shedding light on nslds
Post on 01-Feb-2016
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Shedding Light on NSLDS
Stephanie WilsonSenior Associate of School and Lender ServicesMissouri Department of Higher Education(800) 473-6757
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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
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How to Obtain a User Id
• To obtain an NSLDS user id access the following link:https://www.fsawebenroll.ed.gov/
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What is NSLDS?
• Central Source of Federal Student Aid Data – loans, grants, and enrollment information
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How the Federal Student Aid Process Gets Started
Free Application for Federal Student Aid (FAFSA)
ISIR
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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
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How Loan Data Reaches NSLDS
• FFELP loans
• Direct loans
• Perkins loans
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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
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How Loan Data Reaches NSLDS
• Direct Loans– Direct Loan transmits data to NSLDS
weekly
The William D. Ford Federal Direct Loan Program
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How Loan Data Reaches NSLDS
• Perkins Loans– Schools establish a schedule with NSLDS
to report loan data
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How Grant Data Reaches NSLDS
• Pell, ACG, and SMART Grant data is transmitted to NSLDS by the U.S. Department of Education (USDE) weekly
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How Enrollment Data Reaches NSLDS
• National Student Clearinghouse (NSC) feeds enrollment information to NSLDS weekly
School’s Financial Aid OR Registrar’s Office
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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
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ISIR, Continued
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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
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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
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How to Interpret NSLDS Data
• Warning Icons
• Aggregate Loan Table
• Summary and Detail Pages
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NSLDS Warning Icons
• Death• Default • Fraud [HERA2005]• Disability• Bankruptcy• Close to or Have Exceeded Aggregate Limits• Grant Overpayment
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Aggregate Loan Limits Table
• Summarizes borrowing of individual so that school can prevent overawards
• Includes Grad PLUS loans [HERA 2005]
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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
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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]
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Web Enhancements
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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
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Federal Grant Data
• Pell Grant
• SEOG Grant
• SMART and ACG [HERA 2005]
• Fraud Status [HERA 2005]
Grants
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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
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Questions for the Crystal Ball?
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