Postsecondary Education

Finance and Resources

Table A-49-2. Number of students at degree-granting institutions who have entered the repayment phase of student loans, number of students in default, and 2-year student loan cohort default rates, by level and control of institution: Fiscal years 2006–08

Level and control of institution	Number of students who have entered repayment phase	Number of students who have entered repayment and are in default	2-year cohort default rate¹

	Fiscal year 2006

All institutions	3,715,745	181,492	4.9
2-year institutions	805,741	71,175	8.8
Public	562,215	45,881	8.2
Private not-for-profit	12,138	827	6.8
Private for-profit	231,388	24,467	10.6

4-year institutions	2,910,004	110,317	3.8
Public	1,451,795	49,632	3.4
Private not-for-profit	1,003,880	23,051	2.3
Private for-profit	454,329	37,634	8.3
	Fiscal year 2007

All institutions	3,158,499	202,247	6.4
2-year institutions	759,050	79,954	10.5
Public	508,950	49,257	9.7
Private not-for-profit	11,194	1,048	9.4
Private for-profit	238,906	29,649	12.4

4-year institutions	2,399,449	122,293	5.1
Public	1,225,091	53,512	4.4
Private not-for-profit	737,206	25,496	3.5
Private for-profit	437,152	43,285	9.9
	Fiscal year 2008

All institutions	3,179,704	213,339	6.7
2-year institutions	764,620	81,007	10.6
Public	514,091	50,428	9.8
Private not-for-profit	11,966	996	8.3
Private for-profit	238,563	29,583	12.4

4-year institutions	2,415,084	132,332	5.5
Public	1,218,257	53,644	4.4
Private not-for-profit	718,215	26,361	3.7
Private for-profit	478,612	52,327	10.9

¹ The 2-year cohort default rate is the percentage of 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 (a fiscal year runs from October 1 to September 30) and default or meet other specified conditions within the cohort default period. The cohort default period is the two-year period that begins on October 1 of the fiscal year when the borrower enters repayment and ends on September 30 of the following fiscal year. NOTE: Degree-granting institutions grant associate's or higher degrees and participate in Title IV federal financial aid programs. For more information on the Integrated Postsecondary Data System (IPEDS), see supplemental note 3. Default rates were calculated using student counts by institution from the Federal Student Aid Cohort Default Rate Database and the IPEDS classification of institutions. For more information on the IPEDS classification of institutions, see supplemental note 8. The repayment phase is the period when student loans must be repaid and generally begins 6 months after a student leaves an institution. SOURCE: U.S. Department of Education, Federal Student Aid, Direct Loan and Federal Family Education Loan Programs, Cohort Default Rate Database, retrieved November 5, 2010, from http://www2.ed.gov/offices/OSFAP/defaultmanagement/cdr.html.

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