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Electronic Data Exchange Standards in FFELP Tim Cameron Project Manager, Meteor Mark Putman CTO, NCHELP. Session Agenda. Overview of Current Electronic Standards & some Future State Considerations Meteor Update. Current Student Loan Data Exchange Standards. Originations. CommonLine
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Electronic Data Exchange Standards in FFELP Tim Cameron Project Manager, Meteor Mark Putman CTO, NCHELP
Session Agenda • Overview of Current Electronic Standards & some Future State Considerations • Meteor Update
Originations • CommonLine • History • v.4 • v.5 • Common Record CommonLine (CRC) • Common Account Maintenance (CAM)
Enrollment • NSLDS Enrollment • Total Enrollment Reporting Process (TERP) • Replaced paper (SSCR) processes
Interim Servicing • Periodic and Event Driven Reporting • CAM • NSLDS Lender Manifest • NSLDS
Repayment Servicing • Periodic and Event Driven Reporting • CAM • NSLDS Lender Manifest • NSLDS
Claim Filing • CAM (in support of the Common Claim Initiative)
Post Default • NSLDS • National Database of New Hires (NDNH) • Assignment • New 11/1/2007 Regulationseffective 7/1/200834 CFR 682.409(c)4(viii)
The Meteor Project Components • The Meteor Software • The Meteor Network • The Meteor Federation
In the beginning…. • Pre-Meteor Environment • Lenders, Guarantors, Servicers, Schools and others all offer independent web services • Access requires multiple logins • FFELP Providers Solution • Spring 2000: In response to Federal Modernization Blueprint, NCHELP members move to create an information network to provide aggregated financial aid information.
In the beginning…. • Foundation Principles • Open Source • Open Collaboration • Freely Available • Controlled Participation Network • Policy and Technology Decisions
Meteor Features Access real-time, student-specific financial aid information from multiple sources with an intuitive user interface and navigation Currentlyprovides information on FFELP and alternative loans (capability exists to include Direct Loans & Perkins Loans)
Meteor Today • 14 Points of access to the Network • 20 Data providers • Several customized implementations • Leading the way for transitive trust in higher education financing
Meteor Participants • Organizations that implement the Meteor software • Access Providers (AP) • Authentication Agents (AA) • Data Providers (DP) • Index Providers (IP)
The NSC as the Meteor Index Provider • 100% (over 25 million) of FFELP guarantee volume • 100% (over 6.5 million) of Direct Loan Program accounts • Over 19.2 million FFELP servicer accounts • Over 2.9 million Perkins/Private/Alternative Loan servicer accounts
The Meteor Process Authentication (by AP or AA) Access Provider Data Providers Users One Student/Borrower or Financial Aid Professional orAccess Provider RepresentativeorLender Two Index Provider Three
Meteor’s Authentication Objectives • Provide a flexible, easy to implement authentication system that meets the needs of the provider organizations and their customers. • Ensure compliance with the Gramm-Leach-Bliley Act (GLBA), federal guidelines, and applicable state privacy laws.
Meteor’s Authentication Objectives • Assure data owners that only appropriately authenticated end users have access to data. • Ensure compliance to participant organizations internal security and privacy guidelines.
The Meteor Registry • Each participant is required to register, sign a participation agreement, and submit policies and procedures surrounding their authentication process. • The Meteor Team Leads review the policies and procedures and assign a Level of Assurance • Meteor uses a centralized LDAP server to contain: • Public keys of all participants • Network status information (active, pending, suspended) • Contact Information
Meteor’s Authentication Requirements • Access provider must ensure appropriate authentication for each end user and provide traceability back to that user • Access provider must provide central authority with 30 day advance notice of changes to authentication policy • Access provider must agree to appropriate use of data
The National Student Clearinghouse School Based Authentication • Schools that have entered into an electronic services agreement with the NSC will act as Authentication Agents. • NSC will review the school’s authentication policies & procedures • Students campus issued credentials will be utilized to access Meteor and other NSC services
Highlights of Version 3.3 • New security features • Usability and other navigation improvements • Restores NSC LoanLocator services for borrowers
Meteor Customization • Style sheet changes • Integration of data into other online services
Meteor network data is presented in NELA branded style sheets
Mapping Your Future’s Online Student Loan Counseling • Integration of real-time data • Advice on borrowing conservatively and maintaining debt • Debt/salary wizard • Optional budget calculator • School customization options
USA Funds Exit Counseling • Using the XML data provided in a Meteor inquiry response, USA Funds populates their exit counseling loan screens with real-time data from the Meteor Network
Other Customization Options • How Could You Use Meteor Data? • Integration into Debt Management Solutions • Integration into CSR/Call Center Solutions • What’s the Catch? • Need prior approval from M.A.T. • Need to implement Meteor Access Provider
Online Award Letter Pilot • Will serve as a debt management tool • Borrowing history presented BEFORE a new award is accepted • Ensures that borrower is aware of the potential impact of increasing his aggregate loan(s) amount • Total current outstanding • New total outstanding with the addition of the new loan • Repayment scenarios based on aggregates
For More Information…. • www.MeteorNetwork.org • Audio presentation • Interactive demonstration version of the software • Link to the Meteor project site
Tim Cameron Project Manager, Meteor (954) 565-7229meteor@nchelp.org Mark Putman CTO, NCHELP (913) 724-6655mputman@nchelp.org Thank You!