Charter Oak State College is pleased to provide the following information regarding our institution's cohort default rate for federal student loans. A cohort default rate is the percentage of a school's borrowers who enter repayment on certain federal student loans during a particular federal fiscal year (October 1 to September 30) and default or meet other specified conditions prior to the end of the second following fiscal year.
Every year the U.S. Department of Education calculates a default rate for post-secondary schools that participate in federal student aid programs. Charter Oak has a low default rate and we are proud to share it with current and future students.
Cohort Default Rate
| Fiscal Year | National Rate | Charter Oak State College |
|---|---|---|
| FY2019* | 2.3% | 1.2% |
| FY2018 | 7.3% | 3.4% |
| FY2017 | 10.1% | 4.1% |
| FY2016 | 10.1% | 7.5% |
Federal Direct Loan Borrowing
| Award Year | Loan Dollars | Student Borrowers (Unduplicated) |
|---|---|---|
| 2021-2022 | $5,033,739 | 734 |
Data from Federal Student Aid as of April 11, 2022.