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Student Assistance General Provisions

Federal Register, February 25, 2003, Page 8746

Agency

Department of Education.

Action

Notice of implementation of electronic delivery of school cohort default rate data for institutions located in the United States.

Summary

The Secretary gives notice of the implementation of electronic delivery of cohort default rate notification packages to institutions located in the United States (domestic institutions) that participate in the Federal student aid programs authorized under Title IV of the Higher Education Act of 1965, as amended. This notice concerns electronic processes related to cohort default rates calculated for institutions participating in the Federal Family Education Loan (FFEL) Program, the William D. Ford Federal Direct Loan (Direct Loan) Program, or both. It does not apply to cohort default rates calculated for the Federal Perkins Loan Program.

Domestic schools must participate in this new electronic process by June 1, 2003. After that date, and except in the case of a technical problem caused by the U.S. Department of Education (Department) as described below, the electronic process will be the sole means by which the Secretary provides notice to domestic schools of their draft and official cohort default rates and underlying data. While participation in the electronic process by domestic schools is mandatory as of June 1, 2003, we will begin electronic distribution of cohort default rate notifications with the fiscal year (FY) 2001 draft rates in February 2003, for schools that by then have registered for the new service, as described below.

Further Information

Kriste Jordan, Default Management, Schools Channel, Federal Student Aid, U.S. Department of Education, Union Center Plaza, 084B4, 830 First Street, Washington, DC 20002. Telephone: (202) 377-3191, FAX (202) 275-4511. If you use a telecommunications device for the deaf (TDD), you may call the Federal Information Relay Service (FIRS) at 1-800-877-8339. Individuals with disabilities may obtain this document in an alternative format (e.g., Braille, large print, audiotape, or computer diskette) on request to the program contact person listed under FOR FURTHER INFORMATION CONTACT.

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