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Latest from FSA: FY2013 Draft CDR Challenge Period Ends on Friday, April 22

April 18, 2016

FSA recently provided the following reminder regarding FY 2013 3-Year Draft Cohort Default Rates.

On March 1, 2016, FSA re-distributed the FY 2013 3-Year Draft Cohort Default Rate (CDR) notification packages to all eligible schools.

This year, schools will be subject to loss of eligibility based on a school’s 3-year rates.  Schools are subject to loss of eligibility if they have a CDR greater than 30% for three years or if they have a 2013 3-Year CDR greater than 40% for one year.

This is just a reminder that the challenges must be submitted within 45 calendar days of the timeframe begin date (which is the sixth business day after the release of the draft rates). The window to challenge FY 2013 3-Year Draft Cohort Default Rates under 34 C.F.R. Part 668, Subpart N, for all schools closes on Friday, April 22, 2016 at the close of business.

 All Incorrect Data Challenges (IDC) must be made through the eCDR Appeals website.  Participation Rate Index Challenges (PRI) will continue to be submitted via hard copy. As a reminder, eCDR Appeals is a web-based application that allows schools to electronically submit certain challenge and adjustment requests during the specified timeframes. The application also allows data managers (guaranty agency or Federal Loan Servicer) and Federal Student Aid personnel to electronically view and respond to these challenge/adjustment requests. 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.

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.

For additional information regarding the school cohort default rate calculation or the challenge processes, please refer to the Cohort Default Rate Guide at http://www.ifap.ed.gov/DefaultManagement/finalcdrg.html.

You may also contact FSA by emailing fsa.schools.default.management@ed.gov or by calling the Operations Performance Division’s hotline at 202-377-4259.

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