Reminder: Provide Correct ‘Date Entered Repayment’ Information

USA Funds^® reminds lenders and lender-servicers to provide USA Funds with correct information about the date a borrower entered repayment on loans, particularly rehabilitated and repurchased loans. Supplying correct “date entered repayment” information for USA Funds to report to the National Student Loan Data System will help ensure proper calculation of cohort default rates.

NSLDS has noted that the date entered repayment on a loan must not change after the first time a borrower enters repayment — even if that loan has met the conditions for rehabilitation or is repurchased.

For more information about entering date entered repayment information in NSLDS, call lender relations toll-free at (800) 824-7044, or call Patty Redmond, business systems analyst, at (317) 598-4105.