For the third consecutive year, the student loan default rate report issued by the Ontario Ministry of Training, Colleges and Universities shows Conestoga College with the best record of any of the province's community colleges.
The report deals with the Ontario Student Assistance Program (OSAP). The Conestoga default rate stands at 10.4 per cent.
The Conestoga result is significant in three ways. First, it is much better than the 16.0 per cent average for the community college system. Second, it is very close to the Ministry-defined target of loan default reduction for postsecondary institutions to 10.0 per cent for each institution by 2003-2004. The goal was set in 1997-1998. Third, it continues Conestoga's outstanding record of loan default improvement -- from 20.8 per cent in 1998 to 16.6 in 1999 to 12.5 in 2000 to 11.2 in 2001 to 10.4 in 2002.
"This record of improvement indicates that Conestoga continues to be committed to a number of important processes," says Associate Registrar Janeen Hoover. "We strive to ensure that those admitted to the College are well suited to their academic programs, that these programs are in tune with economic realities and employment prospects, that admission and graduation levels are appropriate to the level of employment opportunities, and that Conestoga's financial assistance and bursary program, over and above OSAP, aids students to complete their studies and successfully enter the employment market."
The college system average of 16.0 per cent compares to the university average of 7.5 per cent and the private vocational school average of 24.2 per cent.
The 2002 loan default report reflects data for students issued loans in the 1999-2000 academic year, but who are in a loan default position as of July 2002. To review loan default performance tables go to http://osap.gov.on.ca, the Web site of the Ontario Student Assistance Program.
CONTACT: Janeen Hoover, 519-748-5220, ext. 3705, jhoover@conestogac.on.ca