On September 28, the U.S. Department of Education released the official three-year cohort default rates for institutions participating in federal student loan programs. Education Secretary Arne Duncan announced that the three-year national cohort default rate is 11.8 percent.New York Chiropractic College (NYCC) graduates posted an impressive 0.4 percent default rate, the lowest of all colleges and universities offering the doctor of chiropractic degree in the U.S., well below the 4.2 percent average for such schools. “We are proud of our graduates and of our financial aid staff who advise students in preparing them to meet their obligation,” said NYCC president, Dr. Frank J. Nicchi.On a related note, NYCC Director of Financial Aid, Mr. Darrin Rooker, was recently elected president of the New York State Financial Aid Administrators Association (NYSFAAA). In October, he will begin a one-year term as president-elect to be followed by a two-year term as president. NYSFAAA has over 1400 members representing 260 schools, colleges, and universities throughout New York.