From FY 2014 to FY 2015, cohort default rates fell for public and private institutions while rising slightly among borrowers who attended proprietary schools.
For public institutions, the FY 2015 rate, 10.3 percent, fell from 11.3 percent in FY 2014. Public institutions make up approximately 27 percent— or 1,660 — of the total number of schools and represent approximately 53 percent of borrowers who entered repayment that year. The rate dropped among private schools from 7.4 percent in FY 2014 to 7.1 percent in FY 2015. Private schools comprise approximately 28 percent — or 1,726 — of the total number of schools.
Among the 2,364 proprietary institutions in the borrower cohort, the default rate went from 15.5 percent for FY 2014 to 15.6 percent for FY 2015. Proprietary schools accounted for approximately 38 percent of the total number of schools. Additionally, 405 foreign schools saw their rate remain at 3.5 percent for FY 2014 and FY 2015. Foreign institutions make up nearly 7 percent of all post-secondary schools.
The Department’s default management website provides information about the national student loan default rate, as well as rates by individual schools, states, types of post-secondary institutions, and other details.
Texas State Technical College’s FY 2015 rate, 7 percent, fell from 9.5 percent in FY 2014 and is below the national average.
Learn more about the cohort default rate.