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UCB Studentsí FY 2011 3-Year Official Cohort Default Rate Notification Letter


                     UNITED STATES DEPARTMENT OF EDUCATION                      
                            WASHINGTON, D.C. 20202                              
                                 February 2014                                  
                                                                                
                                                                                
UNIVERSITY OF COLORADO BOULDER      OPE ID:                          001370     
REGENT ADMINSTRATIVE CENTER 175     FY 2011 Draft 3 Year Cohort         4.7     
BOULDER, CO 80309-0077                       Default Rate:                      
                                                                                
                                                                                
                                                                                
                                                                                
SUBJECT:  FISCAL YEAR 2011 DRAFT 3 YEAR COHORT DEFAULT RATE                     
                                                                                
Dear President:                                                                 
                                                                                
I am writing to provide you with your school's fiscal year (FY) 2011 draft      
three-year cohort default rate (CDR) data.  For schools that have one or more   
borrowers that entered into repayment during the FY 2011 period, the            
accompanying loan record detail report (LRDR) includes information on the loans 
made to students for attendance at your school under the Federal Family         
Education Loan (FFEL) Program and/or William D.  Ford Federal Direct Loan       
(Direct Loan) Program.  The U.S. Department of Education's (Department) records 
indicate that all of the loans included in the report entered into repayment    
during the FY 2011 period that includes October 1, 2010 through September 30,   
2011.  If you have questions about accessing or printing your file, please      
contact the Operations Performance Division at (202) 377-4259 or via email at:  
fsa.schools.default.management@ed.gov.                                          
                                                                                
The DPM website                                                                 
(http://www.ifap.ed.gov/DefaultManagement/DefaultManagement.html) contains the  
link to the Cohort Default Rate Guide.  This Guide is a primary reference source
for schools to understand the cohort default rates and processes. You may       
download the Guide in its entirety or by specific chapters as needed.  The      
National Student Loan Data System (NSLDS) has been modified to calculate the CDR
using a three-year default monitoring period.  To assist schools in verifying   
the accuracy of the LRDR, updates have been made to the report's header, detail 
and trailer records.  The updated extract file layout for the DRC035 report is  
available on the NSLDS Record Layouts page of the Information for Financial Aid 
Professionals (IFAP) Website at http://www.ifap.ed.gov.  Please note that the   
LRDR will only contain borrowers who entered into repayment during the FY 2011  
cohort.                                                                         
                                                                                
Operations Performance Division staff offer the eCDR Appeals system, a web-based
solution to automate the submission of certain CDR challenges and adjustments   
requests.  Schools must submit their Incorrect Data Challenge, Loan Servicing,  
Uncorrected Data Adjustment and New Data Adjustment requests via eCDR Appeals.  
The application allows schools to electronically submit these challenges and    
adjustments requests during the cohort default rate cycle, and allows data      
managers and Federal Student Aid (FSA) to electronically view and respond to    
these challenges and adjustments requests.  The application tracks the entire   
life cycle of each challenge/adjustment request from the time it is submitted   
until the time a decision is made and it is finalized. This process replaces the
paper process of challenging and appealing CDRs for all Title IV schools,       
foreign and domestic.                                                           
                                                                                
It is important that schools implement data corrections prior to the calculation
of FY 2011 three-year official cohort default rates scheduled for later this    
year.  Chapter 4.1 of the Cohort Default Rate Guide explains the Incorrect Data 
Challenge process timeline that a school should use to identify and correct any 
inaccuracies reflected in the enclosed LRDR.                                    
                                                                                
Your school has 45 calendar days to challenge the accuracy of the FY 2011 draft 
three-year LRDR.  If your school does not submit the challenge(s) within the    
required timeframes, your school will forfeit its right to submit such          
challenge(s).   School's timeframe to submit challenges begins with the sixth   
business day following the announced transmission date for eCDR packages posted 
to http://www.ifap.ed.gov.                                                      
                                                                                
In addition to implementing data corrections, your school may also wish to      
utilize the Department's default prevention support for schools. For questions  
related to default prevention, contact defaultpreventionassistance@ed.gov. For  
delinquency and default prevention resources, refer to the Default Prevention   
Resource Information Web page                                                   
(http://ifap.ed.gov/DefaultPre).ntionResourceInfo/).                            
                                                                                
The Department will not release your school's FY 2011 draft three-year cohort   
default rate to the public.  It is important to note that your school may not   
use its FY 2011 draft three-year cohort default rate to determine if it is      
eligible for any disbursement exemptions.  Corrected data received through the  
Incorrect Data Challenge process and from other sources will be used by the     
Department to calculate the FY 2011 official three-year cohort default rates in 
the fall.  At that time, the Department will notify your school of its official 
rate, and additional adjustment/appeal rights that may be available to your     
school.                                                                         
                                                                                
If you have any questions about the FY 2011 draft three-year school cohort      
default rate review process that are not addressed in the Cohort Default Rate   
Guide, please contact the Operations Performance Division at (202) 377-4259 or  
via email at fsa.schools.default.management@ed.gov.                             
                                                                                
                                                                                
Sincerely,                                                                      
                                                                                
                                                                                
Katrina Turner                                                                  
Director                                                                        
Operations Performance Management Services                                      
                                                                                
Special note for schools with 29 or fewer borrowers entering repayment for      
the FY 2011 period:  Please refer to page 2 of the Cohort Default Rate          
Guide for information regarding the average rate formula and calculation.       

PBA ref: L:\IR\emgt\FA\DefaultFY11Draft3Year.txt

Last revision 02/20/14


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