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Default Rates at Minnesota Institutions
The federal government computes default rates for students with federally guaranteed loans. The Two-Year Cohort Default rate for Fiscal Year 2009 is the number of borrowers who defaulted within 12 to 24 months after leaving postsecondary education. This document lists the two-year 2009 cohort default rate for each institution in Minnesota that participates in the federal student loan program. Minnesota had a two-year default rate of 5.8 percent in 2009, compared to the national default rate of 8.8 percent.
Prior to the release of the 2007 federal cohort default rates, the rates have been two-year rates. In 2007 and 2008, the federal government also published three-year rates, which calculated the percentage of borrowers who defaulted within 12 to 36 months after leaving postsecondary education.
The three-year federal default rates were higher overall. The three-year default rate for 2008 for students who attended postsecondary institutions in Minnesota was 7.6 percent, compared to the national three-year rate of 13.8 percent.
- Student Loan Default Rates in Minnesota, 2009
[15 pgs; release date: October 2011] - Student Loan Default Rates in Minnesota, 2008
[15 pgs; release date: February 2011] - Student Loan Default Rates in Minnesota, 2007
[15 pgs; release date: January 2010] - Cohort Default Rates at Minnesota Postsecondary Institutions, 2006
[9 pgs; release date: September 2008] - Cohort Default Rates at Minnesota Postsecondary Institutions, 2005
[10 pgs; release date: September 26, 2007] - Cohort Default Rates at Minnesota Postsecondary Institutions, 2004
[9 pgs; release date: December 4, 2006] - Cohort Default Rates at Minnesota Postsecondary Institutions, 2003
[8 pgs; release date: October 5, 2005]
