Fall 2008 Online Publication    



Perspectives
    Message from 0809 Chair
    Message from News Chair
Association News
    Remembering Tom Farrell
    State Reports
    Committee Updates
Special Features
    Financial Literacy Tips
    HS Grads Lack $$$ Skills
    Know Your FICO Score
    Defining Purpose
    Enrollment Reporting


PUBLICATION SCHEDULE
Issue Due Date
Fall
9/15
Winter 12/01
Spring 04/15
Summer 06/30

Submit articles to
Renee Weekes
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."
– Common Manual, Section 9.2, Student Enrollment Status Reporting

"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."
– Common Manual, Section 9.2, Student Enrollment Status Reporting


Defining Purpose Message from the
0809 Chair