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Which types of loans are included in the cohort default rate calculation?

April 26, 2017calculation cohort Default included Loans rate types

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Which types of loans are included in the cohort default rate calculation?

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A. The Federal Family Education Loans (FFELs) included in the cohort default rate calculation are • Subsidized FFEL and Unsubsidized FFEL (collectively referred to as FFEL) and • Federal Supplemental Loans for Students (Federal SLS loans). Federal SLS loans have not been made since July 1, 1994. However, it is possible for a Federal SLS loan to be included in a current cohort default rate calculation under certain circumstances. The Direct Loans included in the cohort default rate calculation are • Federal Direct Subsidized William D. Ford Loans and Federal Direct Unsubsidized William D. Ford Loans (collectively referred to as Direct Loans). Federal Consolidation Loans and Federal Direct Consolidation Loans are not directly included in the cohort default rate calculation. However, the status of a consolidation loan may affect the cohort default rate calculation.