Ozarka College has worked very hard to decrease the three-year Cohort Default Rate(CDR) and has been successful.   Efforts to monitor the default rate have been put in place with the Financial Aid department.   Some of these efforts included developing a Default Management Taskforce, developing a Default Management Plan,  enhancing face-to-face counseling each year, and working with a third party servicer.

"The 2011 three year cohort default rate is currently at 23.1%, which is a decrease of 18.7% from the 2010 three-year cohort default rate, " said Laura Lawrence, Ozarka College Director of Financial Aid.   "The projected number for the 2012 three-year cohort default rate is 20%. "

The percentage of students receiving loans, as well as the amount they are borrowing, has also decreased. During the 2010 academic year, 39.2% of enrolled students accepted a total of $5,415,312 in student loans.   During the 2013 academic year, only 35.99% of students accepted loans.   Their total amount borrowed was $3,902,358; thus creating a staggering $1.5 million dollar decrease in student loans.

Ozarka College's efforts in successfully lowering loan default rates and having fewer students need loans is just one way they work towards helping their students.   Students are provided with information on scholarships, payment plans, Pell grants, and work-study opportunities, which will help them with obtaining their educational goals with fewer loans. Having students earn degrees with less debt affords the students more opportunities for a brighter, more successful future.

Registration for Spring and Summer semester courses is now open. For more information about financial aid opportunities, please contact Laura Lawrence, Ozarka College Director of Financial Aid, at 870.368.2010 or llawrence@ozarka.edu