This report analyzes data from the U.S. Department of Education on the outcomes of New York's federal student loan borrowers who entered repayment in 2012, covering the period from 2012 to 2016. This data brief--the first comprehensive analysis of five-year student loan outcomes in New York--reveals that the student loan default rate in New York is higher than many previously believed. The analysis shows student loan default rates in New York nearly double between the third and fifth year--from 6.5 percent to 11 percent. Findings reveal that the state's for-profit higher education institutions are responsible for a disproportionate share of all student loan defaults after five years, with students attending for-profit schools defaulting at more than double the rate of public colleges. The data underscores the need to tackle the student debt crisis in New York and suggests that state policymakers should take steps to hold the most default-prone institutions accountable.