UNITED STATES DEPARTMENT OF EDUCATION WASHINGTON, D.C. 20202 September 2019 UNIVERSITY OF MONTEVALLO OPE ID: 001004 PALMER CIRCLE FY 2016 Cohort Default Rate: 7.3 MONTEVALLO, AL 35115-6000 SUBJECT: FISCAL YEAR 2016 OFFICIAL COHORT DEFAULT RATE Dear President: This letter serves as official notification of your school's fiscal year (FY) 2016 official cohort default rate (CDR) data. According to the Higher Education Act of 1965 (HEA), as amended, the Higher Education Reconciliation Act of 2005 (HERA), Pub.L.109-71 and the Department's regulations, your school is not subject to any sanctions based on your school's FY 2016 CDR. Schools with a cohort default rate of less than 15.0 percent for each of the three most recent fiscal years for which data are available, including eligible foreign schools, may disburse, in a single installment, loans that are made for one semester, one trimester, one quarter, or a four-month period. Such a school is also no longer required to delay the delivery or disbursement of the first disbursement of a loan for 30 days for first-time, first-year undergraduate borrowers. Once your school receives notice from the Department that your school's official CDR is 15.0 percent or greater, this benefit will end within 30 calendar days of the notification. For schools that have one or more borrowers that entered into repayment during the FY 2016 period, the accompanying loan record detail report (LRDR) includes information on the loans made to students for attendance at your school under the Federal Family Education Loan (FFEL) Program and/or William D. Ford Federal Direct Loan (Direct Loan) Program. The U.S. Department of Education's (Department) records indicate that all the loans included in the report entered into repayment during the FY 2016 period that includes October 1, 2015 through September 30, 2016 and defaulted by September 30, 2018. After reviewing your official LRDR, your school has the opportunity to appeal and or adjust the underlying data included in your CDR. Schools must submit their Loan Servicing Appeal, Uncorrected Data Adjustment and New Data Adjustment requests using the electronic Cohort Default Rate Appeals system (eCDR Appeals). Specifically, the system allows schools to electronically submit these challenges and adjustment requests during the cohort default rate cycle. Likewise, data managers and Federal Student Aid (FSA) can electronically view and respond to the submitted challenges and adjustment requests accordingly. Schools must continue to submit their Participation Rate Appeal, Economically Disadvantaged Appeal, and Erroneous Data Appeal via hardcopy to the Department. Please note that if a technical problem caused by the Department results in an inability to access the data, schools have five business days from the receipt of the eCDR notification package to notify Operations Performance Division at the email address given below. All schools must meet the established submission timeframes for CDR adjustments and appeals. The Department will not review adjustments and appeals that any school submits outside of the established timeframes. If you have any questions about your FY 2016 official school CDR review process, please refer to our frequently asked questions at ifap.ed.gov/DefaultManagement/faq/FAQ.html. If you have further questions you may refer to the Cohort Default Rate Guide or contact the Operations Performance Division at (202) 377-4259 or via email at fsa.schools.default.management@ed.gov. You may also visit our website https://ifap.ed.gov/DefaultManagement/DefaultManagement.html where you may find the Cohort Default Rate Guide which is a primary reference source for schools to understand the cohort default rates and processes. Sincerely, Katrina Turner Service Director Operations Performance Management Services cc: Marcus DeCosta, Manager, Cohort Default Rate Operations Team Special note for schools with 29 or fewer borrowers entering repayment for the FY 2016 period: Please refer to page 2 of the Cohort Default Rate Guide for information regarding the average rate formula and calculation.