PLUS Loans, Federal Insured Student Loans (FISLs), and Federal Perkins Loans.
Borrowers in the cohort who default within cohort default three-year period (Numerator) Cohort of federal student loan borrowers who enter repayment during cohort fiscal year (Denominator) See Cohort Year Impact Understanding how to impact your school’s cohort default rate is crucial, as it directly depends on the time left in each cohort year to address delinquent accounts. Use this tool to see the time that has expired versus remaining within each cohort year.
The CDR is the percentage of borrowers in an institution’s cohort who default within the next three years after entering repayment. The denominator is built from those students who enter repayment between October 1 and September 30 but then can default for up to three years after the year the cohort began. Benefits of a Low CDR Aside from being able to offer Federal financial aid, schools with lower default rates are awarded extra benefits. Beginning with loans made on or after October 1, 2011, if a school’s official CDR is less than 15% for either the two-year or three-year CDR calculations, for the three most consecutive years, the school may deliver loan funds in a single installment if the loan is made for a single term in a standard term-based program. The same applies to nonstandard, term-based programs when the term is no longer than four months. Additionally, the school is not required to delay delivery of Stafford loan funds to first-year students who are first-time borrowers if the school’s three most consecutive official CDRs are less than 15%.
Scan code with your phone’s camera or click here.
Three-Year Cohort Default Rate Schedule
Repayment
Default
Cohort Rate Release
Default Prevention Deadline*
Cohort Year
Rehabilitation Deadline**
Start Date
End Date
Start Date
End Date
Draft Rate
Final Rate
2022
10/1/2021
9/30/2022 10/1/2021 9/30/2024 12/4/2023
1/1/2024
Feb 2025 Sep 2025
2023
10/1/2022 9/30/2023 10/1/2022 9/30/2025
12/4/2024
1/1/2025
Feb 2026 Sep 2026
2024
10/1/2023 9/30/2024 10/1/2023 9/30/2026 12/4/2025
1/1/2026
Feb 2027 Sep 2027
2025
10/1/2024 9/30/2025 10/1/2024 9/30/2027
12/4/2026
1/1/2027
Feb 2028 Sep 2028
2026
10/1/2025 9/30/2026 10/1/2025 9/30/2028 12/5/2027
1/1/2028
Feb 2029 Sep 2029
*Latest an account can become 60 days delinquent and still default by the end of the cohort year. **Latest date in which a repayment plan can be started and the loan be rehabilitated before the end of the cohort year and be removed from the cohort default rate. This assumes nine payments will be made with no gaps.
3
Powered by FlippingBook