description: tags: new%20data%20adj

8/14/2019 description: tags: new%20data%20adj

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FY 1998 Official Cohort Default Rate Guide Page 10

New Data

AdjustmentThis section is divided into two parts. The first part (pages 101through 128) provides background information on the new dataadjustment process and outlines the procedures for submitting a newdata adjustment. The second part (pages 129 through 140) providesan example of a situation that would warrant the submission of a newdata adjustment and sample material as it would pertain to a newdata adjustment.

To understand the new data adjustment process, the U.S.Department of Education (Department) recommends that thereader review both parts of this section.

What is a new data adjustment?

A new data adjustment is a process that provides any school thatreceives an official cohort default rate, an opportunity to challengethe accuracy of any new data included in the schools officialcohort default rate.

The new data adjustment is a new cohort default rateprocess as described in the preamble to the finalregulations published November 1, 1999. See 64Federal Register 58974 58975.

QUALIFYING

Note

PART I: Background,

Process, and Procedures


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New Data Adjustment Information for Schools on Adjustments and Appeals

Page 102 FY 1998 Official Cohort Default Rate Guide

What is new data?

New data occurs when the loan data reported to the NationalStudent Loan Data System (NSLDS) is changed during the periodbetween the calculation of the draft and official cohort default rates.

New data can be identified by comparing the draft and official loanrecord detail reports for the same year and determining if any loandata is newly included, excluded, or changed in any manner.

Examples of new data include:

a specific loan is not included in the draft cohortdefault rate calculation but the loan is included in theofficial cohort default rate calculation as either adefaulted or non-defaulted loan;

a loan is included in the draft cohort default ratecalculation as either a non-defaulted loan or adefaulted loan but the same loan is not included inthe official cohort default rate calculation;

a loan is included in the draft cohort default ratecalculation as a non-defaulted loan but the sameloan is included in the officialcohort default ratecalculation as a defaulted loan;

a loan is included in the draft cohort default ratecalculation as a defaulted loan but the same loan isincluded in the official cohort default rate calculationas a non-defaulted loan.

Which schools are eligible to submit a newdata adjustment?

All postsecondary schools that receive an official cohort defaultrate may initiate a new data adjustment. This includes schoolswhose official cohort default rates are below 25.0 percent.

However, if the guaranty agency/Direct Loan servicer responsiblefor reviewing a schools new data allegations does not agree thatthe newly reported data is incorrect , the school may not submitthe allegation to the Department for final arbitration.

What causes new data toappear in the official cohortdefault rate calculation?

New data may appear in

the official cohort default ratecalculation because NSLDS

is continuously provided withnew/updated information.Because the draft cohortdefault rates are calculatedapproximately six monthsbefore the official cohortdefault rates are calculated,the data used to calculatethe draft cohort default ratesmay be different than thedata used to calculate theofficial cohort default rates.

If a schools statuschanges after the release ofthe draft cohort default ratesBUT before the release ofthe official cohort defaultrates and the change instatus results in a merged,substituted, and/or combinedofficial cohort default rate, isthe data that is included inthe schools official cohortdefault rate as a result of thechange in status considerednew data?

Yes, if new data appears

in a schools official cohortdefault rate as a result of achange in status and theschool believes that the newdata is incorrect, it canaddress the data changes asa part of a new dataadjustment.


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Information for Schools on Adjustments and Appeals New Data Adjustmen


Why should a school submit a new dataadjustment?

After the release of the official cohort default rates, a school shouldsubmit a new data adjustment if:

the school discovers that a loan on its official loanrecord detail report when compared with its draft loanrecord detail report for the same year, is newlyincluded, excluded, or changed in some manner;

AND

the school believes that the way the loan is beingused in the official cohort default rate calculation isincorrect;

AND

the school determines that the change did NOT resultfrom its draft data challenge;

If the loan data are reported in the same manner inthe draft and official loan record detail reports, theschool may NOT challenge the data as part of a newdata adjustment. If these data issues are submittedas part of a new data adjustment, they will NOT bereviewed.

For which cohort default rates may a schoolsubmit a new data adjustment?

A school can only request an adjustment of the most recent [in thiscase fiscal year (FY) 1998] official cohort default rate data as partof a new data adjustment. Schools that have 29 or fewer borrowersentering repayment are also limited to submitting a new dataadjustment for only the current year's official data.

Is a new data adjustment the same as anuncorrected data adjustment or an erroneousdata appeal?

No, a new data adjustment is NOT the same as an uncorrecteddata adjustment or an erroneous data appeal.

Note

If a school receives anofficial cohort default ratebut has officially withdrawfrom the FFEL Programand/or Direct LoanProgram, should the schoreview the cohort defaultrate data?

Yes. It is important toaddress any new datafound in the cohort defaulrate data because a schomay not be given anotherchance to address theseerrors and the school maybe subject to certainconsequences as a resultits official cohort defaultrates even if the school isno longer participating inthe FFEL Program and/or

Direct Loan Program.


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A new data adjustment addresses data that werecorrectly reported in the draft loan record detail reportBUT were incorrectly reported in the official loanrecord detail report (i.e., new data). Any school,regardless of its cohort default rate, may submit anew data adjustment PROVIDED that the adjustmentis timely submitted and the guaranty agency/DirectLoan servicer correctly agreed to change the dataafter the release of the official cohort default rates.

An uncorrected data adjustment addresseschanges to data that were correctly agreed to duringthe draft data challenge process, but were not made.Any school, regardless of its cohort default rate, maysubmit an uncorrected data adjustment PROVIDED

that the adjustment is timely submitted and theguaranty agency/Direct Loan servicer correctlyagreed to change the data during the draft datachallenge process.

An erroneous data appeal addresses data that werechallenged during the draft data challenge processbut were not resolved during the draft data challengeprocess and/or new data that appear in the schoolsofficial cohort default rate. An erroneous data appealmay only be submitted by a school that is subject to

sanctions as a result of the schools official cohortdefault rates. When submitting an erroneous dataappeal, the guaranty agency/Direct Loan servicerdoes not need to agree that a change to the data iswarranted.

A school may be eligible to submit a new dataadjustment, an uncorrected data adjustment, and/oran erroneous data appeal. If a school is submittingone or more of the adjustments/appeals, it isimportant to note that each has different eligibility,

deadlines, and documentation requirements.

For more information on uncorrected data adjustments and/orerroneous data appeals, please refer to the Uncorrected DataAdjustment and/or Erroneous Data Appeal sections beginning onpages 83 and 141, respectively.

Note


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Should a school subject to sanctions submit anew data adjustment?

No, a school that is subject to sanctions due to its cohort defaultrates should always submit an erroneous data appeal rather than a

new data adjustment.

A new data adjustment will only result in a change to a school'scohort default rate PROVIDED that the school timely and correctlysubmits the adjustment to the Department and the guarantyagency/Direct Loan servicer and the Department correctly agreethat a change is warranted. If the guaranty agency/Direct Loanservicer does not agree that a change is warranted, the Departmentwill NOT review the school's new data adjustment.

An erroneous data appeal, which is limited to schools subject to

sanctions due to cohort default rates, may result in a change to aschool's cohort default rate even if the guaranty agency/Direct Loanservicer does not agree that a change is warranted PROVIDED thatthe school timely and correctly submits the appeal to theDepartment and can provide substantial evidence to theDepartment that a change is warranted.

Please refer to the Erroneous Data Appeal section beginning onpage 141 for information on submitting an erroneous data appeal.

What if a school does not submit a new data

adjustment?

If a school does not submit a new data adjustment after the releaseof the official cohort default rates, the school may not have theopportunity to challenge the data at a later time.

What role does a guaranty agency have in aschools new data adjustment allegations?

A guaranty agency is required to respond to a schools timely

submitted new data adjustment allegations for those FFEL Programloans for which the agency currently maintains the guaranty.

A school can determine which guaranty agencycurrently maintains the guaranty on an FFEL Programloan by the guarantor/servicer code that is reported

on the loan record detail report for the loan in question."Appendix A" identifies the entity associated with eachguarantor/servicer code.

Note


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The guaranty agency must respond to the school's new dataallegations within 15 working days of receiving the allegations. Ifthe guaranty agency does not respond within 15 working days, theschool should advise the Departments Default ManagementDivision, in writing, of the delay.

In its response to a schools new data allegations, theguaranty agency will address each of the schoolsallegations. However, the guaranty agency shouldNOT respond to a new data allegation if the time framefor a school to submit the new data allegations hasexpired.

Please refer to the Information for Guaranty Agencies onAdjustments and Appeals section beginning on page 347 for moreinformation on guaranty agency responsibilities and the "Timing andSubmitting" portion of this section beginning on page 116 for more

information on the time frames associated with new dataadjustments.

What role does the Department have in aschools new data adjustment?

The Department has two separate roles in a schools new dataadjustment. The Departments first role is responding to a schoolsallegations regarding new data if the guarantor/servicer code for aloan in question is 555 or 0101. The Departments second roleis to review schools' new data adjustments.

The Department is responsible for responding to aschools allegations regarding the accuracy of newdata if the allegations address FFEL Program loanscurrently held by the Department and/or Direct LoanProgram loans.

v The Department's Default ManagementDivision is responsible for responding toschools' allegations regarding FFEL Programloans that are currently held by theDepartment. These loans are identified in theloan record detail report with a guarantor/servicer code of "555". The address to submit

new data allegations to the Department'sDefault Management Division is provided inAppendix A.

Note


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v The Department's Direct Loan servicer is

responsible for responding to schools'allegations regarding ALLDirect LoanProgram loans. These loans are identified inthe loan record detail report with a

guarantor/servicer code of "0101". Theaddress to submit new data allegations to theDepartment's Direct Loan servicer is providedin Appendix A.

Even though the Current Lender/Servicer/Holder code for defaultedDirect Loan Program loans is 555, ALL

inquiries regarding Direct Loan Programloans must be directed to the DirectLoan servicer.

The Departments Default Management Division isalso responsible for reviewing a school's new dataadjustment once the school has received confirmationthat a change to the data is warranted.

If the guaranty agency/Direct Loan servicerindicates that a change is NOT warrantedbased on the new data allegations presentedby the school, the school cannot submit thoseallegations to the Department as a part of anew data adjustment.

v If the Department determines that the guarantyagency/Direct Loan servicer correctly agreedthat changes are warranted to the new dataidentified by the school, the Department willrecalculate the school's cohort default ratebased on the correct data and notify the schoolof the revised cohort default rate calculation.

Please refer to page 33 of the "Cohort DefaultRate Calculation" section for information onadding and subtracting loans to and from thecohort default rate calculation.

Note

Note


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v If the school was previously notified that it wassubject to sanctions due to its official cohortdefault rates and the Department determinesthat the school's revised cohort default rate isbelow the applicable sanction threshold(s), theDepartment will withdraw the notice that the

school is subject to the loss of eligibility toparticipate in any Title IV Student FinancialAssistance Programs due to the schoolsofficial cohort default rates.

v If the school is subject to initial or extendedloss of eligibility to participate in the FFELProgram, Direct Loan Program, and/or FederalPell Grant Program, and the Departmentdetermines that the school's revised cohortdefault rate(s) is NOT below 25.0 percent and

the school does not have any other cohortdefault rate adjustments/appeals pendingbefore the Department, the Department willnotify the school of the effective date of its lossof eligibility to participate in the FFEL Program,Direct Loan Program, and/or Federal PellGrant Program and any liabilities that theschool may have incurred during theadjustment/appeal process.

If a school is subject to initial loss ofeligibility to participate in the FFEL

Program and/or Direct Loan Programand the schools adjustment/appeal ofthat loss is unsuccessful, the school willbe liable for certain costs associatedwith FFEL Program loans certified anddelivered and Direct Loan Programloans originated and disbursed by theschool. A schools period of liability withregard to these costs begins 30calendar days after the school receivesnotice that it is subject to initial loss of

eligibility to participate in the FFELProgram and/or Direct Loan Program.The period of liability ends upon theearlier of the withdrawal of the schoolsadjustment/appeal, the resolution of theschools adjustment/appeal, or the 45th

calendar day after the date the schoolsubmitted its completed adjustment/appeal to the Secretary for review.

Note


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v If the school is subject to possible limitation,suspension, and/or termination (LS&T) due toits official cohort default rate and the school'srevised cohort default rate is not below 40.1percent, and the school does not have any

other cohort default rate adjustments/appealspending before the Department, the school willbe referred to the Department's AdministrativeActions and Appeals Division for possibleLS&T from all Title IV Student FinancialAssistance Programs.

Please refer to page 37 of the "Cohort Default Rate Effects" sectionfor more information on the effects of sanctions associated withofficial cohort default rates.

What if a schools new data allegations and/oradjustment is sent to the wrong entity?

If a school submits its new data allegations and/or adjustment to thewrong entity, the new data allegations/adjustment will NOT bereviewed and the school could miss the deadline for submitting thenew data allegations/adjustment.

New data allegations should be sent to the entity responsible for the

loan. The entity responsible for the loan is identified by theguarantor/servicer code that is reported on the loan record detail

report for the loan in question.The entities identified by the guarantor/servicercodes in the loan record detail report include guaranty

agencies, the Departments Default ManagementDivision, and the Departments Direct Loan servicer."Appendix A" identifies the contact and addressinformation for each entity associated with eachguarantor/servicer code.

New data adjustments should be sent to the Department's Default

Management Division at the address on page 128 once the schoolhas received confirmation that a change to the data is warranted.

Note


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How can a new data adjustment affect theschools official cohort default rate?

If, as a result of a new data adjustment, the Department determines

that a schools official cohort default rate is incorrect, theDepartment will recalculate the cohort default rate using thecorrected data. This may lower, raise, or not affect any of a

schools three most recent official cohort default rates.

Please refer to page 33 of the Cohort Default Rate Calculationsection for information on adding and subtracting loans to and fromthe cohort default rate calculation.

Even though the Department may alter a schoolsofficial cohort default rate calculation(s), subsequent

copies of the school's official loan record detailreport(s) will not reflect the change. Therefore, it isimportant to keep a copy of the Department's finaldetermination letter as the official record of theschools cohort default rate(s).

What types of allegations may a school submitas a part of a new data adjustment?

The following are examples of various types of allegations a school

may submit as a part of its new data adjustment PROVIDED thatthe loans on which the allegations are based are considered newdata.

To demonstrate that a loan is considered new data, aschool must include in its request for review of its newdata allegations a copy of the relevant page(s) fromthe draft and official loan record detail reports to showthat the loan has been newly included, excluded,and/or changed in some manner between thecalculation of the draft and official cohort default rates.

Note

Note


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Borrower is missing from official cohort defaultrate calculation

If a school believes that a borrower was incorrectlyexcluded from the official cohort default ratecalculation, it should include documentation in itsadjustment to prove the borrowers last day ofattendance and the correct date entered repayment,along with proof that the school timely submitted thechange in enrollment documentation to thelender/guaranty agency/Direct Loan servicer or theNational Student Loan Data System (NSLDS), asrequired.

Please refer to page 20 of the "Cohort Default RateCalculation" section for information on which

borrowers should be included in the cohort defaultrate calculation and page 60 of the "Loan RecordDetail Report" section for information on identifyinghow borrowers are used in the cohort default ratecalculation.

Loan duplicated in official cohort default ratecalculations

If a school believes that the same loan is reported in

two different official cohort default rate calculations, itshould include documentation in its adjustment toprove the borrowers last day of attendance and thecorrect date entered repayment, as well as proof thatthe school timely submitted the change in enrollmentdocumentation to the lender/guaranty agency/DirectLoan servicer or NSLDS, as required. In addition, theschool should provide the pages of the official loanrecord detail reports from the two separate cohortdefault rate calculations to demonstrate that the loanwas duplicated.

Please refer to the Special Circumstances AffectingHow Cohort Default Rates Are Calculated chart onpage 25 of the "Cohort Default Rate Calculation"section for information on multiple loans for oneborrower and page 60 of the "Loan Record DetailReport" section for information on identifying howborrowers are used in the cohort default ratecalculation.


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Loan reported with an incorrect date enteredrepayment

If a school believes that the date entered repaymentfor a loan listed on the official loan record detail reportis incorrect, it should include documentation in itsadjustment to prove the borrowers last day ofattendance and the correct date entered repayment,as well as proof that the school timely submitted thechange in enrollment documentation to thelender/guaranty agency/Direct Loan servicer orNSLDS, as required.

Please refer to page 20 of the "Cohort Default RateCalculation" section for information on determining thecorrect date entered repayment and page 58 of the

"Loan Record Detail Report" section for informationon the location of the date entered repayment on theloan record detail report.

Borrower received an insufficient grace period ordelinquency period

If a school believes that a borrower received aninsufficient grace period or delinquency period, theschool should determine if the borrowers dateentered repaymentand/or claim paid date for FFEL

Program loans and/or default date for Direct LoanProgram loans are correct. If the date enteredrepayment and/or claim paid date/default date areincorrect, the school should include documentation inits adjustment to prove the correct date enteredrepayment and/or claim paid date/default date and, inthe case of the date entered repayment, proof that theschool timely submitted the change in enrollmentdocumentation to the lender/guaranty agency/DirectLoan servicer or NSLDS, as required.

Please refer to pages 20 through 23 of the "CohortDefault Rate Calculation" section for information oncalculating the date entered repayment and forinformation on the parameters of the claim paiddate/default date, and page 58 of the "Loan RecordDetail Report" section for information on the locationof the date entered repayment and claim paiddate/default date on the loan record detail report.

. If a loan is consideredin default due to the defaultof a consolidation loan, towhich entity should theschool submit itsadjustment the entity thatguaranteed/ originated theoriginal loan or the entitythat guaranteed/originatedthe consolidation loan?

. If the school ischallenging the date theoriginal loan enteredrepayment, it shouldaddress its adjustment tothe entity identified by theguarantor/servicer code onthe loan record detail reportfor the original loan. If theschool is challenging thedefault status of theconsolidation loan, it should

address its adjustment tothe entity identified by theguarantor/servicer code onthe loan record detail reportfor the consolidation loan.

The same entity is notalways responsible for both

loans.


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Loan incorrectly converted using date-specificand/or month-specific methodology

If the school believes a lender failed to use date-specific methodology to convert an FFEL Programloan into repayment, the school should submit theallegation as a part of its adjustment. The schoolshould include documentation in its adjustment toprove the borrowers last day of attendance and thecorrect date entered repayment, as well as proof thatthe school timely submitted the change in enrollmentdocumentation to the lender/guaranty agency orNSLDS, as required.

Please refer to page 20 of the "Cohort Default RateCalculation" section for information on calculating the

date entered repayment and page 58 of the "LoanRecord Detail Report" section for information on thelocation of the date entered repayment on the loanrecord detail report.

Federal SLS Loan and FFEL Program StaffordLoan entered repayment at different times

If a school believes a Federal SLS loan and an FFELProgram Stafford loan, with different repaymentdates, were given during the same period of

continuous enrollment and should have the samerepayment dates, the school should includedocumentation in its adjustment to prove that theloans have different repayment dates anddocumentation demonstrating that the loans weregiven during the same period of continuousenrollment.

Please refer to page 21 of the "Cohort Default RateCalculation" section for information on how todetermine the repayment dates for Federal SLS and

FFEL Stafford loans given during the same period ofcontinuous enrollment and page 58 of the "LoanRecord Detail Report" section for information on thelocation of the date entered repayment on the loanrecord detail report.


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Cancelled loans included in the official cohortdefault rate calculation

If a school believes that a loan included in the officialcohort default rate calculation has been cancelled, it

should include documentation in its adjustment toprove that the loan was never disbursed or was fullyrefunded within 120 days of disbursement.

Please refer to the Special Circumstances AffectingHow Cohort Default Rates Are Calculated chart onpage 29 of the "Cohort Default Rate Calculation"section for information on the exclusion of cancelledloans from the cohort default rate calculation andpage 60 of the "Loan Record Detail Report" sectionfor information identifying how borrowers are used in

the cohort default rate calculation.

Discharged loans included as defaulted loans inthe official cohort default rate calculation

If a school believes that a loan reported as adefaulted loan in the official cohort default ratecalculation was discharged due to death, bankruptcy,and/or disability PRIOR to defaulting, it should includedocumentation in its adjustment to prove that the loanwas discharged prior to defaulting and proof that the

lender/guaranty agency/Direct Loan servicer wastimely notified of the incident that resulted in thedischarge.

Please refer to the "Special Circumstances AffectingHow Cohort Default Rates are Calculated" chart onpages 27 and 28 of the "Cohort Default RateCalculation" section for information on the exclusionof discharged loans due to death, bankruptcy, and/ordisability from the cohort default rate calculation andpage 60 of the "Loan Record Detail Report" section

for information on identifying how borrowers are usedin the cohort default rate calculation.


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Defaulted loan was repurchased by the lender

If a school believes that a defaulted loan wasrepurchased by the lender and should be removedfrom the official cohort default rate calculation, theschool should determine why the loan wasrepurchased.

v If the loan was repurchased by the lenderbecause the guaranty agency determined thatthe lender failed to meet the insurancerequirements, the loan is an uninsured loanand should not be included in the cohortdefault rate calculation. A school shouldrequest that the loan be completely removedfrom the official cohort default rate calculation.

v If the loan was repurchased following thepayment on a claim because the lenderincorrectly submitted the loan to the guarantyagency and the lender immediately requested

the loan be returned and a subsequent claimwas not paid on the loan within the cohortperiod in question, the loan should not beincluded in the numerator of the cohort defaultrate calculation. The school should requestthat the loan be removed from the numerator of

the official cohort default rate calculation.

v If the loan was repurchased following thepayment on a claim because the borrowerestablished a new payment plan and wasmaking payments or if the lender/servicersimply requested the repurchase (i.e., acourtesy repurchase), the school shouldrequest that the loan be removed from thenumerator of the official cohort default ratecalculation ONLY if the loan was successfullyrehabilitated in accordance with the criteria

described in the "Special CircumstancesAffecting How Cohort Default Rates areCalculated" chart on page 30 in the "CohortDefault Rate Calculation" section.


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Please refer to the "Special CircumstancesAffecting How Cohort Default Rates AreCalculated" chart on pages 31 and 32 of the"Cohort Default Rate Calculation" section forinformation on repurchased loans, and page 60

of the "Loan Record Detail Report" section forinformation on identifying how a loan is used inthe cohort default rate calculation.

These are some, but not all, of the allegations a school mayidentify.

If the documentation submitted by the school as apart of its new data adjustment was never originallysubmitted to the guaranty agency/Direct Loan serviceror lender, or was not submitted in a timely manner,

the guaranty agency/Direct Loan servicer mayrespond that the data in question was determinedbased on the best information available at the time,and, as a result, for cohort default rate purposes, nochange is warranted.

What are the time frames and procedures forsubmitting a new data adjustment?

Timing is critical when submitting a new data adjustment. An

overview of the time frames for the new data adjustment process isshown on the next page.

If the schools submission due date falls on aweekend or a federal holiday, a school may send itsnew data allegations/adjustment to the guarantyagency/Direct Loan servicer/Department no later thanthe next federal business day.

TIMING AND SUBMITTING

Note

Note


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A school must submit new dataallegations to the appropriate entity(ies)

and send a copy of the allegations tothe Department within 10 working daysof receiving the official loan record detail

report.

Upon receipt of the lastresponse to all of its newdata allegations, a school

must either:

within 5 working days ,send a letter to the

Department stating that theschool would like towithdraw its new data

adjustment.

within 5 working days ,submit a new data

adjustment to theDepartment.

The entity receiving the school'snew data allegations must respondto the school and send a copy of theresponse to the Department within15 working days of receiving the

school's request.

A school must requestthe loan record detail

report within 10working days of

receiving notification ofits official cohort default

rate.

NO

YES

Did the schoolreceive its officialloan record detailreport with the

notification of itsofficial cohortdefault rate?

Diamond = QuestionBox = Time frames for schools

Oval = time frames for guaranty agencies/Direct Loan servicer

within 5 working days ,send a letter to the

Department stating that theschool is submitting its newdata adjustment with its

timely submitted erroneousdata appeal and/or

improper loan servicing and

collection appeal.


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Please referto page 130

for anexample of asituation that

wouldwarrant thesubmission

of a newdataallegation.

Time frames

may overlap.

Read ALLsteps.


for sampleloan recorddetail

reports.

The following pages provide a step-by-step description of the timeframes and procedures associated with a new data adjustment.

Step 1: Within 10 working days of receiving its official cohortdefault rate notification letter, if the school did notreceive a copy of its official loan record detail reportwith the official cohort default rate notification letterand the school believes it may want to submit a newdata adjustment, it must request its official loan recorddetail report.

Please refer to page 68 of the Electronic LoanRecord Detail Report" section for instructions onrequesting a copy of the loan record detail report.

All schools with an FY 1998 official cohortdefault rate of 10.0 percent or greater will

receive an FY 1998 official hardcopy loanrecord detail report with their FY 1998 officialcohort default rate notification letter. If aschool received a hardcopy official loan recorddetail report and it subsequently requested anelectronic loan record detail report, the timeframes to submit the new data allegations arebased on the schools receipt of the hardcopyofficial loan record detail report.

Step 2: Within 10 working days of receiving its official loan

record detail report, a school must identify any newdata, which it believes is incorrect, by:

comparing the draft loan record detail report tothe official loan record detail report;

identifying any changes in the loan databetween the draft and official loan record detailreports;

AND

determining if the changes in the loan dataresult in the loan data being reportedincorrectly.

When determining if new data is incorrect, aschool should refer to the types of allegationsthat a school may submit as part of a new dataadjustment beginning on page 110.

Example Note

Example

Note


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forsample

relevant loanrecord detail

reports.

Please referto page 135for an

example ofsupporting

document-ation.

Step 3: If new data is identified and the school believes thedata is incorrect, within the time frame described inStep 2 (i.e., within 10 working days of receiving theofficial loan record detail report), a school must

Compile a list of the loans that are considerednew data and that the school believes areincorrectly reported in the official cohort defaultrate. A separate list should be compiled foreach entity responsible for the loan(s) inquestion.

A school should refer to the New DataAllegations SPREADSHEET andSPREADSHEET INSTRUCTIONS on pages133 and 132, respectively, to assist in

developing the list.

Compile copies of the relevant pages of thedraft and official LOAN RECORD DETAILREPORTS to demonstrate that the loansidentified on the spreadsheet are considerednew data.

The relevant pages of the draft and official loanrecord detail reports include those pageswhere the loan appears or should appear. If

the loan appears (or should appear) at the topor bottom of a page, the school should includethe preceding or succeeding page todemonstrate that the loan is not on theprevious or subsequent page.

AND

Compile copies of the relevant supportingdocumentation that demonstrates that the loanis incorrectly used in the official cohort defaultrate calculation.

Examples of supporting documentationinclude:

Example

Please referto page 133for asamplelist.

Example

How can a schoolidentify to which entity anallegation must besubmitted?

The relevant entities towhich an allegation must besubmitted can be

determined by cross-referencing a loan'sguarantor/servicer code aslisted on the loan recorddetail report with theguarantor/servicer codeslisted in "Appendix A"."Appendix A" also providesa list of the addresses

associated with each entity

Example


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Due date forsubmittingallegations to

the guarantyagency/Direct

Loan servicer.

v a signed and dated copy of a letter tothe relevant lender, guaranty agency,and/or Direct Loan servicer that informsthe entity of the borrowers last date ofattendance and proof that the

documentation was timely sent to therelevant lender/guaranty agency/DirectLoan servicer;

v a dated copy of a Student StatusConfirmation Report (SSCR) sent to arelevant entity that confirms theborrowers last date of attendance andproof that the documentation was timelysent to the lender/guaranty agency/Direct Loan servicer;

v a screen print from the SSCR functionwithin NSLDS that confirms theborrowers last date of attendance wastimely recorded within NSLDS;

AND/OR

v a copy of a cancelled check, front andback, or other documentation showingthat the borrowers loan was cancelledin-full within 120 days of disbursement

by the lender.

These are some, but not all, of thepossible documentation that may beprovided to support a school'sallegation.

Step 4: Within the time frame described in Step 2 (i.e.,

within 10 working days of receiving its official loanrecord detail report), submit the following to eachentity for which the school has identified new data that

may be incorrect:

a letter requesting that the entity review andrespond to the school's new data allegations;

A school should refer to the sample New DataAllegations LETTER on page 134.


for a sample

letter.Example

Note


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the New Data Allegations SPREADSHEET asdescribed in Step 3;

copies of the relevant pages of the draft andofficial LOAN RECORD DETAIL REPORTSassociated with each allegation of new data asdescribed in Step 3;

AND

copies of RELEVANT SUPPORTINGDOCUMENTATION that support the school'sallegations as described in Step 3.

Step 5: Within the time frame described in Step 2 (i.e., within

10 working days of receiving its official loan recorddetail report) send the Department copies of therequest letter and spreadsheet created in Step 4 thatwere sent to each guaranty agency/Direct Loanservicer.

If a school does not meet these 10-working-day time

frames, the school will NOT be eligible to continuewith the new data adjustment process.

A school does NOT need to send copies of theloan record detail reports or supporting

documentation to the Department at this time.

The chart shown on the next page provides an overview of theMATERIAL that should be included in a schools request to aguaranty agency/Direct Loan servicer to review and respond to newdata allegations.

Note

How long does a

guaranty agency/DirectLoan servicer have torespond to a school's newdata allegations?

A guaranty agency/

Direct Loan servicer hasworking days to responda school's new dataallegations.

Please refer to the sectionentitled "Information forGuaranty Agencies onAdjustments/Appeals" onpage 347 for moreinformation about respons

to a school's new dataallegations.


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Within the time frames described in Step 4 on page 120, thefollowing MATERIAL,to support new data allegations, should besent to each relevant guaranty agency/Direct Loan servicer.

The section behind Tab 1 contains:

A letter on the schools letterhead with

the schools OPE ID number; a statement indicating that the school is submitting new

data allegations;

a reference to the applicable cohort default rate (in thiscase FY 1998);

the signature of the schools President/CEO/Owner,followed by a signature block providing the signers nameand job title;

AND

a notation that a copy of the letter and spreadsheet will be

sent to the Departments Default Management Division atthe address shown on page 128.

Schools only need to send a copy of the letter andspreadsheet to the Departments Default ManagementDivision. It is not necessary to send copies of the loanrecord detail report or supporting documentation to theDepartments Default Management Division at this time.

Schools should refer to the sample New Data AllegationsLETTER, on page 134.


A spreadsheet of all of the schools new data allegations.

Schools should refer to the sample New Data AllegationsSPREADSHEET and SPREADSHEET INSTRUCTIONS onpages 133 and 132, respectively, to assist in creating the list.


Copies of the relevant pages of the draft and official loanrecord detail reports.

Schools should refer to page 119 for information on which pagesare considered the relevant pages of the draft and official loanrecord detail report(s) and the sample LOAN RECORD DETAILREPORT on page131.


Copies of the supporting documentation to support theschools list of new data allegations.

Schools should refer to pages 119 and 120 for information onwhat is considered relevant supporting documentation and thesample SUPPORTING DOCUMENTATION on page 135.

I

Tab 1

Tab 2

Tab 3

Tab 4


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Step 6: Within 5 working days of receipt of an entity's

response to a school's new data allegations,determine if any additional clarification is needed. Ifadditional clarification is needed, the request forclarification must be submitted to the entity within 5

working days of receipt of the initial response and acopy of the request must be simultaneously sent tothe Department using the address on page 128.

Requests for additional clarification are not anopportunity for a school to provide additionalsupporting documentation or to submitadditional allegations. The requests areallowed solely for a school to gain clarificationbased on information that was timely submittedas a part of the adjustment process.

Step 7. Within 5 working days of receiving the last response

to ALL of the schools new data allegations, decidehow to proceed.

A school should withdraw from the new dataadjustment process if it is convinced that thereare not any incorrect new data in its officialcohort default rate calculation;

OR

A school should continue with the new dataadjustment process if the response(s) receivedfrom the relevant entity(ies) indicates that achange is warranted.

Even if the guaranty agency/Direct Loan serviceragrees that a change is warranted, the school muststill submit its new data adjustment to theDepartment only the Department can confirm andmake the recommended changes to the school's

official cohort default rate.

How long does aguaranty agency/DirectLoan servicer have torespond to a school'ssubsequent inquiry?

A guaranty agency/Direct Loan servicer has 5working days to responda school's subsequentinquiry.

Please refer to the sectionentitled "Information for

Guaranty Agencies onAdjustments/Appeals" onpage 353 for moreinformation about responsto a school's subsequentinquiry.


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Step 8. Notify the Department whether the school is

withdrawing from the adjustment process orcontinuing with the adjustment process.

If the school wants to withdraw its new dataadjustment, within 5 working days of receivingthe last response to ALL of its new dataallegations, notify the Department in writingthat the school is withdrawing its new dataadjustment.

Please refer to the "Withdrawing anAdjustment/Appeal" section on page 329.

If a school is subject to initial loss of eligibilityto participate in the FFEL Program and/or

Direct Loan Program and the school's appealof that loss is unsuccessful, the school will beliable for certain costs associated with FFEL

Program loans certified and delivered andDirect Loan Program loans originated anddisbursed by the school. A school's period ofliability with regard to these costs begins 30calendar days after the school receives noticethat it is subject to initial loss of eligibility toparticipate in the FFEL Program and/or DirectLoan Program. The period of liability ends

upon the earlier of the withdrawal of theschool's adjustment/appeal, the resolution ofthe school's adjustment/appeal, or the 45th

calendar day after the date the schoolsubmitted its completed adjustment/appeal tothe Secretary for review.1

OR

If the school wants to continue with the newdata adjustment process, it must:

v submit the new data adjustment to theDepartment within 5 working days ofreceiving the last response to ALL of itsnew data allegations using the addresson page 128;

1 HEA Section 435(a)(2)(A) and 34 CFR Section 668.17(b)(ii)


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OR

v submit the new data adjustment with atimely initiated and submitted erroneousdata AND/OR improper loan servicing

and collection appeal.

If a school is submitting both a new dataadjustment AND an erroneous dataAND/OR an improper loan servicing andcollection appeal, it may submit theadjustments/appeals simultaneously bythe latter of:

within 5 working days of receiptof the last response to ALL of the

schools new data allegations;

OR

within 5 working days of receiptof the last response to ALL of theschools erroneous dataallegations;

OR

within 30 calendar days ofreceipt of the last response toALL of the schools requests forloan servicing records.

Step 9. Within the time frames described in Step 8, if the

school has decided to continue with the new dataadjustment process, a school must compile a list ofthe new data allegations for which the relevantentities agreed that a change was warranted.

A school should refer to the Sample New DataAdjustment SPREADSHEET and SPREADSHEETINSTRUCTIONS on pages 139 and 138, respectively,to assist in developing the list.

Step 10. Within the time frame described in Step 8, submitthe following to the Department using the address onpage 128:

Due date for

submitting theadjustment tothe

Department.

Please referto page 139for a

samplelist.Example


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for a samplenew dataallegations

response.

a letter requesting a new data adjustment;

A school should refer to the Sample New DataAdjustment LETTER on page 140 to developthe letter.

the New Data Adjustment SPREADSHEET asdescribed in Step 9;

AND

copies of the guaranty agency/Direct Loanservicer NEW DATA ALLEGATIONSRESPONSES indicating that changes arewarranted to the new data allegationspresented by the school.

If a school fails to timely submit its new dataadjustment to the Department's Default ManagementDivision, the Department will not review theadjustment and will return all adjustment-relatedmaterial to the school.

The following page provides an overview of the MATERIAL thatshould be included in a schools new data adjustment.


for a sample

letter.

Example

Example

Note


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Within the timeframes described in Step 8 on page 124, the followingMATERIAL, to support a new data adjustment, should be sent to theDepartment's Default Management Division at the address shown on page128.


A LETTER on the schools letterhead with

the schools OPE ID number; a statement indicating that the school is submitting a new data

adjustment;

a reference to the applicable cohort default rate (in this case FY1998);

a list of the other adjustments/appeals the school intends tosubmit to the Department;

the signature of the schools President/CEO/Owner, followed bya signature block providing the signers name and job title;

AND

a notation that a copy of the letter and spreadsheet will be sent tothe relevant guaranty agency/Direct Loan servicer.

Schools only need to send a copy of the letter and spreadsheetof the new data adjustment to the relevant guarantyagency/Direct Loan servicer.

Schools should refer to the Sample New Data AdjustmentLETTER on page 140.


A SPREADSHEET of ALL of the schools new data allegations forwhich the guaranty agency(ies)/Direct Loan servicer indicated achange is warranted.

Schools should refer to the Sample New Data AdjustmentSPREADSHEET and SPREADSHEET INSTRUCTIONS on pages139 and 138, respectively, to assist in creating the list.


Copies of the guaranty agency/Direct Loan servicer's New DataAdjustment RESPONSES confirming that a change is warranted to thenew data.

Schools should refer to pages137 for a Sample New Data AllegationRESPONSE.

The Department will review only the information submittedwith the new data adjustment and will not considerinformation submitted after the applicable deadline. TheDepartment will send the school and each involved entitywritten notification of its decision. The Departmentsdecision is final and no further administrative review isprovided.

Tab 1

Tab 2

Tab 3

Note


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If sent by commercial overnight mail/courier delivery, send the

schools new data adjustment to:

U.S. Department of EducationDefault Management Division

ATTN: New Data AdjustmentPortals Building, Room 63001250 Maryland Avenue, SWWashington, DC 20024

If sent by U.S. Postal Service, send the schools new dataadjustment to:

U.S. Department of EducationDefault Management DivisionATTN: New Data AdjustmentPortals Building, Room 6300400 Maryland Avenue, SWWashington, DC 20202-5353

The Department will not accept any adjustmentcorrespondence by facsimile (fax) or e-mail.

The Department recommends that a school send all adjustmentcorrespondence return receipt requested or via commercialovernight mail/courier delivery. This will be useful to a school if it isasked to authenticate the timeliness of its adjustment. A schoolshould maintain the documentation which verifies the receipt of theadjustment related material. In addition, a school should retaincopies of all documentation submitted as a part of the adjustmentprocess.

Note


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Part II of the "New Data Adjustment" section outlines a situation inwhich a school would benefit from submitting a new dataadjustment. This part also provides sample material that should bereferenced by a school when compiling the material that must besubmitted by a school during the new data adjustment process.

CONTENT REFERENCE FOR PART II

EXAMPLE of a situation that warrants the submission of

New Data Allegations ........................................................................130

Sample LOAN RECORD DETAIL REPORTS .................................131

New Data Allegations SPREADSHEET INSTRUCTIONS ............132

Sample New Data Allegations SPREADSHEET.............................133

Sample New Data Allegations LETTER...........................................134

Sample New Data Allegations SUPPORTING

DOCUMENTATION ...........................................................................135

EXAMPLE of a situation that warrants the submission of aNew Data Adjustment........................................................................136

Sample New Data Allegations RESPONSE ....................................137

New Data Adjustment SPREADSHEET INSTRUCTIONS ............138

Sample New Data Adjustment SPREADSHEET ............................139

Sample New Data Adjustment LETTER...........................................140

PART II: Examples andSample Material


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EXAMPLE of a situation that warrants the submission of New Data Allegations

School of Business received notification of its FY 1998 official cohort default rate on September28, 2000. The schools notification did NOT include a hardcopy of its FY 1998 official cohortdefault rate loan record detail report.

Within 10 working days of receiving its FY 1998 official cohort default rate notification letter, theschool logged onto NSLDS and requested its FY 1998 official loan record detail report and by thenext business day received its FY 1998 official loan record detail report in its Title IV WANmailbox.

Within 10 working days of receiving its FY 1998 official loan record detail report, the school:

compared its FY 1998 official loan record detail report with its FY 1998 draft loan recorddetail report (please refer to the sample LOAN RECORD DETAIL REPORTS on page 131)and identified two situations that would be considered new data in each situation, theschool believed the newly reported data was incorrect;

According to the FY 1998 draft loan record detail report, Ted Loman wasincluded in the report as a non-defaulted loan and Vickie Burleson was not

included in the report at all. However, after receiving the FY 1998 official loanrecord detail report, the school discovered that Ted Lomans loan was nowmissing from the report and Vickie Burleson's loans were included in the report.The school believes that Teds loan should be included in the FY 1998 officialcohort default rate calculation based on a January 16, 1998 date enteredrepayment and that Vickies loans should be removed from the FY 1998 officialcohort default rate calculation based on an August 18, 1999 date enteredrepayment.

prepared a SPREADSHEET that identified Ted and Vickies loans and provided what theschool believed was the correct information that should be associated with the loans (pleaserefer to the Sample SPREADSHEET on page 133);

made a copy of the pages of the FY 1998 DRAFT LOAN RECORD DETAIL REPORT thatshowed Teds loan was reported as a non-defaulted loan and Vickies loans were notreported and also made a copy of the pages of the FY 1998 OFFICIAL LOAN RECORDDETAIL REPORT that showed that Teds loan was not reported and Vickies loans werereported as defaulted loans (please refer to the Sample pages of the draft and official LOANRECORD DETAIL REPORTS on page 131);

made a copy of the letter sent to the State Guaranty Agency in August, 1997 asking toupdate Teds last date of attendance and included proof that State Guaranty Agency wastimely notified of Teds last date of attendance the school did not provide anydocumentation to support Vickie's last day of attendance (please refer to the SampleSUPPORTING DOCUMENTATION on page 135);

AND

prepared a LETTER for the State Guaranty Agency, which is the entity that currentlymaintains the guaranty on Ted and Vickies FFEL Program loans, requesting clarification onthe inaccuracies in the new data noted by the school (please refer to the Sample LETTER onpage 134).

On October 3, 2000, School of Business mailed the MATERIAL return receipt requested to theState Guaranty Agency at the address found in Appendix A and sent a copy of the cover letterand spreadsheet to the Departments Default Management Division at the address found on page128.


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32/40


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Sample New Data AllegationsSPREADSHEET

10/03/2000

Sendtotherelevantentity

Page

1of1

at

theaddresslocatedin

"AppendixA".

8.Effect

onCDR

calc.

(N,D,

orB)

+D

-B +B

-B +B

7.FY(s)

appl.

FY1998

FY1998

FY1999

FY1998

FY1999

6.CPD

DD,ICRD,

orN/A

(MM/DD/CCYY)

or(MM/CCYY)

N/A

09/20/2000

09/20/2000

5.Date

entered

repayment

(DER)

(MM/DD/CCYY)

01/16/1998

08/18/1999

08/18/1999

4.Earlier

ofLDA

orLTH

(MM/DD/CCYY)

07/15/1997

02/17/1999

02/17/1999

3.Number

andtype

ofloan

(Usecodes

oninstructions)

1SF

1SF

1SU

2.Borrower's

Name

TedLoman

VickieBurleson

VickieBurleson

1.Borrower's

SSN

111-11-1111

222-22-2222

222-22-2222

SchoolofBusiness

OPEIDNumber:111

222

Guarantor/ServicerCode:111

StateGuarantyAgency

Numberofborrowers

:2

Numberofloans:3

Note:Thisisasampl

spreadsheet.Seeinstructionson

page132

FY1998Ne

wDataAllegations


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Sample New Data Allegations LETTER

.

October 3, 2000

State Guaranty Agency OPE ID#: 111222Guarantor/Servicer Code 111ATTN: Bob Bowen1234 Trueman RoadLusby, North Carolina 98765-4321

Dear Mr. Bowen:

School of Business, OPE ID# 111222, is submitting a list of new dataallegations for review by State Guaranty Agency.

Please see the enclosed spreadsheet, relevant pages of the draft and

official loan record detail reports, and supporting documentation.

Sincerely,

Robert Young, President

Enclosures

cc: U. S. Department of Education, Default Management Division

Subject: FY 1998 New Data Allegations

School of Business1212 Wedgewood LaneLeonardtown, Wisconsin 12345-6789

(123) 456-7890

Sample Letter


35/40



Sample New Data Allegations SUPPORTING DOCUMENTATION

August 3, 1997

State Guaranty Agency OPE ID#: 111222Guarantor/Servicer Code 111ATTN: Bob Bowen1234 Trueman RoadLusby, North Carolina 98765-4321

Dear Mr. Bowen:

School of Business, OPE ID# 111222, wishes

to inform State Guaranty Agency that the lastdate of attendance for Ted Loman (111-11-1111) is July 15, 1997.

Thank you.

Sincerely,


Subject: Updated LDA

School of Business1212 Wedgewood LaneLeonardtown, Wisconsin 12345-6789

(123) 456-7890

Sample Letter

AAUUGG

44

11999977


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EXAMPLE of a situation that warrants the submission

of a New Data Adjustment

School of Business received its last response from the State Guaranty Agency to allof its new data allegations on October 22, 2000.

Within 5 working days of receiving the response from the State Guaranty Agency,

the school:

reviewed the State Guaranty Agency New Data Allegations Response indicatingthat the State Guaranty Agency agreed that Ted Loman should be added to theFY 1998 official cohort default rate. State Guaranty Agency disagreed thatVickie Burleson should be removed from the school's FY 1998 official cohortdefault rate (please refer to the Sample NEW DATA ALLEGATIONSRESPONSE on page 137);

prepared a spreadsheet that identified Teds loan and the date the guarantyagency agreed that a change was warranted School of Business did not

submit Vickies allegations because State Guaranty Agency did not agree withthe school and because new data allegations may only be submitted to theDepartment for review if the guaranty agency agrees that a change is warranted(please refer to the Sample SPREADSHEET on page 139);

made a copy of the State Guaranty Agency New Data Allegations Responseshowing that State Guaranty Agency indicated that Teds loan should be addedto the FY 1998 cohort default rate calculation based on a January 16, 1998 dateentered repayment (please refer to the Sample NEW DATA ALLEGATIONSRESPONSE on page 137);

AND

prepared a letter to the U.S. Department of Education's Default ManagementDivision for its new data adjustment (please refer to the Sample New DataAdjustment LETTER on page 140).

On October 25, 2000, School of Business mailed the MATERIAL via commercialovernight mail to the Departments Default Management Division at the address onpage 128. In addition, School of Business sent a copy of the letter and spreadsheetassociated with its new data adjustment to the State Guaranty Agency.


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Sample New Data Allegations RESPONSE

October 20, 2000

Robert Young OPE ID#: 111222PresidentSchool of Business1212 Wedgewood LaneLeonardtown, Wisconsin 12345-6789

Dear Mr. Young:

This is State Guaranty Agency's response to School of Business', OPE ID# 111222, FY 1998 new

data allegations received on October 6, 2000.

Please see the enclosed spreadsheet and supporting documentation.

Sincerely,

Bob Bowen, Compliance Officer

Enclosures

cc: U.S. Department of Education, Default Management Division

Subject: FY 1998 New Data Allegations Response

State Guaranty Agency1234 Trueman RoadLusby, North Carolina 98765-4321

(111) 222-3333

Sample Letter


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New Data Adjustment SPREADSHEET INSTRUCTIONS

Description

DirectLoanSubsidizedStaffordLoan

DirectLoanUnsubsidizedStaffordLo

an

FFELSubsidizedStaffordLoan

FFELSupplementalLoansforStudentLoan

FFELUnsubsidizedStaffordLoan

LoanTypeCodes

Code

D1

D2

SF

SL

SU

Onlyth

eallegationslistedontheschools

spread

sheetwillbereviewed.

OnRow1,enterexactlyth

esamecolumnnamesinexactlythe

sameorderaslistedonthesamplespreadsheet.Ensurethat

columnnamesappearatthetopofeachpage.

OnRow2andbelow,includethefollowingdataforeachloanfo

whichtheschoolisreques

tinganadjustment:

Recordallloans,from

ALL

guarantyagencies/DirectLoan

servicer,forwhichtheschoolisrequestinganewdata

adjustmentusingaspread

sheetsoftwareapplicationsuchas

ExcelorLotus1-2-3.

Thespreadsheetshouldb

eon8x11paperinalandscape

(horizontal)layout.Asam

plespreadsheetfollowsthese

instructions.

Header:

EnterFY1998New

DataAdjustmentinthe

centero

ftheheaderarea.Intheleft-hand

area,en

tertheschoolsname,theschools

OPEID

number,andthenumberofborrowers

andloansassociatedwiththerequest.

Footer:

Enterth

edatetheadjustmentwaspreparedin

theleftsideofthefooterarea.Setup

automaticpaginationintherightsideofthe

footera

reasothatthespecificpagenumber

andthe

totalnumberofpagesshowoneach

page,fo

rexample:page1of10pages.

Sort:

Thebor

rowerslistedonthespreadsheet

shouldbesortedby:

1.

Guarantor/servicercodeassociatedwith

the

entityresponsiblefortheloan;

2.

Bor

rowersSocialSecuritynumber.

Column1:

Enterthe

borrowersSocialSecuritynumber(SS

N)using

hyphenstoseparatethenumbers(forexample,

000-00-

0000)

Ifaborrowerhasmultipleloans,eachloanwhichshould

beadjustedmustbelistedonthespreadsheet.

Column2:

Enterthe

borrowersname.

Column3:

Enterthe

numberofloansandloantype(s).Usethe

following

codestoidentifythetypeofloan.

Column4:

EnterMM/DD/CCYY(month,dayandyear)to

identifyt

hedatethedataerrorwasacknowledged

bytheguarantyagency/DirectLoanserviceras

a

resultof

theschool'snewdataallegations.

Column5:

Entertheguarantor/servicercodeoftheentitythat

agreedthatincorrectnewdataexistintheofficial

loanrecorddetailreport(foundin"AppendixA"

)


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Sample New Data Adjustment SPREADSHEET

11/09/2000

sendtoU.S.DepartmentofEducation's

Page1of1

DefaultManagement

Divisionattheaddresslistedonpage

128.

Note:Thisisasamplespre

adsheet.

(Seeinstructionsonpage138.)

5.Codeforthe

entitythatacknowledged

incorrectnewdataerro

r

(SeeAppendix

Aforcodes)

111

4.Dateincorr

ect

newdataerr

or

wasacknowledged

byguarantyage

ncy/

DirectLoanser

vicer

10/20/2000

3.Number

andtypeof

loan(s)

(Usecodesprovided

ininstructions)

1SF

2.Borrower's

Name

TedLoman

1.Borrower's

SSN

111-11-1111

FY1998N

ewDataAdjustment

SchoolofBusines

s

OPEID111222

Numberofborrow

ers:1

Numberofloans:

1


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Sample New Data Adjustment LETTER

October 25, 2000

U.S. Department of Education OPE ID#: 111222

Default Management DivisionATTN: New Data AdjustmentPortals Building, Room 6300400 Maryland Avenue, S.W.Washington, D.C. 20202-5353

Dear Default Management Division:

School of Business, OPE ID#111222, wishes to request a new dataadjustment to its FY 1998 official cohort default rate.

Please see the enclosed spreadsheet and the copies of the new data

adjustment responses.

School of Business has also submitted an uncorrected dataadjustment to the Department for review.

Thank you for your consideration.

Sincerely,


Enclosures

cc: State Guaranty Agency

Subject: FY 1998 New Data Adjustment

School of Business

1212 Wedgewood LaneLeonardtown, Wisconsin 12345-6789

(123) 456-7890

Sample Letter

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