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| Federal Student Loan Programs Data Book - FY 1997-FY 2000
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| Part IV FFEL Program and FDLP Defaults and Collections | CONTENTS < BACK NEXT > |
Tables 52a-52c.
Federal Family Education Loan (FFEL) program cohort default rate for guaranty agencies: FY 1997-FY 1999
This set of tables shows a summary of the number of borrowers in default and in repayment for each guaranty agency in FY 1997, FY 1998, and FY 1999. The tables also show the borrower default rate and how the guaranty agencies are ranked.
Borrower default rates varied across guaranty agencies. For the FY 1997 cohort, default rates ranged from 28.6 percent (ECMC) to 1.3 percent (North Dakota). For the FY 1998 cohort, default rates ranged from a high of 10.3 percent (Rhode Island) to 0.0 percent (North Dakota). For the FY 1999 cohort the highest rate dropped to 7.9 percent (Montana) while the lowest rate increased to 1.8 percent (North Dakota).
The rankings of guaranty agencies with the highest and lowest cohort default rates did not change considerably for the FY 1997, FY 1998, and FY 1999 cohorts. For example, Texas and Tennessee ranked among the five guaranty agencies with the highest cohort default rates in all three years. In addition, Rhode Island, Montana, and Kentucky were among the five guaranty agencies with the highest default rates for two of the three cohorts.
North Dakota had the lowest default rate for each cohort. In addition, South Dakota was among the five agencies with the lowest default rates for all three cohorts. Finally, New Mexico, South Carolina, New Hampshire, and Vermont were among the five guaranty agencies with the lowest default rates for two of the three cohorts.
NOTE: The borrower cohort default rate is the fraction of borrowers entering repayment in a given fiscal year who default by the end of the following fiscal year.
To view the following table in an accessible format please go to http://www.ed.gov/finaid/prof/resources/data/fslpdata97-01/table52.xls.
These files are in Microsoft Excel format. If you do not have Excel, you can access the files by downloading the free Excel viewer at: http://office.microsoft.com/downloads/2000/xlviewer.aspx.
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Table 52a. - Federal Family Education Loan (FFEL) program cohort default rate for guaranty agencies: FY 1997 |
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Guaranty agency |
Borrower default rate* (%) |
Number of borrowers in default |
Number of borrowers in repayment |
|---|---|---|---|
| Arkansas |
8.7 |
1,067 |
12,251 |
| California |
10.3 |
12,592 |
121,991 |
| Colorado |
7.6 |
2,149 |
28,332 |
| Connecticut |
7.9 |
1,088 |
13,698 |
| ECMC |
28.6 |
209 |
731 |
| Florida |
9.7 |
5,630 |
58,207 |
| Georgia |
8.6 |
2,061 |
24,068 |
| Illinois |
7.4 |
4,362 |
58,731 |
| Iowa |
5.5 |
1,257 |
23,011 |
| Kentucky |
11.6 |
3,124 |
27,046 |
| Louisiana |
11.2 |
2,004 |
17,826 |
| Maine |
6.3 |
658 |
10,401 |
| Massachusetts |
7.7 |
4,895 |
63,810 |
| Michigan |
9.2 |
3,878 |
41,934 |
| Missouri |
10.1 |
2,247 |
22,218 |
| Montana |
9.0 |
769 |
8,537 |
| Nebraska |
10.3 |
2,428 |
23,623 |
| New Hampshire |
6.2 |
651 |
10,577 |
| New Jersey |
9.0 |
2,665 |
29,605 |
| New Mexico |
4.1 |
460 |
11,336 |
| New York |
9.5 |
11,647 |
121,986 |
| North Carolina |
4.7 |
683 |
14,636 |
| North Dakota |
1.3 |
121 |
9,087 |
| Oklahoma |
11.5 |
2,978 |
25,825 |
| Oregon |
7.8 |
977 |
12,523 |
| Pennsylvania |
6.8 |
9,416 |
137,465 |
| Rhode Island |
12.0 |
1,523 |
12,665 |
| South Carolina |
2.3 |
310 |
13,374 |
| South Dakota |
3.6 |
313 |
8,814 |
| Tennessee |
12.5 |
3,192 |
25,557 |
| Texas |
11.8 |
11,127 |
94,643 |
| USAF |
8.7 |
33,975 |
390,255 |
| Utah |
6.0 |
1,080 |
17,932 |
| Vermont |
4.1 |
280 |
6,882 |
| Washington |
9.0 |
3,042 |
33,813 |
| Wisconsin |
7.0 |
11,411 |
163,463 |
| Rank |
Guaranty agency |
Default rate (%) |
|---|---|---|
| 1 |
ECMC |
28.6 |
| 2 |
Tennessee |
12.5 |
| 3 |
Rhode Island |
12.0 |
| 4 |
Texas |
11.8 |
| 5 |
Kentucky |
11.6 |
| 6 |
Oklahoma |
11.5 |
| 7 |
Louisiana |
11.2 |
| 8 |
California |
10.3 |
| 9 |
Nebraska |
10.3 |
| 10 |
Missouri |
10.1 |
| 11 |
Florida |
9.7 |
| 12 |
New York |
9.5 |
| 13 |
Michigan |
9.2 |
| 14 |
Montana |
9.0 |
| 15 |
New Jersey |
9.0 |
| 16 |
Washington |
9.0 |
| 17 |
Arkansas |
8.7 |
| 18 |
USAF |
8.7 |
| 19 |
Georgia |
8.6 |
| 20 |
Connecticut |
7.9 |
| 21 |
Oregon |
7.8 |
| 22 |
Massachusetts |
7.7 |
| 23 |
Colorado |
7.6 |
| 24 |
Illinois |
7.4 |
| 25 |
Wisconsin |
7.0 |
| 26 |
Pennsylvania |
6.8 |
| 27 |
Maine |
6.3 |
| 28 |
New Hampshire |
6.2 |
| 29 |
Utah |
6.0 |
| 30 |
Iowa |
5.5 |
| 31 |
North Carolina |
4.7 |
| 32 |
Vermont |
4.1 |
| 33 |
New Mexico |
4.1 |
| 34 |
South Dakota |
3.6 |
| 35 |
South Carolina |
2.3 |
| 36 |
North Dakota |
1.3 |
| * The borrower cohort default rate is the fraction of borrowers entering repayment in a given fiscal year who default by the end of the following fiscal year |
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| Part IV FFEL Program and FDLP Defaults and Collections | CONTENTS < BACK NEXT > |
| Federal Student Loan Programs Data Book - FY 1997-FY 2000 |
|