The National Default Rate Briefing for the Fiscal Year 2022 (FY 2022) Official Cohort Default Rates (CDRs) is attached. The briefing is provided in Portable Document Format (PDF) which requires 4.0 or greater of the free Adobe Acrobat Reader software.
The FY 2022 CDRs were calculated using the cohort of student loan borrowers who entered repayment on their William D. Ford Federal Direct Loan Program or Federal Family Education Loan (FFEL) Program loans between Oct. 1, 2021, and Sept. 30, 2022, and who defaulted between Oct. 1, 2021, and Sept. 30, 2024.
As expected, FY 2022 CDRs were significantly impacted by the pause on federal student loan payments that began March 13, 2020. During the pause, borrowers with student loans held by the U.S. Department of Education (ED)were not required to make any payments, and no borrowers with ED-held loans entered default.
Some schools have a small number of student loan borrowers entering repayment. At other schools, only a small portion of the student body takes out student loans. In such cases, the CDR should be interpreted with caution.
If you have questions about the briefing, email fsa.schools.default.management@ed.gov.
The U.S. Department of Education strives to make all content accessible to everyone. While this document does not currently meet the standards of Section 508 of the Rehabilitation Act of 1973, as amended, Federal Student Aid is working to create an accessible version. If you need access to this document before the accessible version is available, please contact the Information Technology Accessibility Program Help Desk at ITAPSupport@ed.gov to help facilitate.
Briefing on FY 2022 Official National Default Rates in PDF Format