On September 22, 2014 the USDE released FY 2011 3-Year Official Cohort Default Rate (CDR) Notification packages. Your official CDR is found on the first page of the official notification letter and the last page of the Loan Record Detail Report (LRDR).
Keep in mind that this will be the first year in which a school’s rates are based entirely on their 3- year CDR. And; this is the first year in which a school may be subject to eligibility sanctions based on their three-year rate. A school with a high default rate may lose its eligibility to participate in Federal Student Aid programs.
If you find errors in the CDR data, your school may be eligible to file an uncorrected data adjustment, new data adjustment, and/or erroneous data appeal. You should already be in the process of reviewing the LRDR to verify the accuracy of the data used to calculate your official CDR as the time period for appealing your official rates began on September 30, 2014.
Each of the adjustments and the appeal process have very specific timeframes and instructions on how to submit. The Cohort Default Rate Guide is an excellent resource and provides detailed information to assist schools with the process of reviewing the LRDR and appeal procedures. Please refer to the guide at:http://ifap.ed.gov/DefaultManagement/CDRGuideMaster.html
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