Tennessee Independent Colleges and Universities Association

Private Colleges Serving Tennessee


Two-Year Cohort Default Rate on Federal Student Loans for Tennessee Higher Education Institutions Granting Associate Degree or Higher

 

In the State of Tennessee, students who borrow money from the federal government to attend a TICUA member institution are much less likely to default on those loans than students attending other all types of institutions.

Across the country, for-profit institutions have the highest default rate with a national average of 15%. "Nearly half of the 320,000 defaulting borrowers who began repayment in fiscal 2009 were enrolled at for-profit colleges, said James Kvaal, the deputy undersecretary for education, during a conference call with reporters."*

The two-year cohort default rate (calculated by the US Department of Education) is a measure of the number of student loan borrowers in default two years after the repayment period began. The chart above contains the most recently released data and represents individuals in the 2009 Fiscal Year Cohort (October 2008-September 2009) who had defaulted by October 2010.
Source:  US Department of Education, Analysis performed by TICUA.

* Default Rates Up Again, Inside Higher Education, September 13, 2011
retrieved from http://www.insidehighered.com/news/2011/09/13/education_dept_releases_student_loan_default_rates_for_2009

Message from TICUA President Claude Pressnell: This message is part of an ongoing series of charts that the Tennessee Independent Colleges and Universities Association will share in the coming months, highlighting the impact of our 35 member campuses. We hope that you will find this information helpful. Please contact us for additional information either by phone at 615-242-6400 or email at research@ticua.org.