This guide is intended to provide the student loan industry with information on how cohort default rates are calculated for originating lenders, current lenders, and guaranty agencies participating in the Federal Family Education Loan Program. The guide notes that fiscal year 1995 data will be calculated based on data reported to the National Student Loan Data System by the guaranty agencies, and will include: subsidized Federal Stafford, unsubsidized Federal Stafford, Federal Supplemental Loan for Students (SLS), and Federal consolidation loans used to repay Stafford or SLS loans. Sections of the document provide the formula for calculating 1995 cohort default rates; a Department of Education contact list; information on how to correct cohort default rates; information about back-up data printouts; a list of guaranty agencies; and a set of commonly asked questions with answers. (JLS)