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Postsecondary Electronic Standards Council

Postsecondary Electronic Standards Council. May 7, 2003 ELM Resources, ELMNet, and Standards Bill Connor Director ELMNet Services. What is ELM Resources?. Mutual Benefit Corporation Alliance of lenders, guarantors, and servicers Cooperative venture, open to all Non-Profit company

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Postsecondary Electronic Standards Council

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  1. Postsecondary Electronic Standards Council May 7, 2003 ELM Resources, ELMNet, and Standards Bill Connor Director ELMNet Services

  2. What is ELM Resources? • Mutual Benefit Corporation • Alliance of lenders, guarantors, and servicers • Cooperative venture, open to all • Non-Profit company • Free services to schools • Single Point of Data Exchange • Provider Neutral • Technology Bridge

  3. ELM is Open • ELM members represent over 90% of FFEL volume • All guarantors interfaced • Provider neutral • 700 schools using ELM • Choice of lenders, guarantors, & servicers • Choice of providers based on service • Control over loan process • Supports all standard application flows

  4. What does ELM do • Loan delivery • Batch processing • Real-time processing • Central database • Reports • Inquiries • Central Database • Remote Databases

  5. ELM in 2002 • 2002 was a successful year for ELM, despite hitches: • In 2002, volume grew to 2,100,330 loan records, a 42% increase over the previous year • The National Disbursement Network delivered $5.6 billion in disbursement, a 42% increase over 2001. • There are over 796 schools using the ELM service bureau, and, • 748 schools using the NDN

  6. ELM Loan Volume

  7. ELMNet and Real-Time Inquiry • ELMNet real-time inquiry in production since Oct. 1999 • Real-time access to remote production systems • Inquiry index has 12 million borrowers • Approx 85-90% of all loans available

  8. ELMNet and Real-Time Transactions • ELMNet loan transactions since May 2002 • Current Real-Time Transactions participants • Citibank • Educaid • Wells Fargo • In development/testing • Sallie Mae - Bank of America • Southwest Student Series - Nelnet • XML Messages using CommonLine 4

  9. ELMNet as a data switch • Transactions • Multiple formats • CL 95 • CL4 • CL5 • Proprietary • Batch & RT • FTP & POP3 • FTP Push • FTP Pul

  10. Standards • We love ‘em • But which one(s)

  11. Why does ELM want standards • 700 school interfaces • 1000 lender IDs • 70 loan origination platforms

  12. ELM and Standards • ELM supports standards • ELM does not impose standards • Standards are embraced, not merely declared • Marketplace determines standards

  13. Schools and Standards • Schools are the drivers • Schools are the focal point of ELM and the ELM Members • Schools are not all the same

  14. Diversity among schools • Size • Population served • Needs • Capabilities

  15. Schools and Technology • Dichotomy • Tradition v technological advancements • Competing internal demands • Resource limits • People • Equipment • Money

  16. Schools and Systems • Internal v commercial/vendors • Open Source v Proprietary • Standards • Primarily external interfaces • USDE • Financial aid • ELM • State entities

  17. ELM and Schools • ELM does not impose standards upon schools • ELM suggests standards • ELM suggests best practices • ELM is a technology buffer between schools and lenders/guarantors

  18. ELM and Members • ELM does not impose standards on Members • Mutual benefit organization • Board of Directors • Members committees within ELM • Operations • Technology

  19. ELM and Members • Like schools, not all Members are the same • ELM is a technology buffer • ELM Members are often competitors • Standards help but do not eliminate competitive issues or capability issues

  20. ELM and the student loan industry • PESC • NCHELP • EFC • USDE

  21. ELM and the student loan industry • Progression • ELM Universal Format (EUF) • CommonLine • Common Record • ELM participates • ELM as a delivery standard?

  22. Standards – Some Suggestions Understand who the customer is Focus on need Focus on external actions – points of data exchange Recognize business realities Don’t reinvent Implementing standards, even good ones, can take time and money

  23. Additional Suggestions Participate in national efforts PESC NCHELP ESC Recognize the bias of certain efforts Focus on achievable objectives Understand external factors USDE/FSA modernization XML Internet

  24. Postsecondary Electronic Standards Council May 7, 2003 ELM Resources, ELMNet, and Standards Bill Connor Director ELMNet Services

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