Student Default Rates

LIM College's student loan default rate is significantly below the national average.

 

Trend in Three-Year Cohort Default Rate

 

FY 2016

FY2017

FY2018

LIM College

6.2%

6.8%

5.4%

Total Students in Repayment

508

483

569

Students in Default

32

33

31

Public 4-year

9.6%

9.3%

7.0%

Private 4-year

6.6%

6.7%

5.2%

Proprietary 4-year

15.2%

14.7%

11.2%

National Average

10.1%

9.7%

7.3%

 

* Data on the 3-year cohort default rate are 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.