Student Default Rates
LIM College's student loan default rate is significantly below the national average.
Trend in Three-Year Cohort Default Rate
|
|
FY2017 |
FY2018 |
FY2019 |
|
LIM College |
6.8% |
5.4% |
2.2% |
|
Total Students in Repayment |
483 |
569 |
585 |
|
Students in Default |
33 |
31 |
13 |
|
Public |
9.3% |
7.0% | 2.3% |
|
Private |
6.7% |
5.2% |
1.7% |
|
Proprietary |
14.7% |
11.2% |
3.1% |
|
National Average |
9.7% |
7.3% |
2.3% |
*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 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.