Student Default Rates

Trend in Three-Year Cohort Default Rate

  FY 2010 FY 2011 FY 2012 FY 2013 FY 2014
LIM College 8.4% 8.4% 5.7% 3.9% 5.0%
Total Students in Repayment 344 428 473 487 560
N Students in Default 29 36 27 19 28
Public 4-year 9.3% 7.9% 7.6% 7.3% 7.5%
Private 4-year 8.0% 7.3% 6.3% 6.5% 7.0%
Proprietary 4-year 22.1% 23.0% 14.7% 14.0% 14.6%
National Average 14.7% 13.4% 11.8% 11.3% 11.5%

* 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 specifiedconditions 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.