September 9, 2010

Cohort Default Rates Release

On Sept. 13, 2010, the Department of Education (ED) will release the FY 2008 Official Cohort Default Rates to all eligible schools. Once the rates are released, ED will post an electronic announcement on the Information for Financial Aid Professionals (IFAP) website.

Schools, both foreign and domestic, enrolled in the Electronic Cohort Default Rate (eCDR) process will receive their rate and documentation electronically via their Student Aid Internet Gateway (SAIG) mailbox. Any school not enrolled in the eCDR process may download the cohort default rate and documentation from the National Student Loan Data Service (NSLDS) Professional Access website.

Do you recognize trends within your own cohort default rate, and how those trends may translate to your borrowers? Through our cohort analysis service, OGSLP uses the individual cohort data schools receive to help them identify characteristics of cohort rate borrowers, including general default trends and types of borrowers who are more likely to default. This analysis can offer you an early-warning system to help you prioritize campus default aversion activities and target programs to borrowers who are most at risk of default.

OGSLP’s Default Prevention team is trained and ready to help schools reach their default prevention goals. If you have questions or if you’d like to request a cohort analysis, contact Wayne Sparks, Default Prevention Manager, at 405.234.4358, 800.358.5460 (toll-free) or wsparks@ogslp.org.