| Author(s): | Kantrowitz, M. |
| Title: | Analysis of preliminary FY2009 2-year cohort default rates |
| Source: | http://www.finaid.org/educators/20110523default... |
| Date: | 2011 |
| Organization: | FinAid |
| Short Description: | According to a May 20, 2011 announcement by the US Department of Education, the preliminary draft FY2009 2-year cohort default rate is 8.9%, up from 7.0% for FY2008 and 6.7% for FY2007. |
| Annotation: | According to a May 20, 2011 announcement by the US Department of Education, the preliminary draft FY2009 2-year cohort default rate is 8.9%, up from 7.0% for FY2008 and 6.7% for FY2007. Official default rates won’t be published until September, after colleges have had a chance to correct errors in the data, but national aggregate statistics generally do not demonstrate much movement from draft to final publication. This is the highest 2-year cohort default rate since 1997, but still well below the 22.4% peak in 1992 that lead to passage of stricter controls on college eligibility for federal student aid as part of the Higher Education Amendments of 1992. |
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