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