### Question
How is the term cohort default rate defined?


### Answer
The term **cohort default rate** is defined in *20 U.S.C. § 1087bb* as the following:

> the percentage of such current and former students who entered repayment on such loans in any of the three most recent award years and who default before the end of the award year immediately following the year in which they entered repayment

#### Citation:
  - *20 U.S.C. § 1087bb*
  - Heading: **CHAPTER 27-NATIONAL VOCATIONAL STUDENT LOAN INSURANCE > SUBCHAPTER IV-STUDENT ASSISTANCE > Part D-Federal Perkins Loans**

