Maintained for Historical Purposes

This resource is being maintained for historical purposes only and is not currently applicable.

(GEN-95-27) (GEN-95-27) FY 1993 Cohort Default Rate

DCLPublicationDate: 6/1/95
DCLID: GEN-95-27
AwardYear:
Summary: FY 1993 Cohort Default Rate


June 1995
GEN-95-27 (LD)

(Note: This is the Cover Letter for an enclosure. There
was limited distribution of this Dear Colleague Letter.)

Dear President:

In accordance with Section 435(m)(1)(A) of the Higher
Education Act of 1965, as amended (HEA), and 34 C.F.R.
668.17(h), schools are allowed an opportunity to review
cohort default rate data provided by guaranty agencies to
the U.S. Department of Education (Department) and
correct errors, if any, prior to the calculation of official
cohort default rates. Cohort default rates for FY 1993,
which will be released later this year, are the first default
rates to be subject to this procedure.

The enclosed FY 1993 cohort default rate data were
reported to the Department by the guaranty agency(ies) on
loans made to students for attendance at your school under
the Subsidized Federal Stafford, Unsubsidized Federal
Stafford, and Federal Supplemental Loans for Students
programs.

Please read the enclosed FY 1993 Cohort Default Rate
Data Pre-Publication Review Booklet for important
information about the deadlines and procedures for
challenging the enclosed cohort default rate data. The
booklet also includes directions on how to calculate your
school's FY 1993 draft cohort default rate.

If your school decides to challenge the cohort default rate
data, it has 30 calendar days from the receipt of the default
rate data to notify the appropriate guaranty agency(ies) of
any data that it believes to be incorrect. Your school must
submit its challenge to the guaranty agency(ies) that
submitted the data to the Department in accordance with
the procedures described in 34 C.F.R. 668.17(h) and the
enclosed booklet.

Please contact the guaranty agency(ies), or call the
Department's default management hotline number at
(202) 708-9396, if you have any questions about the
cohort default rate data pre-publication review process.

Sincerely,


M. Geneva Coombs
Default Management Section

Enclosures

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Last Modified: 05/31/1995