550 likes | 709 Views
Online Student Loan Counseling A clearing in the regulatory jungle. Presented by: Beth Ziehmer Customer Care/Operations Coordinator November 10, 2008. Sponsors. AES/PHEAA American Student Assistance College Assist Connecticut Student Loan Foundation ECMC EDFUND
E N D
Online Student Loan CounselingA clearing in the regulatory jungle Presented by:Beth ZiehmerCustomer Care/Operations Coordinator November 10, 2008
Sponsors • AES/PHEAA • American Student Assistance • College Assist • Connecticut Student Loan Foundation • ECMC • EDFUND • Education Assistance Corporation • Finance Authority of Maine • Florida OSFA • Georgia Student Finance Commission • Great Lakes Higher Education Guaranty Corporation • Illinois Student Assistance Commission • Iowa College Student Aid Commission • Kentucky Higher Education Assistance Authority • Louisiana Office of Student Financial Assistance • Michigan Higher Education Assistance Authority • Missouri Department of Higher Education • Montana Guaranteed Student Loan Program • National Student Loan Program • New Hampshire Higher Education Assistance Foundation
Sponsors • New Jersey Higher Education Student Assistance Authority • New Mexico Student Loan Guarantee Corporation • New York State Higher Education Services Corporation • North Carolina State Education Assistance Authority • Northwest Education Loan Association • Oklahoma Guaranteed Student Loan Program • Rhode Island Higher Education Assistance Authority • South Carolina Student Loan Corporation • Student Loan Guarantee Foundation of Arkansas • Student Loans of North Dakota • Tennessee Student Assistance • Corporation • TG • United Student Aid (USA) • Funds, Inc. • Utah Higher Education • Assistance Authority • Vermont Student Assistance • Corporation
Friends • Academic Finance Corporation • ALL Student Loan • American Student Loan Services • Arizona Federal Credit Union • Brazos Student Lending • Chase • Citibank • Commerce Bank • COSTEP • Edfinancial Services • Education Finance Partners • Educational Direct • EFSI • IDAPP • Indiana Secondary Market for Education Loans, Inc. • Key Bank • Michigan Higher Education • Student Loan Authority • MOHELA • Nelnet • New Mexico Educational • Assistance Foundation • NextStudent • Panhandle-Plains Higher • Education Authority • Priority Technologies, Inc. • Regent • Regions Bank • Rhode Island Student Loan • Authority • SallieMae • SimpleTuition, Inc. • Southwest Student Services • Corporation • Student Assistance Foundation of • Montana
Friends • Student Funding Group, LLC. (StuFund) • Student Loan Finance Corporation • Student Loan Xpress • Studentloans.com • SunTrust Bank • TCF National Bank • Total Higher Education (T.H.E.) Loan Program • U.S. Bank • Vangent • Wachovia Education Finance • Wells Fargo • Western States Learning Corporation
New school MYF Staff School
Requirements • Maintain documentation • Sample repayment information • Respond to questions • Stafford exit data to guaranty agency • Written repayment information to Perkins borrowers • Provide contact information* • Definition of half-time enrollment* • Appropriate offices if withdraw*
Requirements • Prevent borrowers from circumventing or exiting counseling before complete • OSLC team and staff continue to monitor regulations
Documentation • Paper records • Daily records • Reports tab • Export • SchoolExpress
SchoolExpress • Automated method • CSV • TXT • XML • Requires programming • Request documentation
Archive policy • Mapping Your Future isn’t record keeper • Archive policy • One year of data online • Two prior years available by customer service request • Prior data is unavailable
Sample repayment • Stafford entrance • Range of indebtedness or • Average indebtedness of borrowers who obtained Stafford Loans for attendance at school or in program of study • If student borrows Stafford AND Grad PLUS loans, must include both Stafford and Grad PLUS
Sample repayment • Grad PLUS entrance • Range of debt levels or • Average indebtedness of Grad PLUS borrowers at school or in program of study • If student borrows Stafford AND Grad PLUS loans, must include both Stafford and Grad PLUS
Sample repayment • Stafford exit • Borrower's actual indebtedness or • Average indebtedness of borrowers who obtained Federal Stafford or SLS loans at school or in program of study • If student borrows Stafford AND Grad PLUS loans, must include both Stafford and Grad PLUS
Sample repayment • Display information with monthlypayment amount at maximum interest rate • With instructions to borrower • On your website • On customized counseling start page • Use indebtedness customization
ExitExpress • Individual confirmations • Exit report list • Guarantor Exception Report* • Guarantor Rejection Report
Other information • Contact information • On customized page • Possible contact customization later • Definition of half-time enrollment • Appropriate offices to notify if withdraw
Users • Super user • Grant access • Inactivate access • Customize • Retrieve records • Additional users • Account • Customize • Retrieve records • Retrieval
Updating accounts • Super user and account access • Change notification options • Customize account • Mapping Your Future staff • Inactivate super user • Change school name • Change OPE-ID • Add counseling types
Customized questions • Default questions • Select questions • Minimum number • Can submit new questions
Budget calculator • Excluded from entrance • Included in exit
Counseling start page • School-specific information • Dates • Disbursement procedures • Refund policies • Sample repayment* • Contact information* • Half-time definition* • Appropriate offices* • Template • One page per session
Counseling start page • Options • Wizard • Edit • Submit • School logo • Type text • Make links open in new window • Save changes • Link to page
Display school logo • Customized start page • At top of all pages • Programming • Rename Exit button