By Kevin Kuzma, Editor
Career College Central has published the last trial set of three-year cohort student loan default data that was released by the US Department of Education today. Once again, the numbers show for-profit schools tallying the highest cohort default rate of all the sectors. This is custom given that for-profit colleges have a far greater number of at-risk students enrolled than traditional colleges and universities, or community colleges.
You can review the spreadsheet compiled by the Department that includes default rates for thousands of institutions organized by state here.
According to the data, about 25 percent of borrowers who attended for-profit colleges and entered repayment on their loans in 2008 went on to default within three years. The next highest default rates came in the community college sector, as nearly 18 percent of borrowers from two-year public institutions defaulted on their loans within three years of leaving college in 2008. Only about 10.8 percent of students defaulted at public institutions. The default number dropped to 7.6 percent for those students attending private institutions.