Cohort Default Rates

What is a “cohort” in regard to student loans?

It is all of a college’s current and former students who during a fiscal year enter into repayment status of any Direct Subsidized Loan, Direct Unsubsidized Loan, or Federal Stafford Loan they received to attend college. 

What is a federal student loan cohort default rate?

It is the number of students in a cohort who default on their loans during a fiscal year, divided by the total number of students in the cohort. 

How is the cohort default rate calculated?

The cohort of students who enter into repayment status is monitored for a three year period. The number of students who enter into a default status during those three years become the numerator and the total number of cohort students become the denominator, which results in a percentage.

Example: 

Total number of students who enter repayment status in fiscal year 2013
                      AND default in fiscal years 2013, 2014, and 2015                     
Total borrowers who enter repayment status during fiscal year 2013

In this example, the cohort default rate is scheduled to be published in 2016.

What is MTSU’s cohort default rate?

You can find MTSU’s cohort default rates at this link.

What is the national default rate?

On the Federal Student Aid Knowledge Center website, search for National Default Cohort Rate.