FY 2013 Official 3-Year Cohort Default Rates Distributed September 26, 2016
On September 26, 2016, Fiscal Year 2013 3-Year Official Cohort Default Rates were released to all schools via their Student Aid Internet Gateway (SAIG) mailbox. Any school that did not have a borrower in repayment, during the current cohort default rate period will not receive an Official Cohort Default Rate notification package. These schools are considered to have no cohort default rate data and no default rate. Any school not enrolled in the eCDR process may download their cohort default rate and accompanying documentation from the National Student Loan Data System (NSLDS) via the NSLDS Professional Access Web site.
The Fiscal Year 2013 3-Year CDR is calculated by dividing the number of borrowers who entered repayment in 2013 by the number of borrowers who entered repayment in 2013 and defaulted in 2013, 2014 or 2015. A school with a high default rate may lose its eligibility to participate in Federal Student Aid Programs. Generally, schools with 3-year CDRs of 30% or greater for three consecutive years or with CDRs greater than 40% for one year may face federal sanctions such as loss of participation.
After the release of the 2013 3-Year Official rates on September 26th, the 2013 Official Cohort Default Rates were posted publicly to the Default Management Web site and the FSA Data Center on Wednesday, September 28, 2016.