Julie Haack St. Ambrose University Analyzing Your CDR Julie Haack St. Ambrose University

Analyze your Cohort Every year you get a file that has all the students in your Cohort, both defaulters and the ones in good status. It is tempting to just see the rate and go on if you are not in a bad spot. There is quite a bit you can learn from the data, and use that data to help your students stay out of hot water.

Cohort Default Cycle February 2016 – Draft FY 2013 Rate October 2016 – Official FY 2013 Rate February 2017 – Draft FY 2014 Rate October 2017 – Official FY 2014 Rate

Calculating a Cohort Default Rate Cohort default period – 3 year period Begins: Oct 1 of the fiscal year when the borrower enters repayment Ends: Sept 30 of the second fiscal year following the fiscal year in which the borrower entered repayment If a student defaults during the cohort default period it will impact your institutional cohort default rate.

How CDR Is Calculated Numerator: Number of student loan borrowers who entered repayment during a specific FFY and defaulted within the cohort default period ÷ Denominator: Total number of student borrowers who entered repayment during the specified FFY ×100 Note: This formula is for schools with 30 or more student borrowers who entered repayment

Borrowers In The Denominator Borrowers are included in the denominator based on their repayment start date. Repayment begins 6 months after the borrower separates from the institution, or drops below half-time. The official repayment start date is the first day after the end of the grace period. Borrowers who use deferment or forbearance are still included in the denominator.

Borrowers In The Numerator Defaulted borrowers who are included in the denominator comprise the numerator. Direct Loan program (DL) loans enter default after 360 days of delinquency. Federal Family Education Loan Program (FFELP) loans enter default if the guarantor has paid a default claim to the lender holding the loan. The date the guarantor pays the lender (the claim date) determines what year the loan defaults.

3 – Year CDR Timeline Period during which borrowers default Feb. 2016 – Draft 2013 CDR Oct. 1 2012 Sept. 30 2013 Sept. 30 2014 Sept. 30 2015 Sept. 2016 – Final 2013 CDR Period during which borrowers enter repayment (FY2013)

Impact of Cohort Default Rate

Impact of Cohort Default Rate

Cohort Default Rate Guide

ED Tool to Import file It used to be more difficult Now there is an easy import tool Go to IFAP

Right Side of IFAP Home Page

Path To the Tool 1 2 3 http://ifap.ed.gov/DefaultManagement/guide/TemplatesSpreadshts.html

Open the file, instructions on first tab

Import the SHCDREOP file

Text file will import into correct fields

Click on Data, then Filter, to get defaulters Select B when filtered to get Numerator and Denominator Both, this is your Numerator

Click on Data, then Filter, to get defaulters Select B and D to get Denominator, this is your Denominator.

How many students are in default? Look at the bottom of your excel worksheet as you sort. 61 of 4591 Records Found (filtered on B) 872 of 4591 Records Found (filtered on B and D) Numerator = 61 Denominator = 872 6.9%

Codes, Codes, Codes

Codes, Codes, Codes

Here is how to read your LRDR: