Posted Date: June 6, 2014
Brenda Wensil, Acting Chief Risk Officer, Risk Management, Federal Student Aid
Subject: Default Rates for Cohort Years 2007-2011
Attached is an explanation of four types of federal student loan default rates measured by the Department and a summary of these rates for the cohort years 2007-2011. The four types of rates are the 2-Year and 3-Year Cohort Default Rates, the Budget Lifetime Default Rate (as reflected in the latest estimates as of July 2013), and the Cumulative Lifetime Default Rate.