Table 332.50.

Number of postsecondary students who entered the student loan repayment phase, number of students who defaulted within a 3-year period, and 3-year student loan cohort default rate, by level and control of institution: Fiscal years 2010 through 2013

Fiscal year, number of students, and default rate	All institutions				Less-than-2-year institutions				2-year institutions				4-year institutions
	Total1	Public	Private		Total	Public	Private		Total	Public	Private		Total	Public	Private
			Non- profit	For- profit			Non- profit	For- profit			Non- profit	For- profit			Non- profit	For- profit
1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17
Fiscal year 2010
Number of students
Entering repayment phase       in given fiscal year2	4,082,570	1,922,773	879,269	1,270,965	178,904	7,963	5,020	165,921	950,143	599,467	16,217	334,459	2,943,960	1,315,343	858,032	770,585
Defaulting by end of second       following fiscal year3	600,545	250,661	72,347	277,088	37,223	1,315	1,097	34,811	199,922	125,764	2,305	71,853	362,951	123,582	68,945	170,424
3-year cohort default rate4	14.7	13.0	8.2	21.8	20.8	16.5	21.8	20.9	21.0	20.9	14.2	21.4	12.3	9.3	8.0	22.1
Fiscal year 2011
Number of students
Entering repayment phase       in given fiscal year2	4,732,793	2,252,334	969,156	1,500,812	202,526	8,750	6,567	187,209	1,174,583	767,073	16,861	390,649	3,345,193	1,476,511	945,728	922,954
Defaulting by end of second       following fiscal year3	650,727	292,012	70,186	288,126	41,526	1,196	1,644	38,686	237,571	158,104	2,026	77,441	371,227	132,712	66,516	171,999
3-year cohort default rate4	13.7	12.9	7.2	19.1	20.5	13.6	25.0	20.6	20.2	20.6	12.0	19.8	11.1	8.9	7.0	18.6
Fiscal year 2012
Number of students
Entering repayment phase       in given fiscal year2	5,143,918	2,563,157	1,083,328	1,486,162	209,036	10,151	10,336	188,549	1,301,109	905,058	42,274	353,777	3,622,502	1,647,948	1,030,718	943,836
Defaulting by end of second       following fiscal year3	610,956	301,453	73,747	235,384	36,952	1,241	2,318	33,393	242,471	173,628	6,193	62,650	331,161	126,584	65,236	139,341
3-year cohort default rate4	11.8	11.7	6.8	15.8	17.7	12.2	22.4	17.7	18.6	19.1	14.6	17.7	9.1	7.6	6.3	14.7
Fiscal year 2013
Number of students
Entering repayment phase       in given fiscal year2	5,211,531	2,691,995	1,118,051	1,387,815	197,189	10,823	10,649	175,717	1,301,834	948,515	42,974	310,345	3,698,838	1,732,657	1,064,428	901,753
Defaulting by end of second       following fiscal year3	593,182	305,516	78,659	208,570	33,327	1,414	2,194	29,719	234,986	176,206	6,593	52,187	324,432	127,896	69,872	126,664
3-year cohort default rate4	11.3	11.3	7.0	15.0	16.9	13.0	20.6	16.9	18.1	18.5	15.3	16.8	8.8	7.3	6.5	14.0

1 Includes borrowers from foreign and unclassified schools, which account for less than 1 percent of borrowers and are not included elsewhere.

2 The repayment phase is the period when student loans must be repaid; it generally begins 6 months after a student leaves an institution. Students who enter the repayment phase during a particular federal fiscal year (October 1 through September 30) make up the cohort for that fiscal year. For example, members of the fiscal year (FY) 2013 cohort entered the repayment phase any time from October 1, 2012, through September 30, 2013.

3 Borrowers are considered to be in default if they make no payments for 360 days after missing a regularly scheduled payment.

4 The 3-year cohort default rate is the percentage of borrowers entering repayment during the specified fiscal year and defaulting by the end of the second fiscal year that follows. For example, the 3-year cohort default rate for FY 2010 is the percentage of borrowers who entered repayment during FY 2010 (any time from October 1, 2009, through September 30, 2010) and who defaulted by the end of FY 2012 (September 30, 2012). For purposes of computing default rates, if an individual or entity affiliated with the institution makes a payment to prevent a borrower’s default on a loan, the borrower is still considered in default.

NOTE: Data are for certain loans under the Federal Family Education Loan (FFEL) Program and the William D. Ford Federal Direct Loan Program (commonly referred to as the Direct Loan Program). Includes Federal Stafford Loans. Does not include PLUS loans, Federal Insured Student Loans (FISLs), or Federal Perkins Loans. For more details, see https://ifap.ed.gov/DefaultManagement/guide/attachments/CDRGuideCh2Pt1CDRCalculation.pdf. The default rates shown in this table for the FY 2010 cohort are no longer available online; therefore, no source for the FY 2010 rates can be provided.

SOURCE: U.S. Department of Education, Office of Federal Student Aid, Direct Loan and Federal Family Education Loan Programs, Cohort Default Rate Database; retrieved November 3, 2016, from http://www2.ed.gov/offices/OSFAP/defaultmanagement/schooltyperates.pdf. (This table was prepared November 2016.)