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Session 61. Financial Partners’ Journey Through NSLDS Pam Eliadis and Valerie Sherrer. Objectives. Identify how loan level data affects student eligibility Specify how the flow of enrollment data impacts timely conversion to repayment

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Session 61

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session 61

Session 61

Financial Partners’ Journey Through NSLDS

Pam Eliadis


Valerie Sherrer

  • Identify how loan level data affects student eligibility
  • Specify how the flow of enrollment data impacts timely conversion to repayment
  • Examine ways financial partners can improve NSLDS Data Quality
  • Recognize what data reported to NSLDS impacts the Cohort Default Rate
  • Define NSLDS Security rules and user responsibilities
  • Re-engineering NSLDS to Enhance Student Aid History Management
student eligibility
Student Eligibility
  • Loan level data that affect Student Eligibility:
    • Loan Statuses
    • Originations
    • Disbursements
    • Cancellations/Refunds
    • Outstanding Balances
student eligibility1
Student Eligibility
  • Schools see eligibility information:
  • ISIR
  • NSLDS FAP Website
student eligibility2
Student Eligibility

Loan Status

  • Default Status is based on Lender Claim Payment
  • Rehabilitated Loans should be reported timely
student eligibility aggregates
Student Eligibility - Aggregates
  • Three Major Variables:
    • Net Loan Amounts (Guaranty minus Cancellations)
    • Disbursements
    • Outstanding Principal Balance

Aggregate Loan Limits are calculated for each student on NSLDS to assist the FAA in determining student eligibility.

student eligibility loan status
Student Eligibility – Loan Status
  • Identification of Consolidation’s Underlying Loans:
    • Loan Status Code = PN, DN, PC, DP or PF
    • Loan Status Date within 210 days (before or after) of the Consolidation Loan Date
student eligibility3
Student Eligibility


  • Report Originations as they happen
  • Helps Schools see pending aid for Transfer Students
student eligibility4
Student Eligibility


Factor in determining the Net Loan Amount for aggregate calculation

student eligibility5
Student Eligibility
  • Disbursements

Factor in aggregate calculation

student eligibility6
Student Eligibility
  • Outstanding Principal and Interest Balance Amounts

OPB factored in aggregate calculations, OIB and Other Fees are not

enrollment reporting
Enrollment Reporting
  • Impacts of Enrollment Reporting on Financial Partners
    • Enrollment Reporting Flow
    • Changes to the Loan Status
    • Impact on the Date Entered Repayment
    • Effects of Non-Reported Enrollment Changes
enrollment reporting1
Enrollment Reporting
  • How do students get on a school’s roster?
    • Reporting of a loan
    • School adds them to a roster
    • Reporting of an ACG or SMART Grant

(as of Jan. 2007)

enrollment reporting2
Enrollment Reporting

When student drops below half-time attendance:

Loan Status: IA to IG

enrollment reporting3
Enrollment Reporting

When student re-enters school:

Loan Status: RP to DA

enrollment reporting4
Enrollment Reporting
  • Impact on Date Entered Repayment (DER)
    • Enrollment Effective Date used to drive DER
    • DER is loan based, not student based
    • GA Data Provider Instructions
      • Grace = Separation + 6 months
      • DER = Separation + 6 months + 1 day
      • After entering repayment, DER does not change
enrollment reporting5
Enrollment Reporting
  • Possible Effects of Non-Reported Enrollment Changes
    • Loan converted to repayment early
    • Loan entering repayment delayed
    • Borrower enters grace period without knowledge
enrollment reporting6
Enrollment Reporting

Data Quality Monitoring

Inconsistencies between enrollment and loan statuses

enrollment reporting7
Enrollment Reporting
  • Effective Enrollment Reporting and usage:
    • Reduces risk of default
    • Minimizes technical defaults
  • NSLDS:
    • Maintains the official enrollment data
    • Provides GA’s enrollment data weekly
    • Instructs GA’s to inform Lender/Lender Servicers timely
nslds data quality
NSLDS Data Quality
  • Examine how Financial Partners can improve NSLDS Data Quality
    • Timely reporting to GAs by lenders
    • Accurate Contact information
    • Accurate information
nslds data quality1
NSLDS Data Quality
  • Benefits of Timely Reporting
    • Timely reporting of information affecting student eligibility
    • New data reported quickly for decision making
    • Effective program management and oversight
nslds data quality2
NSLDS Data Quality

Accurate Contact Information

nslds data quality accurate contact information
NSLDS Data Quality – Accurate Contact Information
  • Contact information displayed on NSLDS web sites
  • Contact Information used for the Interactive Voice Response Unit for 1-800-4FEDAID
nslds data quality accurate information
NSLDS Data Quality – Accurate Information
  • Resolve reporting errors
  • Close unconsummated loans
  • Report loan transfers
nslds data quality accurate information1
NSLDS Data Quality – Accurate Information
  • Resolve reporting errors:
    • Actively work reporting errors
    • Analyze loan errors holistically
    • Resolve for next submission
nslds data quality accurate information2
NSLDS Data Quality –Accurate Information
  • Non-Closure of Unconsummated Loans:
    • May cause GAs to “assume” the loan status
    • Creates conflicting information
nslds data quality3
NSLDS Data Quality

Accurate Information

Unconsummated Loan Aging

Assumed by the GA

nslds data quality4
NSLDS Data Quality
  • GA Data Quality Measures
    • Review Benchmark reports
    • Data Integrity Improvement Plans
    • Reconcile Fee Payment Backup Data
    • Annual Reconciliation with NSLDS
    • Research Reasonability Report variances
nslds data quality5
NSLDS Data Quality

Accurate Information

nslds data quality accurate information3
NSLDS Data Quality – Accurate Information

Number of Identifier Conflicts by Month

cohort default rates
Cohort Default Rates
  • Recognize what data reported to NSLDS impacts the Cohort Default Rate (CDR)
    • Formula
    • Fields
    • Rates
    • Frequency
    • Adjustments
cohort default rates1
Cohort Default Rates

Borrowers who entered repayment in FY04 and defaulted in FY04 & 05

divided by

Borrowers who entered repayment in FY04

cohort default rates2
Cohort Default Rates
  • What NSLDS fields affect the CDR calculation?
    • Date Entered Repayment (DER)
    • Loan Type
    • Date Claim Paid
    • Claim Reason Code
    • Loan Status Codes
    • Student Identifiers
cohort default rates3
Cohort Default Rates
  • Two Lender Calculations
    • Originating Lender Rate
    • Current Holder Rate
  • One GA Calculation
cohort default rates4
Cohort Default Rates
  • How often are the CDRs Calculated?
    • Draft Cohort Default Rate (CDR)
      • Calculate January
      • Publish February
    • Official Cohort Default Rate (CDR)
      • Calculate August
      • Publish September
cohort default rates5
Cohort Default Rates

CDR on the Web

cohort default rates6
Cohort Default Rates

CDR on the Web

cohort default rates7
Cohort Default Rates
  • How do Financial Partners request an adjustment to their CDR?
    • Lenders:
      • Data Correction to GA within 30 days of publication
      • The GA has 15 days to respond
    • GA:
      • GA has 45 days to submit data corrections

CDR Guide for GAs and Lenders:

nslds security
NSLDS Security
  • Define NSLDS Security rules and user responsibilities
    • DCL Gen 05-06
    • Audit Reports
    • Data Mining
    • User IDs
nslds security1
NSLDS Security
  • Dear Colleague Letter GEN 05-06
    • NSLDS may not be used for marketing purposes
    • Student/Borrower’s permission is required
    • Reminds users of Federal Student Aid’s enforcement obligation
nslds security2
NSLDS Security
  • Audit Reports
    • Every student look-up is tracked by User ID
    • Lender Audit Security Reports
      • Requested by Destination Point Administrator
      • Number of look-ups by user id
      • Past 90 days
nslds security3
NSLDS Security

No Data Mining

  • Completely Automated Public Turing Test to Tell Computers and Humans Apart (CAPTCHA) tool
  • Monitoring top 20 users and organizations
nslds security4
NSLDS Security
  • User ID’s
    • Will be disabled after 12 months of inactivity
    • Cannot be shared with colleagues
    • Obtain through
nslds re engineering
NSLDS Re-Engineering
  • NSLDS Functionality
    • Monitor aid eligibility through applicant pre-screening, post-screening, and transfer monitoring processes;
    • Receive student enrollment updates from schools and their servicers, process and store this information in the Operational Data Store (ODS), and then distribute relevant enrollment updates to interested trading partners (i.e. lenders, lender/servicers, guaranty agencies).
nslds re engineering1
NSLDS Re-Engineering
  • NSLDS Functionality
    • Manage the default rate processes including calculation, distribution, and publishing of default rates
    • Provide aid-level calculation services and provide SAHM operational reports and metrics 
    • Manage receipt of student, aid, and organization data to provide an integrated student view of financial aid history
nslds re engineering2
NSLDS Re-engineering
  • Goals for Re-Engineering
    • Align with Federal Student Aid Data Strategy Efforts
      • Implement FFEL data flow changes to facilitate design and implementation of Information Framework(IF)/ Student Aid History Management (SAHM)
nslds re engineering3
NSLDS Re-engineering
  • Goals for Re-Engineering
  • Improve Data Usefulness:
    • Data Timeliness
    • Data Quality
    • Program Monitoring and Oversight
nslds re engineering4
NSLDS Re-engineering
  • FFELP Community Benefits:
    • Data source becomes responsible for reporting
    • Using current industry data exchange formats and methods (i.e. XML Schemas)
    • Standardized reporting for all life-cycle stages (i.e CommonLine)
    • Reduced duplicative reporting among FFEL participants
    • Interface Consistency
nslds re engineering5
NSLDS Re-engineering
  • Students, Parents, and Schools Benefits:
    • Timely information for making eligibility decisions
    • Enhanced data integrity
    • Program Information Parity
nslds re engineering6
NSLDS Re-engineering
  • Federal Student Aid Benefits:
    • Improved Customer Service to all constituents
    • Facilitates better decision making
    • Enhanced data integrity
    • Improved oversight of FFEL Program
    • Meets Target State Vision for the Enterprise
nslds re engineering7
NSLDS Re-engineering
  • Next Steps:
    • Collaboration with community stakeholders
    • Focus Groups being held in conjunction with both Federal Student Aid conferences
    • Definition of requirements
thank you
Thank you!

We appreciate your feedback and comments.

We can be reached at:

  • Phone: Valerie Sherrer 202-377-3554

Pam Eliadis at 202-377-3554

  • Fax: 202-275-0913
  • Email: