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Shedding Light on NSLDS

Shedding Light on NSLDS. Stephanie Wilson Senior Associate of School and Lender Services Missouri Department of Higher Education (800) 473-6757. Agenda. What is the National Student Loan Data System (NSLDS)? How loan, grant, and enrollment data reaches NSLDS

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Shedding Light on NSLDS

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  1. Shedding Light on NSLDS Stephanie Wilson Senior Associate of School and Lender Services Missouri Department of Higher Education (800) 473-6757

  2. Agenda • What is the National Student Loan Data System (NSLDS)? • How loan, grant, and enrollment data reaches NSLDS • How NSLDS data reaches the Institution Student Information Report (ISIR) • How to interpret NSLDS data • Updates to NSLDS from the Higher Education Reconciliation Act (HERA) 2005

  3. How to Obtain a User Id • To obtain an NSLDS user id access the following link: https://www.fsawebenroll.ed.gov/

  4. What is NSLDS? • Central Source of Federal Student Aid Data • loans, grants, and enrollment information

  5. How the Federal Student Aid Process Gets Started Free Application for Federal Student Aid (FAFSA) ISIR

  6. NSLDS Data • Federal Loan Data • Federal Family Education Loan Program Loans (FFELP) • William D. Ford Direct Loans • Federal Perkins Loans • Federal Grant Data • Pell Grants • Supplemental Educational Opportunity Grants (SEOG) • Academic Competitiveness Grant (ACG) [HERA 2005] • National Science and Mathematics to Retain Talent Grants (SMART) [HERA 2005] • Enrollment Data

  7. How Loan Data Reaches NSLDS • FFELP loans • Direct loans • Perkins loans

  8. FFELP Data and NSLDS • FFELP Loans • Guarantor establishes a schedule with NSLDS for loan data updates • MDHE updates NSLDS bi-weekly Lenders Report to Guarantors At Least Quarterly Guarantors Report Lender and Guarantor Held Data to NSLDS

  9. How Loan Data Reaches NSLDS • Direct Loans • Direct Loan transmits data to NSLDS weekly The William D. Ford Federal Direct Loan Program

  10. How Loan Data Reaches NSLDS • Perkins Loans • Schools establish a schedule with NSLDS to report loan data

  11. How Grant Data Reaches NSLDS • Pell, ACG, and SMART Grant data is transmitted to NSLDS by the U.S. Department of Education (USDE) weekly

  12. How Enrollment Data Reaches NSLDS • National Student Clearinghouse (NSC) feeds enrollment information to NSLDS weekly School’s Financial Aid OR Registrar’s Office

  13. How NSLDS Data Reaches the ISIR • NSLDS information is transferred to the ISIR when the FAFSA is filed or when an updated ISIR is distributed • Only information for up to 6 loans is displayed

  14. ISIR, Continued

  15. Group 1 – Includes loans in a deceased status - applicant is ineligible for additional aid. This ensures these types of loans have the highest priority when Financial Aid Administrators review ISIR information.Group 2 – Includes loans in a defaulted or fraud status - applicant is ineligible for additional aid. Includes the new fraud loan status code “FR”.Group 3 – Includes loans in an abandoned, disability, active bankruptcy, or temporary uninsured status - school must resolve before applicant is eligible for additional aid.Group 4 – Includes loans in any open status not reported in Groups 2 and 3. These statuses do not impact the applicant’s eligibility for additional aid.Group 5 – Includes closed loans not included in Groups 1, 2 and 3. NSLDS ISIR Information Continued

  16. ISIR Comment Codes • SAR Comment Codes and Text Guide www.ifap.ed.gov • Select the SAR/ISIR Reference Materials link • Select the applicable award year • Select the SAR Comment Codes and Text link • Guide advises school how to resolve issues that are preventing the awarding of future aid • Example: Pell Grant Overpayment

  17. How to Interpret NSLDS Data • Warning Icons • Aggregate Loan Table • Summary and Detail Pages

  18. NSLDS Warning Icons • Death • Default • Fraud [HERA2005] • Disability • Bankruptcy • Close to or Have Exceeded Aggregate Limits • Grant Overpayment

  19. Aggregate Loan Limits Table • Summarizes borrowing of individual so that school can prevent overawards • Includes Grad PLUS loans [HERA 2005]

  20. Lifetime Aggregate Loan Limits • Undergraduate • Dependent Students = $23,000 • Independent Students = $46,000 • No more than $23,000 Subsidized Stafford • Graduate • Stafford Limit = $138,500 • No more than $65,500 Subsidized Stafford

  21. Loan Summary and Detail • Summary gives basic information • Detail gives complete history of loan • Loan Status of GB and D3 new for Grad PLUS loans (as of Jan.07 on ISIR) [HERA 2005] • Fraud Loan Status “FR” [HERA 2005] • Military Deferment Loan Status “MO” [HERA 2005]

  22. Web Enhancements

  23. Interpreting the Summary Information • Guaranteed Amount = Approved Loan Amount • Disbursed Amount = Disbursed Amount Based on Disbursement Dates • OPB = Outstanding Principal Balance Amount with Capped Interest • Agg OPB = Aggregate Outstanding Principal Balance (Disbursed Principal Not Yet Repaid to Lender) • Loan Date = Guarantee Date • Sep Loan Date Indicator • Loan Period = Loan Period • Last Disb Date = Most Recent Disbursement Date • Last Disb Amount = Last Disbursement Amount • Academic Level = Grade Level (Under Grad: 1-5, Grad: A-D) • GA = Guaranty Agency • Servicer = Lender’s designated servicer for the loan

  24. Federal Grant Data • Pell Grant • SEOG Grant • SMART and ACG [HERA 2005] • Fraud Status [HERA 2005] Grants

  25. Enrollment Data • NSC establishes a schedule with the school • Non-NSC schools report enrollment information to the USDE or NSLDS • NSLDS then shares this information with the NSC

  26. Questions for the Crystal Ball?

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