Federal Financial Aid Regulations [The Higher Education Act of 1965 (HEA), as amended by the Higher Education Opportunity Act of 2008 (HEOA)] requires financial aid offices to provide consumer information to prospective and currently enrolled students, and the broader public. The Consumer Information guide provides links and information related to each consumer information requirement. If you are unable to access the downloadable PDF document, please contact the Office of Financial Planning to request a paper copy of the information.
Title IV Federal Financial Aid – Default Rates
As defined by the U.S. Department of Education, the Official Cohort (3-Year) Default Rates for Schools is “the percentage of a school’s borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1st to September 30th, and default or meet other specified conditions prior to the end of the second following fiscal year.”
The Department of Education has released the FY2018 official cohort default rates (CDR) for Palmer, and other institutions. Below are Palmer’s CDR rates for the most recent years:
FY2018 – 1.2%
FY2017 – 1.6%
FY2016 – 1.2%
FY2015 – 1.9%