Posted Date:January 29, 2009
Author: Sybil Phillips, Service Director, Portfolio Performance Management, Federal Student Aid
Subject: FY 2007 Draft Cohort Default Rates Release Scheduled for February 9, 2009
On February 9, 2009, we plan to release the FY 2007 Draft Cohort Default Rates to all eligible schools. After we release the draft rates, we will post an Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site.
We will release the FY 2007 Draft Cohort Default Rates to domestic and foreign schools as follows:
Domestic Schools – We will send each domestic school’s FY 2007 Draft Cohort Default Rate and accompanying documentation to the school’s Student Aid Internet Gateway (SAIG) mailbox.
Foreign Schools – We will mail each foreign school a notification package via the U.S. Postal Service. If a foreign school has one or more borrowers in repayment, the package will include a Loan Record Detail Report (LRDR) as an encrypted Portable Document Format (PDF) file on a CD-ROM, we will mail a separate letter providing the password needed to decrypt the LRDR.
Note: Foreign schools are currently able to sign up to receive future cohort default rate notification packages electronically via the SAIG (just as domestic schools receive their data). With this functionality now available to foreign schools, we plan to provide cohort default rate information to all foreign schools electronically beginning with notification of the FY 2007 Official Cohort Default Rates in September 2009. For information on SAIG access, foreign schools can contact the Foreign School Team at 202/377-3168.
Contact Information
If you have questions about the FY 2007 Draft Cohort Default Rates, contact us by e-mailing fsa.schools.default.management@ed.gov or by calling the Portfolio Performance Division (formerly Default Prevention and Management) Hotline at 202/377-4259.