Note that the default rate only takes into account federal loans, not private. When compared to the average three-year default rate of 9. 3%, the default rate at Great Lakes Christian College is poor. This could indicate that students attending Great Lakes Christian College are relying heavily on student loans, including unsubsidized student loans. Review financial aid offers carefully and be honest with yourself about whether you can truly afford this college. If you will need to utilize loans each year, be sure to calculate the total amount borrowed after four to five years, and an estimated monthly payment. If your loan includes an unsubsidized amount, can you afford to make the interest payments while you are attending college? If not, be sure to add that to the total. Asking the tough questions now can help prevent you from starting your future with a large amount of debt that you cannot reasonably afford. Did You Know? Declaring bankruptcy does not remove student loan debt owed to the Federal government.
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