enrollment reporting. agenda what is enrollment reporting? why does it matter? process possible...

Enrollment Reporting

Agenda

What is enrollment reporting? Why does it matter? Process Possible effects of non-reporting Impact on cohort default rates Common errors Best practices

What is Enrollment Reporting?

Requirement for schools♦ Students receiving federal loans

Determines student’s eligibility:♦ Deferment♦ Grace♦ Repayment

Data used by ED for cohort default rates

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Why Does it Matter?

Impact on borrowers Impact on cohort default rate Decrease workload Improve data quality

If a student is currently enrolled and receives notice of being in repayment, what office on campus is he/she most

likely to go to for answers?Financial Aid Office

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NSLDS Reporting

What does NSLDS do?

♦ Maintains the official enrollment data

How often does ED recommend reporting enrollment information?♦ Monthly

Why is effective enrollment reporting important?♦ Reduces risk of default

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NSLDS Data Content*

http://www.ifap.ed.gov/*As of June 2007

Students 60,486,450

Loans 230,651,154

Grants 62,173,603

Schools 18,775

School campuses 39,698

Lenders 31,610

Guarantors 62

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NSLDS Identifier Conflicts

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Number of Identifier Conflicts per Month

Jan 2006 12,708

Feb

2006 12,691

Mar

2006 12,714

Apr

2006 12,623

May

2006 12,464

Jun 2006 12,601

Jul 2006 12,835

Aug

2006 13,208

http://www.ifap.ed.gov/

First name

Date of birth

SSN

2007 Top NSLDS Errors

1. Date of student’s birth - 12,7402. Date enrollment period begins - 11,672 3. Student’s Social Security number - 8,4994. Date enrollment status effective - 8,270 5. Date of disbursement - 8,057

8http://www.ifap.ed.gov/

Who is Correcting Data?

Guarantors Lenders Schools

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EdFund Efforts

For fiscal year 2006 ♦ 37,009 defaulted borrower accounts were

reviewed• 1605 had been placed in the wrong cohort year

♦ 1662 death claims were reviewed• 742 were placed in incorrect cohort year

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School Efforts

Accurate borrower contact information Accurate enrollment changes Timely enrollment reporting

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Roster files

Submittal files

Acknowledgment/error files

Error correction files

Enrollment data

Schools or school servicers

Guaranty agencies, Direct Loan servicer, and lenders

NSLDSdatabase

Enrollment Submittal Process

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Roster Field Names

Field Name

Student’s SSN

Student’s SSN indicator

Student’s last name

Student’s first name

Student’s middle initial

Date of student’s birth

Date of anticipated completion

Code for enrollment status

Date enrollment status effective

School identification designator

Ten Fields:

• Nine mandatory• One optional

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Enrollment Reporting

How do students get on a school’s enrollment reporting roster file?♦ Reporting of a loan ♦ Reporting of an ACG or SMART Grant ♦ School adds student to a roster

Frequency♦ Controlled by the school♦ ED recommends monthly reporting

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Guaranty Agency

Lender/Servicer

Clearinghouse

DL Servicer

Online

School Software

EDExpress

SSCR Servicer

NSLDS

SCHOOL

Enrollment Reporting Flow Process

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Impact on Date Entered Repayment

Enrollment effective date is used to drive DER

DER is loan-based, not student-based

Guarantor DER calculation: Grace period = Separation date + 6 monthsDER = Grace period + 1 dayUpon repayment, DER does not change

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Non-Reported Enrollment Changes

Possible effects ♦ Loan converted to repayment early♦ Loan entering repayment delayed♦ Borrower unknowingly enters grace period

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Possible Effects of Non-Reporting

CY 2007

CY 2008

10/1/06 9/30/07 Feb-09

Draft rate

Sep-09

Official rate

9/30/08

Sep-109/30/08 Feb-10

Draft rate

Official rate

9/30/0910/1/07

Student withdraws from school A on 10/15/2006

Student re-enrolls in school B on 01/27/2007

Loan converted to repayment early based on W. DER = 04/16/2007 INCORRECT CY

Based on graduation date of 12/31/2007, then DER = 07/01/2008 CORRECT CY

Student graduates on 12/31/2007

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Impact on Cohort Default Rates

Frequency Fields Rates Adjustments

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Enrollment Information

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Loan Information

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GA calculates the DER

Lender updates loan status

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Enrollment Change ScenarioStudent Enrolls Below Half-time

School reports Lender receives enrollment status Loan status:

L

IA to IG

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Enrollment Change ScenarioStudent Re-enters School Full Time School reports Lender receives enrollment status Loan Status:

F

RP to DA

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Joe officially withdraws from school early in the spring semester (February 15).

The school’s next roster is not scheduled until after spring graduation on June 1.

What should the FAA do about Joe’s early withdrawal?

Enrollment Reporting Scenario

Solution: School should do a manual update on NSLDS (Web).

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Mary withdraws from school midway through the fall semester (October 25).

The school uses the default reporting schedule (every 2 months). The next reporting roster is due November 1.

What should the FAA do about Mary’s withdrawal?

Enrollment Reporting Scenario

Solution: School may either do a Web update or wait for the

upcoming November enrollment reporting. 29

Common Errors: Case One

DER on NSLDS = 10/01/2006Based on DER, CY = 2007

*Date Entered Repayment (DER)**Anticipated Completion Date (ACD)

Solution:Report Effective Date for the W status

DER was calculated using the ACD

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Best Practices

Identify campus enrollment data provider Become familiar with campus enrollment

reporting process Develop ways to prevent, track and

correct data errors Practice timely and accurate enrollment

reporting

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Best Practices

Review NSLDS Date Entered Repayment (DER) report

Use tracking systems Review withdrawal process Make use of the resources available

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Thank you for attending

Mike Stein

301.231.7557

mstein@edfund.org