniques aimed at helping borrowers succeed in repaying their student loans and the results are encouraging.”

MGSLP’s Cohort default rate is a record low 2.3%. The national rate is 5.2%, which means that MGSLP’s rate is less than half the national average. Each September the U.S. Department of Education releases national student loan default statistics. The fiscal year 2006 student loan cohort default rate is the most recent rate available and is calculated by determining the percentage of borrowers who began repaying their loans between October 1, 2005 and September 30, 2006, and who defaulted before September 30, 2007.

Montana College Students Fall Deeper Into Debt

Tue, 04 Dec 2007 10:23:34 -0700

An article written by the Bozeman Daily Chronicle discusses rising college tuition rates and student loan debt in Montana. Ron Muffick, with the Montana Guaranteed Student Loan Program, gives the agency's perspective on tuition rates and student loan debt in Montana.

MGSLP News

Montana Student Loan Agency Averts $200 Million Dollars From Default

Montana College Students Fall Deeper Into Debt