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 [[The enclosure "FY 1993 Cohort Default Rate" is currently unavailable for viewing. Please reference your paper document for additional information.]] |