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Chart: Three-Year Default Rates on Student Loans

Chart: Three Year Default Rates on Student Loans

by Sharona Coutts -- December 16, 2009

Earlier this week, the Department of Education made public the rates at which students are defaulting on their loans three years after graduation, reporting that students at the larger for-profits were defaulting at a rate of around 20 percent. Those are similar to levels, last seen during the early 1990’s, that prompted the last major changes in how government regulates the industry.

Read the related story.

Two-Year Cohort Default RateTrial Three-Year Cohort Default Rate
NameCityStateType & ControlEnrollmentNumber Entered Into DefaultNumber Entered Into Repayment2 Year Default RateNumber Entered Into DefaultNumber Entered Into Repayment3 Year Default Rate
University of PhoenixPhoenixAZProprietary369,123 9,941 106,702 9.317,016 106,594 15.9%
American InterContinental UniversityHoffman EstatesILProprietary1,987 2,616 24,792 10.54,879 24,737 19.7%
DeVry UniversityChicagoILProprietary31,275 2,201 24,403 9.04,028 23,487 17.1%
Western International UniversityPhoenixAZProprietary25,951 4,017 21,706 18.55,757 21,696 26.5%
Kaplan UniversityDavenportIAProprietary53,212 2,676 19,991 13.34,054 17,428 23.2%
Pennsylvania State University (The)University ParkPAPublic 4 Year46,776 483 13,694 3.5726 13,669 5.3%
Baker CollegeFlintMIPrivate 4 year8,159 982 12,906 7.62,593 12,914 20.0%
Colorado Technical UniversityColorado SpringsCOProprietary3,598 1,411 12,842 10.92,871 12,834 22.3%
Ohio State University (The)ColumbusOHPublic 4 Year60,466 322 11,357 2.8626 11,357 5.5%
Strayer UniversityWashingtonDCProprietary47,138 647 10,692 6.01,388 10,673 13.0%