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Summary: FY 01 Draft Cohort Default Rates Distributed 2/18/03

Publication Date: February 18, 2003

Author: General Manager: FSA Schools Channel

Summary: FY 01 Draft Cohort Default Rates Distributed 2/18/03


Posted on 02-19-2003

On the morning of Tuesday, 02/18/03, the Department distributed the fiscal year 2001 draft cohort default rate notification packages. For domestic schools that enrolled in the Electronic Cohort Default Rate (eCDR) process, delivery was made to the Student Aid Internet Gateway (SAIG) destination point designated by the school. Each eCDR package contained (1) a cover letter (message class SHDRLROP), (2) a reader-friendly loan record detail report (message class SHCDRROP), and (3) an extract-type loan record detail report (message class SHCDREOP).

Important deadline information for eCDR participants: Time periods for challenging the FY 01 draft cohort default rates under 34 C.F.R Part 668, Subpart M begin on Wednesday, 2/26/03. If a school believes that a technical problem that was caused by the Department resulted in the school not being able to access the eCDR package, the school must notify the Department no later than 5:00PM Eastern Standard Time on Tuesday, 2/25/03. Reports of technical difficulties caused by the Department must be made via e-mail and addressed to fsa.schools.default.management@ed.gov. The Department will confirm any timely and valid reports of technical difficulties, and then re-send the reports via either electronically or via overnight courier service. The school cohort default rate challenge period for such affected schools will begin upon receipt by the school of the re-sent notification package. Otherwise, the default rate challenge period for all eCDR schools begins on Wednesday, 2/26/03.

For domestic schools that had not enrolled in the eCDR process as of early January, and for all foreign and U.S. Territory schools, the Department mailed a hard copy notification package on 2/18/03. The cohort default rate challenge period for schools that were mailed a hard copy notification package begins on the date that the package was received.

The Department strongly encourages schools not already signed up for eCDR to complete the enrollment form available at www.fsawebenroll.ed.gov . All domestic schools will be required to sign up for eCDR by June 1, 2003. All foreign and US Territory schools will continue to receive hard copy notification packages.

For additional information regarding the school cohort default rate calculation or the challenge, adjustment, or appeal processes, please refer to the Cohort Default Rate Guide available at http://www.ifap.ed.gov/drmaterials/finalcdrg.html . Default Management's main office can also be reached via email at fsa.schools.default.management@ed.gov or via phone at (202) 377-4259.