This report is a compilation of 1997 default rates for institutions participating in the Federal Perkins Loan Program based on the cohort of borrowers who entered repayment status in the 1995-96 reporting period. Data is presented by state and individual institution and includes: (1) number of borrowers who entered repayment status in 1995-96; (2) number of borrowers (from #1) in default on June 30, 1997; (3) cohort default rate; (4) total number of borrowers in default 240 days or more; and (5) total principal amount outstanding on loans in default 240 days or more. (BF)