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Does Enrollment Reporting Matter?
Submitted by: Stephanie Bender and Aristea Williams, Client Relations Managers serving Tristate
With more demands on your time as a financial aid administrator, it can be hard to know just how much focus you should give to enrollment reporting.
Consider this scenario. A student withdraws from school. The student’s lender isn’t notified and, as a result, the student never receives typical grace period communications preparing him or her for repayment. Do you know what percentage of borrowers who withdraw from school become delinquent on their loans? Or never even make a single payment?
It’s a distressingly high number.
We emphasize to our borrowers the importance of staying in contact with their lender, but do you know how enrollment reporting is being processed at your school? How frequently you’re sending updates? Where you can improve?
Changes in enrollment should be communicated as soon as possible—for the benefit of your borrowers, and to comply with ED regulations on the timing of enrollment reporting:
Student enrollment reporting citations
"Timely and accurate enrollment status reporting is critical
for the effective administration of Title IV student loan programs."
"All schools with the exception of foreign schools must
report enrollment status changes to the National Student Loan Data
System, or NSLDS. (A foreign school may also use NSLDS to report enrollment
status changes. See the subheading “Reporting by Foreign Schools.”)
Schools may elect to satisfy this requirement by reporting to NSLDS
directly or through the use of a third-party servicer. If a student’s
enrollment status changes and the school does not expect its NSLDS
enrollment reporting to be completed within the next 60 days, the
school must submit an ad hoc report within 30 days."