> ## Documentation Index
> Fetch the complete documentation index at: https://docs.amlok.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Student lending benchmarks

> Evaluate student-loan repayment transitions, affordability and cohort outcomes.

Separate government student loans, private education loans and student lines of credit. Study period, grace period, repayment entry and repayment assistance are different contractual states.

## Financial-risk measures

| Measure | Definition and comparison rule |
| - | - |
| Repayment-entry performance | Arrears or default within a specified period after repayment begins, not after the original disbursement. |
| Payment burden | Contractually payable installments divided by supported current income; preserve approved assistance or payment deferrals. |
| Income transition | Stability of observed income after leaving study, with a defined observation window. |
| Default and recovery | Separate default event, principal exposure, subsequent recovery and cure. |
| Assistance participation | Report the program state separately from delinquency; an authorized reduction is not a missed contractual payment. |

## Public benchmark sources

The [2023-2024 Canada Student Financial Assistance annual report](https://www.canada.ca/content/dam/esdc-edsc/documents/programs/canada-student-loans-grants/reports/csfa-annual-2023-2024/5447-2023-24-CSFA-Program-Annual-Report-EN.pdf) reports an **8% three-year default rate for the 2021-2022 repayment-entry cohort**. This measure is loan-value weighted and uses default after more than 270 days of arrears. It is not the percentage of all student borrowers currently delinquent.

Use the [program's statistical review](https://www.canada.ca/en/employment-social-development/programs/canada-student-loans-grants/reports/student-financial-assistance-statistics-2023-2024.html) to retain the federal program's coverage. Do not transfer its default rate to private education lending or jurisdictions outside its participating scope.

## AMLOK evaluation

Test contract-state recognition, supported income, payment obligations and assistance treatment before evaluating risk. Hold out later repayment-entry cohorts and report the amount of mature follow-up. A borrower with less than three years of observed repayment cannot be silently labeled a three-year non-default.

For Signal, measure sustained income or payment changes and false-alert rates across repayment states. Evaluate missing employment or income data as missing evidence rather than inventing future earnings. Use the [consumer underwriting protocol](https://docs.amlok.io/research/consumer-underwriting.md) for fairness and consent boundaries.


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