Cohort Default Rate Web Center
The Cohort Default Rate (CDR) is a measure used by the U.S. Department of Education (ED) to track federal student loan defaults during the first three years of repayment for borrowers who graduated during that fiscal year. CDRs are calculated annually. Draft rates are issued in March to postsecondary institutions for their borrower cohorts. ED publishes an official national CDR, and distributes official rates to institutions, in September.
NASFAA Resources
- Understanding Cohort Default Rates
- AskRegs: What Are the Cohort Default Rate Thresholds, and What Are the Consequences For Exceeding Them?
- AskRegs: How Do I Find National Average Default Rate Data?
- Student Aid Reference Desk: Cohort Default Rates
- Compiled Regulations: Sec. 668.202 Calculating and applying cohort default rates
NASFAA’s Today’s News Coverage
- September 25, 2026 - New FSA Data Shows Increase in Institutional Nonpayment Rate, Borrowers in Default
- September 18, 2026 - Cohort Default Rates Expected to Rise for First Time Since Pre-Pandemic Era
- September 4, 2026 - ED Announces New Initiative Aimed at Supporting Institutions With Student Loan Default
Department of Education Resources
- (LOANS-26-08) FY 2023 Official National Student Loan Cohort Default Rate Briefing
- (LOANS-26-03) Distribution of FY 2023 Draft Cohort Default Rates and Appeal Timeline
- (ANN-26-19) Online Training Courses – Cohort Default Rates and Default Prevention
- Default Prevention and Management
- Cohort Default Rate Guide
- Student Loan Delinquency and Default
- Defaulted Loans Support Center
Publication Date: 10/1/2026
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