(LOANS-24-08) FY 2021 Official Cohort Default Rates Distributed Sept. 23, 2024 (Updated Oct. 4, 2024)

Author
Federal Student Aid
Electronic Announcement ID
LOANS-24-08
Subject
FY 2021 Official Cohort Default Rates Distributed Sept. 23, 2024 (Updated Oct. 4, 2024)

Note

Update on Oct. 4, 2024: We have identified an issue that caused some schools to receive multiple cover letters as part of their FY 2021 official cohort default rate notification package. On Sept. 23, 2024, schools received a cover letter (SAIG message class SHDRLROP) with their rate correctly populated as well as a cover letter with a blank rate. The letters without rates were produced in error and should be ignored. Please refer to the most recently generated cover letter in your school’s SAIG mailbox or to the letter generated on the School CDR tab of the NSLDS Professional Access website. We apologize for the confusion caused by this issue. Note: Some schools received multiple Loan Record Detail Reports because the school has less than 30 borrowers entering repayment within the FY 2021 Cohort Fiscal Year. This functionality is working as expected. We include the two previous years (FY 2020, FY 2019) due to a low number of borrowers entering repayment.

On Monday, Sept. 23, 2024, the U.S. Department of Education (Department) distributed the FY 2021 official cohort default rate (CDR) notification packages to all eligible domestic and foreign schools only. The rates will be publicly released on Wednesday, Sept. 25, 2024.

In this announcement, we provide information about our distribution of the official rates and the begin dates and other reminders about the cohort default rate appeal process.

Distribution of FY 2021 Official Cohort Default Rates

For both eligible domestic and foreign schools enrolled in the Electronic Cohort Default Rate (eCDR) process, we sent the FY 2021 official cohort default rate and accompanying documentation via the Student Aid Internet Gateway (SAIG). This information was sent to the SAIG mailbox to the destination point administrator designated by the school. Each eCDR package contained the following information:

  • Cover Letter (message class SHDRLROP)

  • Extract-Type Loan Record Detail Report (message class SHCDREOP)

Notes:

  1. A Comma Delimited-Type Loan Record Detail Report (formerly sent via message class CDRCSVOP) is available via the NSLDS Professional Access website as the SHCDR NSLDS School CDR History Report – SAIG. Go to the “Reports” area to download the report in Excel or to have it sent to an SAIG mailbox.

  2. Like last year, the Reader-Friendly Loan Record Detail Report (message class SHCDRROP) is available in a PDF via the NSLDS Professional Access website. This report can also be downloaded from the Reports area as the SHCDR NSLDS School CDR History Report – PDF Download.

Schools not enrolled in eCDR will not receive an eCDR notification package. 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 website.

LRDR File review: Schools are reminded of the availability of the 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 - Templates and Spreadsheets Topics page on the Knowledge Center. If you have questions about using the LRDR Import Tool or NSLDS, contact the NSLDS Customer Support Center at 1-800-999-8219. You can also contact Customer Support by email at nslds@ed.gov.

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 an FY 2021 official CDR notification package. These schools are considered to have no cohort default rate data and no cohort default rate.

We continue to send guaranty agency and lender rates via email. Both guaranty agency and lender rates can also be obtained through the NSLDS website.

Begin Dates for Appealing FY 2021 Official Cohort Default Rates

The period for appealing the FY 2021 official CDR under 34 C.F.R Part 668, Subpart N begins on Friday, Oct. 4, 2024, for all schools.

Reminders About the Cohort Default Rate Appeal Process

Schools must use the electronic Cohort Default Rate Appeals (eCDR Appeals) System for the following appeals and adjustments.

  • Loan Servicing Appeal

  • Uncorrected Data Adjustment

  • New Data Adjustment

Previously, some appeal types could be mailed to us in paper format, but we have moved to email submissions since 2020. Schools must submit the following appeals electronically via a password-secured email (not the eCDR Appeals System) to the Cohort Default Rate Group; paper submissions will not be accepted.

  • Economically Disadvantaged Appeal

  • Participation Rate Index Appeal

  • Erroneous Data Appeal

Send these appeals to FSA.Schools.Default.Management@ed.gov with a copy (Cc:) to mary.mcgeorge@ed.gov. The subject line of the email should be labeled: FY 2021 Official [Insert appeal type], OPEID.

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 Partner Eligibility and Oversight Services (PEOS) at the email address below. As stated above, the period for challenging the FY 2021 official CDR begins on Friday, Oct. 4, 2024, for all schools.

To complete an adjustment or appeal, you may need the data manager’s contact information. Click on the “Alphabetical and Numerical Data Manager Contacts” link from the home page of the Default Management Topics page on the Knowledge Center.

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 the Default Management Topics page.

For specific information regarding eCDR Appeals, visit the eCDR Appeals website 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.

Contact Information

For additional information regarding the school cohort default rate calculation or the challenge processes, refer to the CDRG.

You may also contact us by email at fsa.schools.default.management@ed.gov or by phone at 202-377-4259.

Last Modified: 10/04/2024