In the fiscal year of 2019, around 4.1 percent of students who went to private, for-profit public 2-year institutions in the United States were in default on their loans. The default rate for students in the FY 2019 cohort was 1.9 percent at 4-year degree-granting postsecondary institutions, and 3.8 percent at 2-year degree-granting postsecondary institutions.
Percentage of students in default on student loans after attending 2-year and 4-year institutions United States in 2019, by institution type
Depicted here is the 3-year cohort default rate: The 3-year cohort default rate is the percentage of borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (a fiscal year runs from October 1 to September 30) and default or meet other specified conditions within the cohort default period. The cohort default period is the two-year period that begins on October 1 of the fiscal year when the borrower enters repayment and ends on September 30 of the following fiscal year.
Default rates were calculated using student counts by institution from the Federal Student Aid Cohort Default Rate Database and the IPEDS classification of institutions.
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NCES. (January 31, 2023). Percentage of students in default on student loans after attending 2-year and 4-year institutions United States in 2019, by institution type [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/237901/student-loan-default-rates-in-the-us/
NCES. "Percentage of students in default on student loans after attending 2-year and 4-year institutions United States in 2019, by institution type." Chart. January 31, 2023. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/237901/student-loan-default-rates-in-the-us/
NCES. (2023). Percentage of students in default on student loans after attending 2-year and 4-year institutions United States in 2019, by institution type. Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/237901/student-loan-default-rates-in-the-us/
NCES. "Percentage of Students in Default on Student Loans after Attending 2-year and 4-year Institutions United States in 2019, by Institution Type." Statista, Statista Inc., 31 Jan 2023, https://www.statista.com/statistics/237901/student-loan-default-rates-in-the-us/
NCES, Percentage of students in default on student loans after attending 2-year and 4-year institutions United States in 2019, by institution type Statista, https://www.statista.com/statistics/237901/student-loan-default-rates-in-the-us/ (last visited August 25, 2024)
Percentage of students in default on student loans after attending 2-year and 4-year institutions United States in 2019, by institution type [Graph], NCES, January 31, 2023. [Online]. Available: https://www.statista.com/statistics/237901/student-loan-default-rates-in-the-us/
