What role does a guaranty agency/Direct Loan servicer have in an uncorrected data adjustment?
A guaranty agency/Direct Loan servicer is not directly involved in a school s uncorrected data adjustment. After the release of the official cohort default rates, a school s uncorrected data adjustment is submitted directly to the Department s Default Management Division. The Department adjusts the school s cohort default rate according to the correctly agreed upon changes noted by the guaranty agency/Direct Loan servicer during the draft data challenge process. The uncorrected data adjustment is NOT based on information received from a guaranty agency/Direct Loan servicer after the release of the official cohort default rates. What role does the Department have in a school s uncorrected data adjustment? The Department is responsible for reviewing a school’s uncorrected data adjustment submitted after the release of the official cohort default rates. In reviewing the adjustment If the Department determines that a guaranty agency/Direct Loan servicer correctly agreed to make a change to
