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Summary: FY 2003 Draft Cohort Default Rates Distributed February 14, 2005

Publication Date: February 14, 2005

Author: General Manager, FSA Application, School Eligibility and Delivery Services

Summary: FY 2003 Draft Cohort Default Rates Distributed February 14, 2005

Posted on 02-14-2005

On the morning of Monday, February 14, 2005, the Department distributed the FY 2003 draft cohort default rate notification packages. For domestic schools 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).

Time periods for challenging the FY 2003 draft cohort default rates under 34 C.F.R Part 668, Subpart M begins on Wednesday, February 23, 2005 for domestic schools. For foreign schools that were mailed a hard copy notification package, the time period begins on the date that the package is received.
For additional information regarding the school cohort default rate calculation or the challenge processes, please refer to the Cohort Default Rate Guide 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.

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 were required to sign up for eCDR by June 1, 2003. Domestic schools not enrolled in eCDR will not receive notification packages from the Department but may download their cohort default rates and accompanying Loan Record Detail Reports at www.nsldsfap.ed.gov. All foreign schools will continue to receive hard copy notification packages.