Posted Date:September 8, 2016
| Author: | Katrina Turner, Service Director, Operations Performance Management Services, Federal Student Aid |
Subject: FY 2013 Official 3-Year Cohort Default Rates Distributed September 26, 2016
On Monday, September 26, 2016, we plan to release Cohort Default Rates to all schools, both domestic and foreign, guaranty agencies, and lenders only. All schools who are enrolled in the Electronic Cohort Default Rate (eCDR) process will receive their FY 2013 3-Year Official Cohort Default Rate and accompanying documentation via their Student Aid Internet Gateway (SAIG) mailbox. The official cohort default rate is found on the first page of a school’s official notification letter and the last page of the Loan Record Detail Report (LRDR).
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. We encourage any school not already signed up for the eCDR process to do so by completing the enrollment form on the SAIG Enrollment Web site. If a school does not enroll in the eCDR process; they will not receive an official notice of its cohort default rates.
After the release of the 2013 3-Year Official rates on September 26th, the Department of Education (the Department) will publicly post the 2013 Official Cohort Default Rates to the Default Management Web site and the FSA Data Center on Wednesday, September 28, 2016. In addition, we will post an Electronic Announcement about the rates on the Information for Financial Aid Professionals (IFAP) Web site.
Any school that did not have a borrower in repayment, during the current cohort default rate period will not receive an Official Cohort Default Rate notification package. These schools are considered to have no cohort default rate data and no 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.
Contact Information
If you have questions about the FY 2013 Official Cohort Default Rates, contact us by e-mailing fsa.schools.default.management@ed.gov or by calling the Operations Performance Division Hotline at (202) 377-4259.