The US Department of Education released today (September 14, 2009) the official FY2007 cohort default rates. The official rates were slightly lower than the draft FY2007 cohort default rates released earlier this year (on March 26, 2009).
CDR Draft Official
National 6.9% 6.7%
FFELP 7.3% 7.2%
Direct Loans 5.3% 4.8%
A searchable database of cohort default rates for schools
A searchable database of cohort default rates for lenders
The following table illustrates changes from FY2006 to FY2007 by control of institution:
Control FY2006 FY2007 Change
Public 4.7% 5.9% +1.2%
Private 2.5% 3.7% +1.2%
For-Profit 9.7% 11.0% +1.3%
Foreign 1.2% 2.2% +1.0%
TOTAL 5.2% 6.7% +1.5%
Detail for for-profit colleges is shown in the following table:
Level & Control FY2006 FY2007 Change
< 2 year 10.9% 12.0% +1.1%
2-3 year 11.1% 12.5% +1.4%
4+ year 8.4% 9.8% +1.4%
The Department has not published preliminary 3-year cohort default rate data. I do not expect them to publish this data until mid-September 2011.
Publisher of FinAid.org and FastWeb.com
- Indian Education Market: Ready, Steady...
- Announcing IIR's Education Industry Investment For...
- Toby Chu and CIBT Education: The Future is Oversea...
- Green Dot Schools
- Why Online Learning?
- When, Where, What, How and Why?
- Felonies Upon Felonies with Advances in Technology...
- Education: Reaching the Inner Monkey
- Seattle at Night
- Lunch with Tom Vander Ark and Karen Vander Ark
- Bill and Melinda Gates Foundation in Seattle
- Judith Murray, Vice President -- Open Learning, Th...
- Brief Notes from Vancouver -- Seattle
- Personal and Professional
- Speakers at the 12th Annual Education Industry Inv...
- "I'm Busted" as sung by Ray Charles
- The Printed Book -- What is Tangible and What is C...
- Rob Crawford Explains the Future of American Educa...
- Steve Cooper: Self-Actualization in the Internet V...
- Contact the Director of Education Industry Investm...
- Gene Hayes -- The Internationalist
- Mark Kantrowitz Supplies Data on Cohort Default Ra...
- Education Entrepreneurship in India
- The Flattening of the Education Model in For-Profi...
- Culture in the Desert
- Steve Cooper: Self-Actualization in the Internet
- Rob Crawford and Hidden Disabilities 101
- Questions over New York City Teacher Pay Links to ...
- Asking Harvard's Dean of Admissions Anything You'd...
- What We're Reading on the Web Today
- Life Development Institute on Qatar Competition Sh...
- New York Times: What Are You Reading?
- ▼ September (33)