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Default Rate

 

Cohort default rate is the percentage of a school's borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1st to September 30th, and default or meet other specified conditions prior to the end of the second following fiscal year. The U.S. Department of Education releases official cohort default rates once per year. The FY 2019 official cohort default rates were released in September 2022.

The FY 2019 national cohort default rate is 2.3 percent.

Newman University’s cohort default rate is:

Cohort Fiscal Year

Official Default Rate

Number of Borrowers in Default

Number of Borrowers in Repayment

2019

 2.3

11

469

 
*Department of Education Default Management website