Cohort Default Rate
The report will produce a list of Federal Loan/Receivables (Perkins, NDSL, and Defense) that are in the selected Fiscal Year and calculates the Cohort default rate as defined by the U.S. Dept of Education. The Cohort Customer Population is comprised of all Customer's who entered Repayment status during the fiscal year which precedes the selected fiscal year for which the Cohort is calculated. Defaulted Customers are comprised of those who reached 240 days (monthly repayment) or 270 days (quarterly repayment) delinquency during the fiscal year for which the Cohort is calculated. These totals are used to compute the cohort default rate as follows:
|
Field |
Description |
|
Fiscal Year |
Year selected represents the June 30 federal fiscal year end. |
|
|
Description |
|
Name |
Customer's name, comprised of "Last", "First" |
|
Customer ID |
Customer's ID |
|
Loan/Receivable |
The Loan/Receivable(s) represented in the Cohort population |
|
Campus |
Campus code associated with this Loan/Receivable |
|
Status |
The current status of this Loan/Receivable |
|
Repayment Begins |
Date the Loan/Receivable entered repayment status |
|
Default Date |
Date the Loan/Receivable became 240 (Monthly) or 270 (Quarterly)days delinquent |
|
Principal Borrowed |
Original Loan/Receivable amount |
|
Principal Balance |
Current principal balance |
|
Age |
The number of days past due As of Current Date |
|
Past Due Installments |
Number of missed payments As of Current Date |
|
Cohort Default Rate |
|
|
Total Customers |
Number of Customers in the Cohort population |
|
Total Defaulted |
Number of Customers in Cohort population that have defaulted |
|
Default Rate |
% = Total Defaulted / Total Population |
|
Original Principal Amount |
Original Loan/Receivable amount for Cohort population |
|
Defaulted Principal Balance |
Current Principal balance for Defaulted Loan/Receivables |
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