ABSTRACT name and address; default rate, percent of ...

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ED 413 851

HE 030 763

TITLE

INSTITUTION PUB DATE NOTE PUB TYPE EDRS PRICE DESCRIPTORS

IDENTIFIERS

FY 1995 Cohort Default Rates for Originating Lenders/Holders. Office of Postsecondary Education (ED), Washington, DC. 1997-10-22 238p. Numerical/Quantitative Data (110) MF01/PC10 Plus Postage. Compliance (Legal); Educational Finance; *Eligibility; Federal Aid; Federal Programs; Higher Education; Legal Responsibility; *Loan Default; Loan Repayment; Postsecondary Education; Program Evaluation; Student Financial Aid; Student Loan Programs National Student Loan Data System; Stafford Student Loan Program; Supplemental Loans for Students Program

ABSTRACT This report provides data on fiscal year 1995 cohort default

rates for lending institutions and loan holders with 30 or more borrowers in repayment, calculated from data reported to the National Student Loan Data System by guaranty agencies. Types of loans covered include subsidized Federal Stafford, unsubsidized Federal Stafford, Federal Supplemental Loans for Students (SLS), and Federal consolidation loans used to repay Stafford or SLS loans. Default rates are calculated for originating lenders and for current holders, by state, and in descending order of default rate. Also included is Office of Postsecondary Education identification number; lender name and address; default rate, percent of borrowers in default, and number of borrowers in repayment. (JLS)

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Reproductions supplied by EDRS are the best that can be made

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from the original document.

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FY 1995 COHORT DEFAULT RATES FOR ORIGINATING

LENDERS/HOLDERS

/-7

14'

STATES OV?I*V

N

Office of Postsecondary Education

Guarantor and Lender Oversight Service

Default Coordination Team

(202) 401-7482

U.S. DEPARTMENT OF EDUCATION Office of Educational Research and Improvement EDUCATIONAL RESOURCES INFORMATION

CENTER (ERIC) Illefhis document has been reproduced as

received from the person or organization originating it.

Minor changes have been made to improve reproduction quality.

BEST COPY AVAIIABILE

2

Points of view or opinions stated in this document do not necessarily represent

official OERI position or policy.

DRQRS.25 FY 1995 REPORT DATE - 10/22/97

ID

Name

Office of Postsecondary Education

PAGE

1

FY 1995 Cohort Default Rate for Originating Lenders/Holders

For Lenders/Holders with 30 or More Borrowers in Repayment

ORIGINATING LENDERS

/

CURRENT HOLDERS

Default # of Borrowers # of Borrowers

Default # of Borrowers # of Borrowers

Rate

In Default In Repayment

Rate

In Default In Repayment

832835 812737

KEY BANK OF ALASKA PO BOX 100420 ANCHORAGE AK 995100420 ALASKA USA FEDERAL CREDIT UNION PO BOX 196613 ANCHORAGE AK 995196613

13.5% .0%

13

96

0

72

.0%

0

20

DRQRS.25 FY 1995 REPORT DATE - 10/22/97

ID

Name

Office of Postsecondary Education

PAGE

2

FY 1995 Cohort Default Rate for Originating Lenders/Holders

For Lenders/Holders with 30 or More Borrowers in Repayment

ORIGINATING LENDERS

/

CURRENT HOLDERS

Default # of Borrowers # of Borrowers

Default # of Borrowers # of Borrowers

Rate

In Default In Repayment

Rate

In Default

In Repayment

800029 832310 831230 819548 831081 800018 800062 831479 800023 829048 815622 823129 800061 800097 800127 819928

SOUTHTRUST BANK OF ALABAMA, N.A. PO BOX 2554 BIRMINGHAM AL 352900000 FORT MCCLELLAN CREDIT UNION P 0 BOX 5250 FORT MCCLELLAN AL 362050000 SOUTHTRUST BANK /LSC /V (GSL) 307 NORTH GAY STREET AUBURN AL 368300000 UNIVERSITY CREDIT UNION 1400 SOUTH 20TH STREET BIRMINGHAM AL 352050000 ALTUS BANK, A FEDERAL SAVINGS BANK PO BOX 160924 MOBILE AL 366160000 SOUTHTRUST BANK OF ALABAMA, N.A. P.O. BOX 2554, STUDENT LOAN DEPT. BIRMINGHAM AL 352902554 THE FIRST NATIONAL BANK OF GREENVIL P 0 BOX 508 GREENVILLE AL 360370000 ALTUS BANK, A FEDERAL SAVINGS BANK PO BOX 160924 MOBILE AL 366160000 SOUTHTRUST BANK OF ALABAMA, N.A. PO BOX 2554 BIRMINGHAM AL 352900000 SOUTHTRUST BANK PO BOX 3867 AUBURN AL 368313867 COLONIAL BANK ONE COMMERCE ST., SHANNON O'DONNELL MONTGOMERY AL 361040000 LISTERHILL EMPLOYEES CREDIT UNION PO BOX 566 SHEFFIELD AL 356600000 SUNTRUST BANK, ALABAMA N.A. 201 S. COURT ST, PO BOX 758 FLORENCE AL 356300000 REGIONS BANK PO BOX 2527 MOBILE AL 366220000 SOUTHTRUST BANK OF DOTHAN, NA PO BOX 809 DOTHAN AL 363020000 AMSOUTH BANK, NA PO BOX 11785 BIRMINGHAM AL 352021785

31.2% 17.1% 15.2% 12.4% 12.2% 11.9% 11.3% 10.0%

8.5% 7.9% 7.8% 7.8% 7.6% 6.9% 6.4% 5.9%

41

131

.0%

6

35

17.1%

9

59

.0%

23

185

19

155

.0%

33

276

10.6%

5

44

11.6%

3

30

207

2,415

9.7%

41

513

35

448

8.0%

6

76

7.8%

7

91

8.0%

303

4,362

6.8%

8

125

263

4,416

6.6%

0

6

6

35

0

1

0

3

5

47

5

43

88

I 903

16

200

6

76

7

87

307

4,510

102

1,526

DRQRS.25 FY 1995 REPORT DATE - 10/22/97

ID

Name

Office of Postsecondary Education

PAGE

3

FY 1995 Cohort Default Rate for Originating Lenders/Holders

For Lenders/Holders with 30 or More Borrowers in Repayment

ORIGINATING LENDERS

\

/

CURRENT HOLDERS

Default # of Borrowers # of Borrowers

Default # of Borrowers # of Borrowers

Rate

In Default

In Repayment

Rate

In Default In Repayment

830290 820411 814556 822059 800134 815749 800016 800067 829189

AUBURNBANK 100 NORTH GAY ST PO DRAWER 3110 AUBURN AL 368313110 BANK INDEPENDENT 710 S MONTGOMERY AVE PO DRAWER B SHEFFIELD AL 356600000 AMERICA'S FIRST CREDIT UNION PO BOX 11349 BIRMINGHAM AL 352020000 COLONIAL BANK OF ALABAMA, NA 1928 FIRST AVENUE NORTH BIRMINGHAM AL 352030000 UNION BANK & TRUST CO. PO BOX 2191 MONTGOMERY AL 361975401 MAX FEDERAL CREDIT UNION P 0 BOX 244040 MONTGOMERY AL 361244040 FIRST EDUCATORS CREDIT UNION 3613 6TH AVENUE SOUTH BIRMINGHAM AL 352220000 THE FIRST NATIONAL BANK IN SYLACAUG P 0 BOX 630 SYLACAUGA AL 351500000 AL HIGHER ED LOAN CORPORATION %SOUTHTRUST BK AL 100 OFFICE PK DR BIRMINGHAM AL 352230000

5.3% 5.2% 4.5% 4.5% 4.1% 3.3% 3.0% 2.8%

29

540

.0%

2

38

5.2%

6

131

4.6%

6

131

.0%

4

97

.0%

5

149

.0%

1

33

3.0%

1

35

.0%

8.8%

0 2 6 0 0 0 1 0

244

3

38 129

1 3

65 33

4

2,768

6

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