Cohort Default Rate definition

Cohort Default Rate shall have the meaning ascribed to such term in 34 C.F.R. § 668 Subpart N.

Cohort Default Rate means the percentage of an educational institution’s borrowers who enter repayment on certain Federal Family Education Loan Program and/or Xxxxxxx X. Xxxx Federal Direct Loan Program loans during a particular fiscal year and default or meet other specified conditions before the end of the next fiscal year, as is more specifically described in 34 C.F.R. Part 668 (including the definition of terms set forth herein).

Cohort Default Rate means the percentage of Federal Family Education Loan Program (FFELP) and William D. Ford Federal Direct Loan Program (Direct Loan) borrowers who default by the end of the second Federal fiscal year following the Federal fiscal year in which they entered repayment on their loans, unless otherwise defined by the United States Department of Education. The United States Department of

Examples of Cohort Default Rate in a sentence

• Permit the Cohort Default Rate for any School to exceed: (i) the maximum percentage permitted by the DOE for the applicable three consecutive cohort fiscal years in order for such school to participate in Title IV Programs or (ii) the maximum percentage permitted by the DOE for the applicable cohort fiscal year in order for such school to participate in Title IV Programs.

• The Borrower will not permit any Active Subsidiary whose operating income for the most recently completed Fiscal Year equals or exceeds seven and one-half percent (7-1/2%) of the aggregate operating income of all Active Subsidiaries for the same fiscal period to have a Cohort Default Rate in excess of twenty-five percent (25%) per year for the two (2) previous years.

• Data extracted from the School Cohort Default Rate History Report in NSLDS.

• Permit the Cohort Default Rate for the School (i) with respect to any period prior to the release of official cohort default rates, to be equal to or greater than thirty percent (30%) for three consecutive federal fiscal years or (ii) to exceed forty percent (40%) for any single federal fiscal year.

• FISCAL YEAR 2002 COHORT DEFAULT RATE During the third quarter of 2004, the Company was notified by the U.S. Department of Education that its Cohort Default Rate for fiscal year 2002 (the most recent annual period for which data is available) declined to 3.7% from 4.3% for the fiscal year 2001.

More Definitions of Cohort Default Rate

Cohort Default Rate has the meaning of an Official Cohort Default Rate provided in 34 C.F.R. Sections 668.182 and 668.201, as applicable.

Cohort Default Rate shall have the meaning ascribed thereto by the DOE in Title 34, Chapter VI, Part 668, Subpart B, Section 17 of the Code of Federal Regulations (34 C.F.R. Section 668.17), as the same may be amended from time to time.

Cohort Default Rate means the “official cohort default rate” as defined in 34 C.F.R. Part 668 Subpart N.

Cohort Default Rate means the percentage of current and former student borrowers who enter the repayment period in a given Federal Fiscal Year that default before the end ofthe following Federal Fiscal Year.

Cohort Default Rate means (for any award year in which 30 or more current and former students at the school enter repayment on a loan received for attendance at that school) the percentage of those current and former students who enter repayment in that award year on the loans received for attendance at that school and who default before the end of the following award year. For any award year in which less than 30 current and former students at the school enter repayment on a loan received at the school, “cohort default rate” means the percentage of those current and former students who entered repayment on loans received for attendance at that school in any of the three most recent award years and who defaulted on those loans before the end of the award year immediately following the year in which they entered repayment.

Cohort Default Rate means the meaning as provided in 34 C.F.R. Section 668 Subparts M and N, including Cohort Default Rates calculated for the periods specified in 34 C.F.R. § 668.183 and Cohort Default Rates calculated for the period specified in 34 C.F.R.§ 668.202.

Cohort Default Rate means, for any award year in which 30 or more current and former students at the institution enter repayment on a loan received for attendance at the institution, the percentage of those current and former students who enter repayment in that award year on the loans received for attendance at that institution who default before the end of the following award year. # borrowers who are in default status (240 or 270 days past due) at 6/30/18 # of borrowers who entered repayment between 7/1/16 and 6/30/17 (previous fiscal year) X 100% 41 1,190 X 100% = 3.45% Large Public University “Traditional” Default Calculation Defaulted Loans – Principal Balance Total O/S Loans - Enrolled - Xxxxx X 100 = Default Rate % 2,232,565 Defaulted 7,406,106 Total O/S X 100 = 30.14% Large Public University For any award year in which fewer than 30 current and former students at the school enter repayment, the cohort default rate calculation is based on an average of the three most recent award years as follows: the # of borrowers that are in default status (240 or 270 days past due) as of 6/30/18 the # of borrowers who entered repayment in each of the three most recent award years X 100 = % = 12 X 100 = 13.95% 26+26+24 86 ▪ Why is the cohort default rate still important? – ED will monitor rates, and if a school meets the threshold they will require school to liquidate. ▪ Penalties for high Xxxxxxx Cohort Default – 25% or higher, and Congress appropriates funds, the school’s FCC will be reduced to zero. – 50% or higher for the three most recent years, the school is ineligible to participate in the Federal Xxxxxxx Loan Program and must liquidate its loan portfolio. ▪ Pre Default Efforts – These items listed go beyond the Due Diligence requirements. *** Not Required*** ▪ Grace Ending Phone calls ▪ Additional Past Due Contact ▪ Letters ▪ Phone calls Default Management ▪ Post Default Efforts ▪ 6 monthly payments ▪ Loan Rehabilitation ▪ Forbearance ▪ Payment in Full ▪ Retroactive Deferment ▪ Retroactive Cancellation ▪ Bring Account Current (If loan is not accelerated) ▪ Types – Enrolled Borrower Report – Account Aging – Unknown/Bad/Change Address – Small Balance Report – Agency Placement/Acknowledgment – Close & Return – Bankruptcy – Legal – NSLDS Error Report ▪ Types – Agency Audit – Invoices – PIF and SIF* – Consolidation Payments – Rehabilitation – Total and Permanent Disability (TPD) – Assignment – Death Certificates COHEAO Membership ▪ Membership Benefits: – 3 FREE Webinars per year...