Default rate!
What is the school's current default rate in the U.S ?
In September, 2006 it was announced that the FY 2004 national cohort default rate was 5.1 percent.
This is the most recent official cohort default rate.
The FY 2005 national cohort default rate was 4.6 percent.
The FY 2006 national cohort default rate was 5.2 percent.
Default rates are receiving a lot more attention these days. I still don't understand how a school can be held responsible for the actions of a graduate.
Joseph,
Many people share your concerns. But the best way to approach CDR is to ensure that your students have all of the information about their rights as a student loan borrower, and know how to use those rights, before leaving school. Inevitably there are some former students who will always fall delinquent or into default, but if you provide them with the extensive preventative behaviors they can exercise to stay in good standing with their loans, you will fulfill your obligation as a school and see positive results.
Diana Mateer
The FY 2009 national cohort default rate was 8.8 percent.
The FY 2010 3-year national cohort default rate is 14.7 percent, and the FY 2011 2-year national cohort default rate is 10.0 percent.
The national default rates have increased year over year. As a school, we are always looking at ways to address our default way, and improve. Is there anything from a national and/or governmental perspective in place to assist schools and address the national increases?
