Enrollment Reporting

1. Enrollment Reporting

2. Agenda • What is enrollment reporting? • Why does it matter? • Process • Possible effects of non-reporting • Impact on cohort default rates • Common errors • Best practices

3. 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 3

4. 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 4

5. 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

6. NSLDS Data Content* *As of June 2007 6 http://www.ifap.ed.gov/

7. NSLDS Identifier Conflicts SSN First name Date of birth http://www.ifap.ed.gov/

8. 2007 Top NSLDS Errors • Date of student’s birth - 12,740 • Date enrollment period begins - 11,672 • Student’s Social Security number - 8,499 • Date enrollment status effective - 8,270 • Date of disbursement - 8,057 http://www.ifap.ed.gov/

9. Who is Correcting Data? • Guarantors • Lenders • Schools 9

10. 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 10

11. School Efforts • Accurate borrower contact information • Accurate enrollment changes • Timely enrollment reporting 11

12. Enrollment Submittal Process Roster files 1 Submittal files 2 Certify students via NSLDS Web Schools or school servicers Acknowledgment/error files 3 NSLDS database Error correction files 4 Correct errors via NSLDS Web Guaranty agencies, Direct Loan servicer, and lenders Enrollment data 5 12

13. Roster Field Names • Ten Fields: • Nine mandatory • One optional 13

14. 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

15. Enrollment Reporting Flow Process Online Guaranty Agency S C H O O L School Software N S L D S Lender/Servicer EDExpress SSCR Servicer DL Servicer Clearinghouse 15

16. 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 months • DER = Grace period + 1 day • Upon repayment, DER does not change

17. Non-Reported Enrollment Changes • Possible effects • Loan converted to repayment early • Loan entering repayment delayed • Borrower unknowingly enters grace period

18. Draft rate Official rate Feb-09 Sep-09 9/30/08 10/1/06 9/30/07 Draft rate Official rate Feb-10 Sep-10 9/30/09 9/30/08 10/1/07 Possible Effects of Non-Reporting 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 re-enrolls in school B on 01/27/2007 Student graduates on 12/31/2007 Student withdraws from school A on 10/15/2006 CY 2007 CY 2008 18

19. Impact on Cohort Default Rates • Frequency • Fields • Rates • Adjustments

20. Enrollment Information 20

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23. Loan Information 23

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25. GA calculates the DER Lender updates loan status 25

26. Enrollment Change ScenarioStudent Enrolls Below Half-time L • School reports • Lender receives enrollment status • Loan status: IA to IG 26

27. Enrollment Change ScenarioStudent Re-enters School Full Time F • School reports • Lender receives enrollment status • Loan Status: RP to DA 27

28. Enrollment Reporting Scenario 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? Solution: School should do a manual update on NSLDS (Web). 28

29. Enrollment Reporting Scenario 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? Solution: School may either do a Web update or wait for the upcoming November enrollment reporting. 29

30. Common Errors: Case One Solution: Report Effective Date for the W status DER was calculated using the ACD DER on NSLDS = 10/01/2006 Based on DER, CY = 2007 *Date Entered Repayment (DER) **Anticipated Completion Date (ACD) 30

31. 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 31

32. Best Practices • Review NSLDS Date Entered Repayment (DER) report • Use tracking systems • Review withdrawal process • Make use of the resources available 32

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34. Thank you for attending Mike Stein 301.231.7557 mstein@edfund.org