Posted Date:September 30, 2015
|Author:||Katrina Turner, Service Director, Operations Performance Management Services, Federal Student Aid|
Subject: FY 2012 3-Year Official Cohort Default Rates Distributed September 28, 2015
On September 28, 2015, the Department of Education (the Department) distributed the FY 2012 3-Year official cohort default rate (CDR) notification packages to all eligible domestic and foreign schools only. The rates will be publicly released on September 30, 2015. In this announcement, we provide information about our distribution of the official rates and the begin dates for appealing the official rates.
Distribution of FY 2012 Official Cohort Default Rates
For both eligible domestic and foreign schools enrolled in the Electronic Cohort Default Rate (eCDR) process, we sent FY 2012 3-Year Official Cohort Default Rate and accompanying documentation via the Student Aid Internet Gateway (SAIG). This information was sent to the SAIG mailbox for the destination point designated by the school. Each eCDR package contained the following information:
Cover Letter (message class SHDRLROP)
Reader-Friendly Loan Record Detail Report (message class SHCDRROP)
- Extract-Type Loan Record Detail Report (message class SHCDREOP)
We did not send eCDR notification packages to any school not enrolled in eCDR. These schools may download their cohort default rate and accompanying Loan Record Detail Reports from the National Student Loan Data System (NSLDS) via the NSLDS Professional Access Web site.
LRDR File review: Schools are reminded of the availability of the National Student Loan Data System (NSLDS) Loan Record Detail Report (LRDR) Import Tool. The LRDR Import Tool can be used to easily load data generated from the LRDR into the Microsoft Excel spreadsheet application; which is designed to assist schools with reviewing and analyzing their LRDR extract files.
To download the LRDR Import Tool, go to the Default Management Web site and choose "CDR Guide" from the left-hand navigation bar. The LRDR Import Tool can be found in the "Templates/Spreadsheets" section. If you have questions about using the LRDR Import Tool or NSLDS, contact the NSLDS Customer Support Center at 800/999-8219. You can also contact Customer Support by e-mail at email@example.com.
Note: Any school that did not have a borrower in repayment, during the current or any of the past cohort default rate periods, will not receive a FY 2012 3-Year official cohort default rate notification package. These schools are considered to have no cohort default rate data and no cohort default rate.
Guaranty agency rates were provided via e-mail. Lender rates were provided via postal service. Both guaranty agency and lender rates can also be obtained through the NSLDS.
Begin Dates for Appealing FY 2012 3-Year Official Cohort Default Rates
The time period for appealing the FY 2012 3-Year Official Cohort Default Rates under 34 C.F.R Part 668, Subpart N begins on Tuesday, October 6, 2015 for all schools.
All Uncorrected Data Adjustments (UDA) and New Data Adjustments (NDA) must be made through the eCDR Appeals application. Additionally, the Loan Servicing (LS) Appeal process is now available electronically through the eCDR Appeals application. All other adjustments/appeals will continue to be submitted via hard copy. As a reminder, eCDR Appeals is a web-based application that allows schools to electronically submit certain adjustments/appeals requests during the specified timeframes. The application allows data managers (guaranty agency or Federal Loan Servicer) and Federal Student Aid personnel to electronically view and respond to these adjustments/appeals. The application tracks the entire life cycle of each request from the time the case is submitted until the time a decision is made and the case is closed.
If a technical problem caused by the Department results in an inability to access the data, schools have five business days from the receipt of the eCDR notification package to notify Operations Performance Division at the e-mail address given below. As stated above, the time periods for challenging the FY 2012 3-Year Official Cohort Default Rates begin on Tuesday, October 6, 2015 for all schools.
In order to complete an adjustment or appeal, you may need data manager's contact information. Click on the link labeled, "Data Manager Information" from the home page of the Cohort Default Rate Guide at http://www.ifap.ed.gov/DefaultManagement/finalcdrg.html.
If the Department revises a school's cohort default rate based on its adjustment or appeal submission, the revised cohort default rate will be available on Operations Performance Division's Web site at http://www.ifap.ed.gov/DefaultManagement/DefaultManagement.html.
For specific information regarding eCDR Appeals, visit the eCDR Appeals Web site, where you will find user guides for each of the challenge and adjustment processes, as well as a user guide for the registration process. Additionally, you will find links to recordings of eCDR Appeals demonstration sessions to assist first-time users.
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/DefaultManagement/finalcdrg.html.
You may also contact us by e-mailing firstname.lastname@example.org or by calling the Operations Performance Division's hotline at 202/377-4259.