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Student Default Rates

Trend in Three-Year Cohort Default Rate

  FY 2015 FY 2016 FY 2017
LIM College 4.6% 6.2% 6.8%
Total Students in Repayment 430 508 483
N Students in Default 20 32 33
Public 4-year 7.1% 6.8% 7.1%
Private 4-year 6.6% 6.3% 6.5%
Proprietary 4-year 14.3% 13.7% 13.1%
National Average 10.8% 10.1% 9.7%

* Data on the 3-year cohort default rate is from the U.S. Department of Education Default Prevention and Management website. The 3-year rate was officially adopted beginning with the 2009 cohort. A 3-year cohort default rate is the percentage of a school’s borrowers who enter repayment on certain federal loans during a federal fiscal year (FY) and defaulted or met other specified conditions prior to the end of the second following fiscal year. The average default rate for public, private, and proprietary institutions include 4-year and above degree-granting institutions. The national average includes all institutions reporting a 3-year cohort default rate. Cohort default rates are calculated for all borrowers who enter repayment during the given fiscal year, including both undergraduate and graduate students.