Default rates measure the percentage of students who fail to repay their federal student loans. A lower default rate indicates that students are finding an adequate means of income after leaving the school because they can afford to pay back their student loans. In addition, lower default rates also indicate a lower amount of student debt. For each school, we looked at the most recent cohort default rates published by the Peterson’s for the 2013 fiscal year.
Peterson’s did not have the default rate for all of the colleges on our list. We did not, however, want to penalize those colleges without data. To that end, we simply excluded those schools from the rankings in this category.