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GHEAC Mardi Gras: Parade of Service 2003 GHEAC Annual Conference March 4 - 5, 2003. Default Appeals Process Marcia Coleman, Default Prevention Coordinator. Cohort Default Rate (CDR) eCDR Cohort Default Rate Calculation Draft Cohort Default Rate Process

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gheac mardi gras parade of service 2003 gheac annual conference march 4 5 2003

GHEAC Mardi Gras:Parade of Service2003 GHEAC Annual ConferenceMarch 4 - 5, 2003

Default Appeals Process

Marcia Coleman, Default Prevention Coordinator

session outline
Cohort Default Rate (CDR)

eCDR

Cohort Default Rate Calculation

Draft Cohort Default Rate Process

Quick Steps for Appealing Your Default Rate

Default Analysis Software

Session Outline

2003 GHEAC Annual Conference

cohort default rate
A cohort default rate is the percentage of a school’s

borrowers who enter repayment on certain Federal Family

Education Loan (FFEL) Program and/or William D. Ford

Federal Direct Loan (Direct Loan) Program loans during a

particular Federal fiscal year (FY), October 1 – September

30, and default or meet other specified conditions prior to

the end of the next fiscal year.

Cohort Default Rate

2003 GHEAC Annual Conference

fiscal year fy
FY is October 1 – September 30

Ex. FY 2001

October 1, 2000 through September 30, 2001

Ex. FY 2002

October 1, 2001 through September 30, 2002

Fiscal Year (FY)

2003 GHEAC Annual Conference

slide5
Began February 2003

Schools must sign up for it at www.sfawebenroll.ed.gov

Customer Service

Easier to manipulate and sort data

Requirement – Paperwork Reduction Act

Save taxpayer’s money

Saves the environment

eCDR

2003 GHEAC Annual Conference

elrdr
Customer Service

Easier to manipulate and sort data

Requirement – Paperwork Reduction Act

Save taxpayer’s money

Saves the environment

eLRDR

2003 GHEAC Annual Conference

cohort default rate guide
Published August 2001

Draft & Official Guides combined

Designed to assist schools with FFELP and Direct Loan cohort

default rate data

Used as reference tool in understanding rates and processes

Will remain effective until further notice

Electronic version located at http://sfa4schools.sfa.ed.gov or http://www.ifap.ed.gov

Changes inserted into booklet as supplements

Cohort Default Rate Guide

2003 GHEAC Annual Conference

cohort default rate calculation
Calculated twice per year

2003 Calculation and Rate Release Schedule

Draft FY 2001 rates:

Calculate – January 11, 2003

Release – February 18, 2003

Official FY 2001 rates:

Calculate – August 2, 2003

Release – September 15, 2003

Cohort Default Rate Calculation

2003 GHEAC Annual Conference

cohort default rate calculation1
Non-Average Rate Calculation:

Number of Borrowers who entered repayment in the cohort fiscal year and defaulted or met other specified

conditions in the cohort default period.

Number of Borrowers who entered repayment in the cohort fiscal year

Average Rate Calculation:

Number of Borrowers who entered repayment in the cohort fiscal year and the two years

preceding cohort fiscal years and who defaulted or met other specified conditions in the cohort default period

Number of Borrowers who entered repayment in the cohort fiscal year and the two preceding

cohort fiscal years.

Cohort Default Rate Calculation

2003 GHEAC Annual Conference

types of cdr appeals
Incorrect Data Challenge

Who: Any school that received a draft cohort default rate

When: During the DRAFT release period

What: Enables a school to request a correction to what it believes to be inaccurate data contained in the LRDR or eLRDR

Participating Rate Index Challenge

Who: Any school that can demonstrate that the # of students who obtains loans is very low in relation to the # of regular students at the school

When: During DRAFT release period

What: School not subject to sanction when next official cohort default rate is published.

Types of CDR Appeals

2003 GHEAC Annual Conference

types of cdr appeals1
Uncorrected Data Adjustment

Who: Any school that submitted a timely challenge of its draft rate

When: During OFFICIAL release period only after data manager has agreed to make changes and the changes are not reflected on the official LRDR or eLRDR.

What: Schools cohort default rate will be recalculated using corrected data.

New Data Adjustment

Who: Any school that submitted a timely challenge of its draft rate

When: During OFFICIAL release period only after data manager has agreed to make changes and the changes are not reflected on the official LRDR or eLRDR.

What: Schools cohort default rate will be recalculated using corrected data.

Types of CDR Appeals

2003 GHEAC Annual Conference

types of cdr appeals2
Erroneous Data Appeal

Who: Any school whose official CDR includes new and/or disputed data, must be subject to rate sanctions, or other successful appeals will result in a recalculated CDR below sanction threshold.

When: During the OFFICIAL release period

What: Will result in the recalculation of CDR using corrected data.

Loan Servicing Appeal

Who: Any school receiving official CDR

When: During the OFFICIAL release period

What: Loan may be removed from CDR which may or may not lower CDR.

Types of CDR Appeals

2003 GHEAC Annual Conference

types of cdr appeals3
Other types of Appeals:

(During OFFICAL Rate Release Period)

Economically Disadvantage Appeal

Participation Rate Index Appeal

Average Rates Appeal

Thirty-or-Fewer Borrowers Appeal

Types of CDR Appeals

2003 GHEAC Annual Conference

quick steps for appealing your default rate
Gather your data

LRDR or eLRDR

NSLDS

Determine if you will appeal your CDR

Establish network of key players and responsibilities

Develop a school’s records spreadsheet (see example)

Use school’s internal data systems and NSLDS to compare data

Use monthly repayment reports to verify data

Quick Steps for Appealing Your Default Rate

2003 GHEAC Annual Conference

quick steps for appealing your default rate1
Compare Your Data

Change in enrollment status

Canceled loans

Student delinquency status

Student transfers

Cured loans

NSLDS reports

Old SSCR’s

Data Sharing

Correcting Data

Quick Steps for Appealing Your Default Rate

2003 GHEAC Annual Conference

default analysis software
See DisplayDefault Analysis Software

2003 GHEAC Annual Conference

cdr resources
Web

http://www.ed.gov/offices/OSFAP/defaultmanagement/cdr.html

Guide

http://ifap.ed.gov/drmaterials/FinalCDRG.html or

http://ifap.ed.gov.drmaterials/changelog.html

Default Management Contact info:

Email: [email protected]

Phone: 202.377.4258

Mail: 400 Maryland Avenue, SW, Washington, DC 20202-5353

Commercial: 830 First Street, NE, Washington, DC 20002-5353

CDR Resources

2003 GHEAC Annual Conference

cdr resources1
Regulations

34 CFR 668.181-668.198, App A & B to Subpart M of Part 668

Handbook

2001-2002 pages 2-56, 2-81. 2-82, 8-5, 8-6, 8-36

Partner Letters

http://ifap.ed.gov/dpcletters/gen0108.html and

http://198.77.160/eannouncements/0119stuhbkbestprectice.html

CDR Resources

2003 GHEAC Annual Conference

other resources
Georgia Higher Education Assistance Corporation

U.S. Department of Education

Schools Portal and IFAP

Default Collections

Partner Services and Portal

Students Portal

NSLDS

Case Management

Other Resources

2003 GHEAC Annual Conference

contact
Contact GHEAC’s Default Prevention Area

Contact: Marcia Coleman, Coordinator

Phone: 770.724.9174

Address: 2082 East Exchange Place, Suite 220

Tucker, GA 30084

Email: [email protected]

Web: www.gsfc.org

CONTACT

2003 GHEAC Annual Conference

q a s
THANK YOU FOR ATTENDINGQ & A’s

2003 GHEAC Annual Conference

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