Posted Date:May 01, 2009
Subject: Federal Perkins Loan Program Status of Default as of June 30, 2008 (Orange Book)
The Federal Perkins Loan Program Status of Default as of June 30, 2008, known as the Orange Book, is a report that lists each school that participated in the Federal Perkins Loan (Perkins Loan) Program during the 2007-2008 Award Year and provides a cohort default rate for each school. This report is based on data submitted by schools in the Fiscal Operations Report for 2007-2008 and Application to Participate for 2009-2010 (FISAP).
The attached report is organized alphabetically by state or territory. Schools are listed alphabetically under the state or territory in which they are located. The following information is provided for each school:
Column A, Number of Borrowers Who Entered Repayment Status in 2006-2007
(Source: FISAP, Part III, Section D, field 1.1 or Section E, field 2.3)
Column B, Borrowers from Column A in Default on June 30, 2008
(Source: FISAP, Part III, Section D, field 1.2 or Section E, field 2.4)
Column C, Cohort Default Rate
(Source: Column B divided by Column A)
Column D, Total Number of Borrowers in Default 240 Days or More
(Source: FISAP, Part III, Section C, sum of fields 5.2, 5.3, and 5.4, column b)
Column E, Total Principal Outstanding on Loans in Default 240 Days or More
(Source: FISAP, Part III, Section C, sum of fields 5.2, 5.3, and 5.4, column d)
1) For schools that had less than 30 borrowers enter repayment during the 2006-2007 Award Year, Columns A and B reflect the aggregate number of borrowers for the three most recent award years (2004-2005, 2005-2006, 2006-2007). These numbers are used to calculate the cohort default rate reported in Column C.
2) Columns D and E include borrowers and amounts in default 270 days or more for loans repayable in quarterly installments.
3) State and territory summary information is provided at the end of the listing for each state and territory. National summary information is provided at the end of the report.
If you have questions about the Orange Book, contact the Campus-Based Call Center at 877/801-7168. Customer service representatives are available Monday through Friday from 8:00 A.M. until 8:00 P.M. (ET). You may also e-mail CBFOB@ed.gov.