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DEMOGRAPHIC REALITIES:

DEMOGRAPHIC REALITIES: How to Review Your CDR to Determine At-Risk Students and Focus Efforts for Success. Presented by: Lorri Connor, Campus Engagement and Education Consultant Date: 05/19/14. Session Highlights. CDR Overview Ramifications and Reports Institutional Application.

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DEMOGRAPHIC REALITIES:

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  1. DEMOGRAPHIC REALITIES: How to Review Your CDR to Determine At-Risk Students and Focus Efforts for Success Presented by: Lorri Connor, Campus Engagement and Education ConsultantDate: 05/19/14

  2. Session Highlights CDR Overview Ramifications and Reports Institutional Application

  3. Important Take-Aways Timing is everything Consolidation versus Rehabilitation Understanding your Reports Reporting Review Know who is in your cohort

  4. CDR Overview

  5. What Is A CDR? • The percentage of the school’s borrowers who enter repayment on a loan during the fiscal year and default within the cohort default period.* • Measures the percentage of borrowers defaulting during a specific time period. • Calculated based on borrowers entering repayment, not types of loans. *Applies to schools who have 30 or more current or former students entering repayment during the fiscal year. For schools with 29 or fewer borrowers entering repayment during a fiscal year, the CDR is an “average rate” based on borrowers entering repayment over a three year period.

  6. Fiscal Year And CDR • CDR is based on the federal fiscal year (FFY). • The FFY begins October 1 and ends on September 30 of the following calendar year. • “Cohort fiscal year” refers to the fiscal year for which the CDR is calculated—not the year the rate is available or published. • For example: When calculating the 2010 CDR, the cohort fiscal year was FFY2010 (October 1, 2009, to September 30, 2010).

  7. 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

  8. 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.

  9. 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.

  10. Loans Used In Calculation

  11. Consolidation/Rehabilitation

  12. 2 vs. 3-Year CDR Monitoring 2-Year 3-Year

  13. 3-Year CDR Timeline Period during which borrowers default Feb. 2013 – Draft 2010 CDR Oct. 1 2009 Sept. 30 2010 Sept. 30 2011 Sept. 30 2012 Sept. 2013 – Final 2010 CDR Period during which borrowers enter repayment (FY2010)

  14. Ramifications and Reports

  15. CDR Benefits And Sanctions* * Benefits and sanctions for 3-year CDR calculation

  16. The Timeline Cohort Default Rate Guide http://www.ifap.ed.gov/DefaultManagement/CDRGuideMaster.html

  17. NSLDS Reports

  18. NSLDS Reports • Reports for Data Accuracy • Date Entered Repayment Report • School Repayment Info Loan Detail • School Cohort Default Rate History • Enrollment Reporting Summary • Reports for Default Prevention • School Loan Portfolio Report • Date Entered Repayment Report • Borrower Default Summary • Exit Counseling Report • Delinquent Borrower Report

  19. Institutional Application

  20. Keep Focused

  21. Example

  22. Delinquent Borrower Report Borrower information • Name • SSN • Date of Birth Loan information • Original loan amount, type, date disbursed/guaranteed • Outstanding principle balance (interest & fee balance) • Scheduled monthly payment amount • Days delinquent and delinquent date • {Date of default (and date of default for CDR)}

  23. Beyond NSLDS Once you have identified your delinquent and/or defaulted borrowers, what can you find out about them? • Attaching institutional data can help you see trends. • Specific major(s), academic performance, withdraw vs. completion, online students, loan debt, etc. What institutional processes can you set up or change to help address these areas?

  24. Tips For Reports Run reports: set regular monthly dates and work the reports • Identify current cohort borrowers • Identify current cohort delinquent borrowers • Identify critical delinquency borrowers • Any borrower that becomes delinquent before the last 360 days of the cohort year Focus efforts on these critical borrowers • Counsel about different repayment options • Help borrower go through loan rehabilitation process

  25. Questions?

  26. Name: Lorri Connor Title: Campus Engagement and Education Consultant Phone: 617.521.6220 Email: lconnor@asa.org Contact

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