While the national student loan default rate jumped from 7 percent to 8.8 percent between fiscal years 2009 and 2011, the default rate at Washington University dropped from 2.2 percent to 2.1 percent.

Although the University’s default rate is significantly lower than the national average, it ranks second highest on default rates among the top 20 universities in the US. Princeton University has the highest figure at 2.2 percent, whereas the California Institute of Technology has the lowest rate at 0 percent.

Bill Witbrodt, director of Student Financial Services at Washington University, said that a variety of factors can affect the figures, including the struggling economy, a weak job market, geographic location, lack of understanding of loan terms and lack of proactive communication with loan servicers.

“Student Financial Services will continue to work with students to minimize the amount of student loans they acquire and educate borrowers about how to manage their loans,” Witbrodt said.

Assistant Vice Chancellor and Director of the Career Center Mark Smith is optimistic about Washington University students’ ability to pay back loans.

“We have a very strong hiring rate every year. Many competitive companies consistently hire Wash. U. graduates in double digits. The Career Center will be helping with students, not necessarily only on paying back loans. And we continue to reach out to, and work with students once they graduate, which I don’t think a lot of people know,” Smith said.

Students are interested in the discrepancies between the national average default rates and those of the nation’s top schools.

“I think the most interesting thing about the data is the fact that if Wash. U. is significantly lower than average on the default rate, but it has one of the highest default rates among the top 20 schools,” sophomore Lauren Sexton said. “Why is it that the higher-ranked institutions have such a low default rate in the first place? Is it because their endowments tend to be so large and they can afford to give out loads of scholarships? Is it because we all get good jobs and can pay?”

Despite the University’s poor ranking on default rates among top schools, Sexton believes the University’s debt-bearing graduates are still in decent shape.

“Also, I think that us being number two on that scale may be bad, or it may just seem worse than it is. After all, if numbers three to 12 all have default rates of 2 percent, and we are only .1 percent worse off, that’s really not that big a deal and more just a matter of splitting hairs,” she said.

Smith also asserted that job-hunting in the United States might be harder for international students.

“As the US government has increased regulation, it has been more burdensome for US companies to hire foreign nationals,” Smith said.

For this reason, Smith suggested that international students reach out early to potential US employers, or look for jobs overseas.

Qian Cao is a junior international student who has been receiving student loans from the University.

“I’m very grateful for this service, since it has done a big part in helping me stay at Wash. U. And that’s the purpose of this loan, to help students who want to be here to be able to stay. So in the grand scheme of things, I think the loan is benefiting many, regardless of the increase in interest,” Cao said.

Most students are pleased with the level of financial assistance the University has continued to offer.

“I think Wash. U. is trying to balance its difficulties in economic situations with its goal to attract good students, regardless of their financial status,” junior Danni Liu said.