To be exempt from the 30-day delay of first disbursement for first-time loan borrowers, the institution's Cohort Default Rate (CDR) must be below what threshold for the three most recent fiscal years?

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Multiple Choice

To be exempt from the 30-day delay of first disbursement for first-time loan borrowers, the institution's Cohort Default Rate (CDR) must be below what threshold for the three most recent fiscal years?

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