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Description: Tags: Pri
Description: Tags: Pri
Participation Rate
Index Challenge
QUALIFYING
QUALIFYING
Who is eligible to submit a participation
rate index challenge?
Any school, regardless of its cohort default rate, can submit a
participation rate index challenge if it can demonstrate that it has a
participation rate index equal to or less than 0.0375 for any of the
three most recent cohort periods (i.e., FY 1995, FY 1996, and FY
1997).
OR
1
HEA Section 435(a)(6)
2
HEA Section 435(a)(6)(A)
3
HEA Section 435(a)(6)(A)
♦ Not Acceptable:
TIMING
TIMING
What are the time frames for a school to
submit a participation rate index
challenge?
Timing is critical for a school when submitting a participation rate
index challenge. A participation rate index challenge must be
submitted to the Department of Education (Department) within 30
calendar days from the date a school receives its most recent draft
cohort default rate data.4 If a school fails to meet the statutory time
frames for the challenge, the Department will NOT review its
challenge.
4
HEA 435 Section(a)(6)(B)
SUBMITTING
SUBMITTING
How does a school calculate the
participation rate index?
The participation rate index (PRI) is calculated as follows:
Tab 1
The section behind Tab 1 contains:
AND
Tab 2
The section behind Tab 2 contains:
Technical School
1212 Commanche Lane
Leonardtown, Wisconsin 12345-6789
(123) 456-7890
Sincerely,
John Doe
[name and official title of President/CEO/Owner]
Enclosure
Page 67
Participation Rate Index Challenge
Page 68
FY [Year] Participation Rate Index Challenge
Sample FY 1997 25.0%
Sample 4/2/1995–4/1/1996
Participation Rate Index Challenge
Box A
Applicable Cohort Default Rate [A1] _____%
No. of Students Receiving FFEL/DL loans (reported in column 4) [A2] _____
1. Student's 2. Student's 3. Student's 4. If student received 5. Beginning dates and ending dates
SSN Name enrollment dates FFEL Program and/or of loan periods for FFEL or
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