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Press Release

Department of Education to Distribute Official Cohort Default Rates

Wichita, KS -- (ReleaseWire) -- 09/17/2014 -- On Monday, September 22, 2014, the United States Department of Education (USDE) plans to release the FY 2011 3-Year Official Cohort Default Rate (CDR) notification packages to all schools, both domestic and foreign, guaranty agencies and lenders.

All schools who are enrolled in the Electronic Cohort Default Rate (eCDR) process will receive their FY 2011 3-Year CDR and accompanying documentation via their Student Aid Internet Gateway (SAIG) mailbox. The official CDR is located on the first page of each school’s official notification letter and the last page of the Loan Record Detail Report (LRDR).

This will be the first year in which a school’s rates are based entirely on their 3-year CDR. This is also the first year a school may be subject to eligibility sanctions based on their 3-year rate. Once the official rates are released, adjustments and/or appeals must be submitted within timeframes that will be specified at that time.

Any school not enrolled in the eCDR process will need to download their CDR and accompanying documentation from the National Student Loan Data System (NSLDS) via the NSLDS Professional Access Website.

Opening the extract-type LRDR in spreadsheet or other database software may expedite and simplify participation in any or all of the challenge, adjustment and appeal processes, along with any default prevention activities.

It’s important that each school reviews the LRDR carefully to ensure that the loan data used to calculate the rates is accurate. Chapters 2 & 3 of the CDR guide provide detailed information on reviewing the LRDR.

After the release of the FY 2011 3-Year rates, the Department will publicly post the FY 2011 3-Year CDR to the Default Management Website and the Federal Student Aid (FSA) data center.

If you have questions about the FY 2011 3-Year CDR, contact the FSA by e-mailing or calling the Operations Performance Division Hotline at (202) 377-4259.

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