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 2011 Fiscal Year Direct Loan Default Rate is 3.2% (three-year rate). By comparison, the National 2011 Fiscal Year Default Rate is 13.7% (three-year rate).