### Question
How does Federal Perkins Loans define cohort default rate?


### Answer
Under *20 U.S.C. § 1087bb*, **cohort default rate** is defined as:

> 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 28-HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE > SUBCHAPTER IV-STUDENT ASSISTANCE > Part D-Federal Perkins Loans**

