Cohort Default Rate

The cohort default rate is calculated using actual payment records of the student borrower. A 3-year cohort default rate is the percentage of a school’s borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year. Repayment begins 6 months after a student is no longer enrolled for at least 6 credit hours. Default occurs when a student is in repayment, but fails to make their payment for 270 days or more. Data from the most recent years is provided below. The numbers below represent the 3 year cohort default rate as well as the previously calculated 2 year cohort default rate which is no longer in use.

3 Year Rate:

Year 3 Rates
Academic Year CohortDefault Rate
2014-15 (FY 15)6.1%
2013-14 (FY 14)6.8%
2012-13 (FY 13)8.6%
2011-12 (FY 12)
10.0%
2010-11 (FY 11)12.4%
2009-10 (FY 10)11.2%
2008-09 (FY 09)6.3%

2 Year Rate:

Year 2 Rates
Academic Year CohortDefault Rate
2010-1110.1%
2009-105.2%
2007-084.8%
2006-075.0%
2005-065.5%