TERRE HAUTE, Ind. (WTHI)- A new report shows Indiana State University has one of the highest student default rates in the state.
A default rate is the percentage of all outstanding loans, that have been written off as unpaid after a period of missed payments.
If a payment is late by 270 days or 9 months, a student loan is considered a default.
Here's what the report showed:
The study had 4,398 institutions participate.
Of those and of that ISU ranks 62nd.
The state of Indiana has 79 schools and within those schools, there are 11,503 borrowers.
News 10 reached out to ISU's Provost and Vice President of Academic Affairs, Dr. Mike Licari to breakdown these numbers.
He says a price does come with walking the stage and graduating in 4 years. However, the goal at ISU is to make sure a student lands a job right out of college with a minimum starting salary of $50,000.
"That is the commitment that we're bringing to the table here, is to make sure that students are getting an affordable, high-quality experience that will pay off in the future for them," said Licari.
The school recognized the numbers and came up with a plan for the future.
Licari says the school has other options when it comes to being more financially stable. To learn more, click here.