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February will mark the first time that the Department will use an electronic delivery mechanism to provide some schools with their FY 2001 draft cohort default rate notification package. |
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Electronic Cohort Default Rates From Mary Elizabeth McGeorge, Default Management, Department of Education As you may be aware, February will mark the first time that the Department will use an electronic delivery mechanism to provide some schools with their FY 2001 draft cohort default rate notification package. At this point, participation in eCDR is still optional, and the Department is pleased that 56% of domestic schools elected the electronic process. On the morning of Tuesday, February 18, 2003, the FY 01 draft cohort default rate notification packages were available at the SAIG mailbox designated by those schools. Each school will find three files in their eCDR notification package: (1) a cover letter, (2) a reader-friendly loan record detail report, and (3) an extract-type loan record detail report. About 44% of domestic schools did not sign up for eCDR in time for this cycle. Those schools will still receive paper this time. The targeted mailing date for the paper packages, which will be sent by second day Airborne Express, was also Tuesday, February 18th. In addition, foreign school and US Territory representatives often do not have Social Security Numbers and therefore cannot access SAIG. Any foreign or US Territory school that signed up for eCDR will receive a courtesy electronic notification package, but all foreign schools will continue to receive their cohort default rates from the Department via USPS delivery. Since eCDR is such a new process, on Friday, February 14th, Default Management sent another update email. If you have further questions about electronic cohort default rate (eCDR) notification you need to contact FSA.schools.default.management@ed.gov or via phone at 202-377-4258.
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