LUTHER COLLEGE LOAN DEFAULT RATE
The rate is a 3-year rate.
Because the national loan default rate is used to determine whether colleges are eligible to receive federal student aid, the national student loan default rate is one of the most closely watched metrics in higher education
What is a cohort default rate?
Each year the U.S. Department of Education calculates a cohort default rate on Federal Direct Loans by institution. A cohort default rate by definition is the percentage of a school's borrowers who enter repayment on certain Direct Loans during that fiscal year and default within the cohort default period (the end of the following fiscal year for a three-year rate).