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Cohort Default Rate

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).

Luther College's 2010 Fiscal Year Direct Loan Default Rate is 2.5% (three-year rate). By comparison, the National 2010 Fiscal Year Default Rate is 14.7% (three-year rate).