For Immediate Release
October 10, 2017
Contact: Tori Berube
VP, College Planning & Community Engagement
(603) 227-6612, ext. 117
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Concord, N.H. — The U.S. Department of Education recently released the Fiscal Year 2014 Cohort Default Rate (CDR) for student loan lenders, loan holders and guaranty agencies participating in the Federal Family Education Loan Program (FFEL). Guaranty agency New Hampshire Higher Education Assistance Foundation (NHHEAF) led the nation’s 25 other guaranty agencies with a 3-year CDR of 4.1%.
Each year, the U.S. Department of Education publishes cohort default rates based on the percentage of a guaranty agency’s student borrowers who enter repayment on FFEL program loans during a federal fiscal year (October 1–September 30) and default before the end of the next two fiscal years. For Fiscal Year 2014, the 3-Year National Average Cohort Default Rate is 11.5%.
“Our loan counseling team works diligently with these borrowers, providing helpful and specific information on the various options available to them as they begin the repayment of their federal student loans,” states Sara Tremaine, Vice President of Loan Servicing.
In addition to personalized support during repayment, NHHEAF’s provides speakers and educational material aimed at providing local high school and college students the tools they need to make informed financial decisions. To learn more, visit the Signature Events & Initiatives section of nhheaf.org.