Cohort Default Rate
The Average Rate Formula is used to calculate the official cohort default rate for a school with 29 or fewer borrowers entering repayment during a cohort fiscal year if that school had a cohort default rate calculated for the two previous cohort fiscal years. If a school does not have 3 consecutive years of CDR data to calculate the Average Rate Formula, the rate is considered unofficial. In addition, cohort default rate data for schools with 10 borrowers or less in repayment will not be shown.
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