National CDR - All Years
| Cohort Year |
CDR |
Total Default |
Total Repay |
| 2007 |
6.7% |
225,371 |
3,345,534 |
| 2006 |
5.2% |
204,507 |
3,911,640 |
| 2005 |
4.6% |
161,951 |
3,495,584 |
| 2004 |
5.1% |
144,128 |
2,825,462 |
| 2003 |
4.5% |
115,568 |
2,551,432 |
| 2002 |
5.2% |
125,696 |
2,393,776 |
| 2001 |
5.4% |
130,036 |
2,380,741 |
| 2000 |
5.9% |
142,378 |
2,399,774 |
| 1999 |
5.6% |
130,861 |
2,299,533 |
| 1998 |
6.9% |
153,028 |
2,208,262 |
| 1997 |
8.8% |
188,832 |
2,153,253 |
| 1996 |
9.6% |
197,338 |
2,045,595 |
| 1995 |
10.4% |
199,346 |
1,918,453 |
| 1994 |
10.7% |
199,233 |
1,866,240 |
| 1993 |
11.6% |
212,062 |
1,826,625 |
| 1992 |
15.0% |
299,881 |
1,994,925 |
| 1991 |
17.8% |
380,346 |
2,135,595 |
| 1990 |
22.4% |
551,208 |
2,460,102 |
| 1989 |
21.4% |
619,229 |
2,900,297 |
| 1988 |
17.2% |
440,790 |
2,561,183 |
| 1987 |
17.6% |
418,717 |
2,381,087 |
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- The cohort default rate is the percentage of borrowers who enter repayment in a fiscal year and default by the end of the next fiscal year.
- The Department issues default rates according to the fiscal year that borrowers entered repayment. For example, the fiscal year 2007 default rate is based on students that entered repayment between 10/1/2006 and 9/30/2007. The Department publishes default rates approximately two years after the fiscal year that students enter repayment.
- The Department issued the first national default rates for fiscal year 1987 in calendar year 1989. Direct loan data was included for the first time with the fiscal year 1995 rates.
- In accordance with the Default Prevention and Management Initiative, the Department imposed congressionally mandated sanctions for the first time with the release of the fiscal year 1989 rates in calendar year 1991. Nearly 1,200 schools have lost student loan program eligibility since the beginning of the Default Management Initiative.
- The fiscal year 2007 rate included 5,776 schools. There has been an increase in the FY 2007 cohort default rate over last year's rate.
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