Posted Date:September 8, 2009
Author: Susan Szabo, Chief Business Operations Officer, Federal Student Aid
Subject: FY 2007 Official Cohort Default Rates Release Scheduled for September 14, 2009
On September 14, 2009, we plan to release the FY 2007 Official Cohort Default Rates to all eligible schools. After we release the official rates, we will post an Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site.
All schools, both domestic and foreign, enrolled in the Electronic Cohort Default Rate (eCDR) process will receive their FY 2007 Official Cohort Default Rate and accompanying documentation electronically via their Student Aid Internet Gateway (SAIG) mailbox. Any school not enrolled in the eCDR process may download their cohort default rate and accompanying documentation from the National Student Loan Data System (NSLDS) via the NSLDS Professional Access Web site.
Any school that did not have a borrower in repayment, during the current cohort default rate period or any of the past cohort default rate periods, will not receive a FY 2007 Official Cohort Default Rate notification package. These schools are considered to have no cohort default rate data and no cohort default rate.
Important Note: Some schools have a small number of borrowers entering repayment. At other schools, only a small portion of the student body takes out student loans. In such cases, the cohort default rate should be interpreted with caution.
If you have questions about the FY 2007 Official Cohort Default Rates, contact us by e-mailing firstname.lastname@example.org or by calling the Portfolio Performance Division (formerly Default Prevention and Management) Hotline at 202/377-4259.