Default Management Plans and Methods

Default Management Plans

Default Prevention for Schools

The Michigan Guaranty Agency created the Default Prevention for Schools model to help each school develop a comprehensive default prevention plan.

Mandatory Default Management Plans

An overview and direct reference to the mandatory regulation for schools to have a default management plan. Provides links to samples and strategies.

Default Calculations and Methods

Federal Cohort Default Quick Reference Guide

The Cohort Default Rate Guide (Guide) is a comprehensive reference document that explains in detail how the Department of Education (Department) calculates a school's cohort default rate and how a school can:

1. correct the data that is used to calculate the rates, or
2. submit a challenge/appeal/adjustment.

Schools: Cohort Default Rate

Explains how a default rate is calculated for a school and the nuts and bolts of how and when a school should receive their official cohort default rate. Also describes the benefits of having a low cohort default rate.

Michigan Guaranty Agency Claims and Collections

An overview of how claims are filed and how default moneys are collected by the Michigan Guaranty Agency. Also includes a timeline of when a "Notice of Default" is filed and how students can rehabilitate their defaulted loans.

Default Aversion Strategies

Default Prevention Strategies

Describes the two methods schools can use most effectively in helping students avoid default:

1. Developing a Default Prevention Plan.
2. Developing a Late Stage Delinquency Process.

Return to Default Aversion Resources Database