Financial Aid Default Rates
The default rates of the Academy’s recipients of financial aid loans have historically been some of the lowest in higher education. Default rates are reported annually by the U.S. Department of Education.
The historical default rates over the last ten years are as follows:
| Fiscal Year | Default Rate |
|---|---|
| 1998 | 0.0% |
| 1999 | 0.0% |
| 2000 | 0.0% |
| 2001 | 0.0% |
| 2002 | 0.4% |
| 2003 | 0.0% |
| 2004 | 1.3% |
| 2005 | 0.9% |
| 2006 | 0.8% |
| 2007 | 3.5% |
| 2008 | 3.1% |
