Maintained for Historical Purposes

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

Federal Perkins Loan Program Default Status Report As of June 30, 1998

PublicationDate: 5/18/99
Summary: Federal Perkins Loan Program Default Status Report As of June 30, 1998
Author: AFMS - Accounting and Financial Management Service
Posted on May 18, 1999

To: All EdExpress Users
From: Michele L. Selvage, Director Institutional Financial Management Division
RE: Federal Perkins Loan Program Default Status Report As of June 30, 1998

Attached is the Federal Perkins Loan Program Default Status Report as of June 30, 1998. The data contained in this report was taken from information submitted on your institution’s 1997-1998 Fiscal Operations Report and Application to Participate (FISAP). This report, because of its size, has been broken into three separate files for easier use by our customers. The first file contains the states of Alabama through Iowa; the second file contains the states of Kansas through New Mexico; and the third file contains the states of New York through the Virgin Islands.

The listing includes cohort default rates for institutions participating in the Federal Perkins Loan Program as of June 30, 1998. National and state figures are also provided.

This listing includes the following data:

Column A, Number of Borrowers Who Entered Repayment Status in 1996-1997

Source: FISAP, Part III, Section D, Line 1.1 or 2.3

Column B, Borrowers from Column A in Default on June 30, 1998

Source: FISAP, Part III, Section D, Line 1.2 or 2.4

Column C, Cohort Default Rate

Source: Column B Divided by Column A

Column D, Total Number of Borrowers in Default 240 Days or More

Source: FISAP, Part III, Section C, sum of lines 5.2, 5.3, and 5.4
Column B

Column E, Total Principal Amount Outstanding on Loans in Default 240 Days or
More

Source: FISAP, Part III, Section C, sum of lines 5.2, 5.3, and 5.4
Column D


A “cohort” is computed using only the number of borrowers who entered
repayment status in the 1996-1997 reporting period, except for schools
that have a cohort of less than 30 borrowers. For those schools, the cohort is an
aggregate of the total number from three reporting years:1994-1995, 1995-1996,
and 1996-1997.

For questions concerning this notification contact:
Judy Norris, Team Leader for Perkins Loan Program
(202) 708-9757




(The attached file [def-al-io.pdf] contains the cohort default rates for institutions participating in the Federal Perkins Loan Program as of June 30, 1998, located in the following states: Alabama through Iowa.)

(The attached file [def-ka-nm.pdf] contains the cohort default rates for institutions participating in the Federal Perkins Loan Program as of June 30, 1998, located in the following states: Kansas through New Mexico.)

(The attached file [def-ny-vi.pdf] contains the cohort default rates for institutions participating in the Federal Perkins Loan Program as of June 30, 1998, located in the following states: New York through the Virgin Islands.)