The Orange Book is a report that lists each school that participated in the Federal Perkins Loan (Perkins Loan) Program during the 2015-2016 Award Year and provides a cohort default rate for each school. This report is based on data submitted by schools in the Fiscal Operations Report for 2015-2016 and Application to Participate for 2017-2018 (FISAP).

292,351borrowers entered repayment in 2014-2015 and 33,633 of those borrowers defaulted. The U.S. Aggregate Total Cohort Default Rate for the 2015-2016 year is 11.5% and represents over $1 Billion in total principal outstanding on loans in default.