CODAS

Are you using the right tools?

Recent changes to the Higher Education Act and other new “sunshine” laws have made it less feasible for lenders and guarantors to provide best-in-class services in support of higher education institutions. Most importantly, the change in the Cohort Default Rate (CDR) measurement from a two to a three-year cohort is likely to drive default rates to much higher levels.We partner with schools to deliver both data management and comprehensive case management services via our Cohort Default Aversion System (CODAS).

Data Management Services
i3 provides a variety of actionable data to higher education institutions, including contextualized information on cohort populations for the 2009 and 2010 cohort years. At a high level, we:

  • Obtain data on students from the school, lenders, and guaranty agencies to identify the cohort population for the school on a monthly basis;
  • Provide the cohort population to the school along with Best and Worst Case Scenario analysis based on Claims Filed and Paid; Claims Filed; Defaulted; and Late Stage Defaults; and
  • Locate the most current student name, address, telephone number, and verifies Social Security Numbers in addition to providing deceased and bankruptcy indicators. This data helps increase contact with students who have dropped out or have graduated.

CODAS - Case Management Hosting ServicesCODAS
CODAS is a proprietary system developed to help higher education institutions administer all aspects of the student loan management and aversion process.

Leveraging our internal case management platform, CODAS incorporates a custom and secure Web-based front-end interface that allows our higher education clients to service students internally. CODAS meets all pertinent data security requirements and is part of our FISMA-compliant architecture.

CODAS provides:

  • Data aggregation to identify and maintain the correct cohort population for loans and borrowers across multiple lenders/servicers, guarantors, and Direct Loans.
  • Reconciliation of NSLDS data and your school’s student information system.
  • Complete case management that allows your in-house team to perform, schedule, document, and evaluate the effectiveness of various contact strategies and workflows.
  • Standard and customized reports at the control of your school.