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A student cohort default rate is the percentage of an institution'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 1 to September 30, and default or meet other specified conditions prior to the end of the next fiscal year.
This calculation identifies the percentage of federal student loan recipients who default on their loans within the first two years. A default occurs when the borrower does not make a payment for 270 days - since the cohort default rate is measured after two years the most recent cohort includes students who entered repayment during the federal fiscal year 2011.
In response to increasing student default rates among the growing population of adult students who must balance professional and family responsibilities while advancing their educations, UMA has implemented several student default reduction and prevention initiatives that include but are not limited to -
- Cost Containment: UMA has frozen tuition at 2012 rates over the last few years.
- Financial Aid Practices: Comprehensive review of all financial aid awarding procedures with several pending new strategies.
- Financial Education: Partnership with FAME and ASA to bring SALT, a multi-channel educational program to help students to become more financially savvy.
- U.S. institutions
- Institution Type is Bachelor's Degree
- Public Control
- Participation in both programs (i.e. FFEL, Direct Loan = B)
- Dual Rate Program (i.e. DU)
- Excluded Historically Black Colleges and Universities and Tribally Controlled Schools