Information for

Guaranty Agencies
on Monthly Status
Reports

How does a guaranty agency notify the

Department about the status of a school's
adjustment/appeal request?
A guaranty agency must send the U.S. Department of Education
(Department) a copy of its response to a school’s request at the
same time it sends out the response to the school. Please refer to
the “Information for Guaranty Agencies on New Data Response”,
“Information for Guaranty Agencies on Erroneous Data Response”,
and “Information for Guaranty Agencies on Improper Loan
Servicing and Collection Response” sections beginning on pages
347, 361, and 377, respectively, for guidance on how to respond to
a school's new data adjustment, erroneous data appeal, and
request for loan servicing records.

In addition to sending the Department a copy of the adjustment/

appeal-related correspondence sent to a school, each guaranty
agency should provide the Department with a monthly status report.
The monthly status report is a cumulative list of cohort-default-rate-
related requests that guaranty agencies receive from schools after
the release of the official cohort default rates. These status reports
will also assist the Department in monitoring the time frames
associated with the cohort default rate adjustment/appeal process.

The monthly status report should be sent to the Department using

the address on page 341 within 5 working days of the end of each
month. For example, the status report for October 2000 should be
sent by November 7, 2000.

FY 1998 Official Cohort Default Rate Guide Page 339

Monthly Status Reports Information for Guaranty Agencies on Adjustments and Appeals

What does the monthly status report include?

The report should be a cumulative listing of all cohort-default-rate-
related requests, including subsequent letters received from the
school and subsequent responses made by the agency. The report
should include:

♦ OPE-ID number of the school making the request;

♦ school's name;

♦ type of request;

♦ fiscal year to which the request applies;

♦ date the school's request was postmarked;

♦ date the agency received the request;

♦ date the agency responded to the school;

♦ type of delivery service used to mail the response to

the school;

♦ tracking number associated with delivery of the

response to the school;

♦ date the school received the response;

AND

♦ comments, if needed.

Guaranty agencies should refer to the Sample Monthly Status

Report SPREADSHEET and SPREADSHEET INSTRUCTIONS on
pages 343 and 342, respectively, to assist in developing the report.

A guaranty agency should NOT submit copies of its responses to

schools' requests with its monthly report. Copies of its responses
should be sent to the Department at the same time it sends its
response to the school.

Page 340 FY 1998 Official Cohort Default Rate Guide

Information for Guaranty Agencies on Adjustments and Appeals Monthly Status Reports

If the guaranty agency does NOT receive any requests from

schools, it should submit a blank monthly status report to the
Department indicating that it has not received any cohort-default-
rate-related requests.

Once the agency has responded to all of the requests received and
the guaranty agency has not received any subsequent requests,
the guaranty agency should send the Department an updated
status report marked "FINAL". After the guaranty agency sends the
Department the final report, the guaranty agency does not need to
send any more monthly status reports until the draft cohort default
rates are released.

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

monthly status report and all copies of letters sent to school's
regarding the school’s cohort default rate to:

U.S. Department of Education

Default Management Division
ATTN: Guaranty Agency Responses
Portals Building, Room 6300
1250 Maryland Avenue, SW
Washington, DC 20024

If sent by U.S. Postal Service, send the monthly status report and
all copies of letters sent to schools regarding the school’s cohort
default rate to:

U.S. Department of Education

Default Management Division
ATTN: Guaranty Agency Responses
Portals Building, Room 6300
400 Maryland Avenue, SW
Washington, DC 20202-5353

FY 1998 Official Cohort Default Rate Guide Page 341

Page 342
Record all schools' cohort default rate requests using a
spreadsheet software application such as Excel or Lotus 1-2-3.
The resulting spreadsheet is sent to the Department.
The spreadsheet should be on 8 ½’’ x 11" paper in a landscape
(horizontal) layout. A sample spreadsheet follows these
instructions.
Header: Enter Monthly Status Report for FY 1998
Official Cohort Default Rates in the center of
the header area. In the left-hand area, enter the
name of the guaranty agency and the three digit
guarantor code.
Footer: Enter the date the spreadsheet was prepared in
the left side of the footer area. Set up automatic
pagination in the right side of the footer area so
that the specific page number and the total
number of pages show on each page, for
example: page 1 of 10 pages.
Sort: The report should be a cumulative listing of all
cohort-default-rate-related requests in order by
the school's OPE ID number.
On Row 1, enter exactly the same column names in exactly the
same order as listed on the sample spreadsheet. Ensure that
column names appear at the top of each page.
On Row 2 and below, include the following data for each school
that has requested cohort-default-rate-related information.
FY 1998 Official Cohort Default Rate Guide
Column 1: Enter the school’s six-digit OPE ID number.
Monthly Status Reports
Column 2: Enter the school’s name.
Column 3: Enter the type of request. Use ND (new data
allegations), ER (erroneous data allegations) or
LS (request for loan servicing records)
Column 4: Enter the fiscal year(s) of the request. Use
1996, 1997, and/or 1998 to identify the
applicable fiscal year(s).
Column 5: Enter MM/DD/CCYY (month, date, year) to
identify the date the school’s request was
postmarked.
Column 6: Enter MM/DD/CCYY to identify the date the
guaranty agency received the school’s request.
Column 7: Enter MM/DD/CCYY to identify the date the
guaranty agency mailed a response to the
school (postmark date).
Column 8: Enter type of service delivery (i.e. Federal
Express, U.S. Postal Service, Airborne Express,
etc.) the guaranty agency used to deliver its
response to the school.
Column 9: Enter the tracking number assigned to the
response by the delivery service.
Monthly Status Report SPREADSHEET INSTRUCTIONS
Column 10: Enter MM/DD/CCYY to identify the date the
school signed for the response from the
guaranty agency.
Column 11: Enter comments in this column, if needed.
Information for Guaranty Agencies on Adjustments and Appeals
 State Guaranty Agency Monthly Status Report for
Note: This is a sample
111 FY 1998 Official Cohort Default Rates spreadsheet. See instructions
on the previous page.

1. School's 2. School's 3. Type 4. Fiscal 5. Date the school's 6. Date the 7. Date the 8. Servicer 9. Tracking 10. Date the school 11. Comments,

OPE ID Name of year(s) request was agency received guaranty type Number signed for the if needed

number request postmarked the request agency response from the

mailed response guaranty agency

FY 1998 Official Cohort Default Rate Guide

(MM/DD/CCYY or leave blank) (MM/DD/CCYY or leave blank) (MM/DD/CCYY or leave blank) (MM/DD/CCYY or leave blank)

000030 Electrical Institute ER 1998 10/02/2000 10/04/2000 10/14/2000 Federal Express 999 999 9999 10/17/2000 Initial response

000040 Technology School LS 1998 10/04/2000 10/06/2000 10/20/2000 Airbourne 888 888 8888 10/23/2000 Request for payment
Information for Guaranty Agencies on Adjustments and Appeals

000040 Technology School LS 1998 10/04/2000 10/06/2000 11/18/2000 U.S. Express Mail 777 777 7777 11/19/2000 Records submission

000060 Cosmetology School ND 1998 10/04/2000 10/06/2000 10/27/2000 UPS 444 444 4444 10/30/2000 Initial response

000060 Cosmetology School ND 1998 11/01/2000 11/02/2000 Supplemental request

000070 Forrest University ER 1996/1997/1998 10/06/2000 10/10/2000 Initial request

111222 School of Business ND 1998 10/03/2000 10/05/2000 10/20/2000 UPS 666 666 6666 10/23/2000 Initial response
Monthly Status Report Sample SPREADSHEET

12/01/2000 [send to the U.S. Department Page 1 of 1

of Education using the address
shown on page 341.]
Monthly Status Reports

Page 343
Monthly Status Reports Information for Guaranty Agencies on Adjustments and Appeals

Page 344 FY 1998 Official Cohort Default Rate Guide