repayi~1.pdf  repay info-73.pdf repay info-76.pdf repay info-2-77.pdf repay info-3-78-82.pdf Repayment Information File Size: 291KB Number of Pages: 10 Requires 4.0 or greater of the free Adobe Acrobat Reader software. Repayment Information What is repayment information? Repayment information is a default management tool provided by the National Student Loan Data System (NSLDS). Specifically, NSLDS, on a monthly basis, provides school specific repayment information about students who have obtained Federal Family Education Loan (FFEL) Program loans and/or William D. Ford Federal Direct Loan (Direct Loan) Program loans to attend the school and have entered into repayment on the loans in the first 12 months of the most recent 24-month period. Page 73 - Chart - Repayment Information File Size: 7450 bytes Number of Pages: 1 Requires 4.0 or greater of the free Adobe Acrobat Reader software. Does the repayment information represent a school's cohort default rate? No, the repayment information does NOT represent the school's cohort default rate. The repayment information is provided solely as a service to help schools track loans and correct errors associated with loans that recently entered into repayment. The Department will continue to calculate cohort default rates at the prescribed intervals and will base the cohort default rate calculation on data that is in NSLDS at the time of the calculation. Which schools are able to obtain repayment information? Repayment information is available for all schools that participate in any of the Title IV Student Financial Assistance Programs and have students who entered into repayment on FFEL Program and/or Direct Loan Program loans during the first 12 months of the most recent 24-month period. In what type of format is repayment information provided? Repayment information is available in a summary format or in a detailed file format. The summary format provides a school with the number of borrowers who entered into repayment in the first 12 months of the most recent 24-month period. In addition, the summary report provides a school with the number of borrowers who entered into repayment in the first 12 months of the most recent 24-month period AND defaulted (or met other specified conditions1 Please refer to page 76 for information on how to obtain this repayment information. The detailed file format provides a listing of the borrowers tallied in the summary format. In addition, the file format provides information about each of the relevant loans provided to the borrowers included on the report. The information provided on the borrowers’ loans is the same data as provided on a school’s cohort default rate loan record detail report. Please refer to page 77 for information on how to obtain this repayment information. _____________________________ 1Other specified conditions: For non-degree granting propriety schools only, borrowers who have received Direct Loan Program loans are considered to be in default for the purposes of calculating repayment information if, for a specified period of time, the borrowers are in repayment under the income contingent repayment (ICR) plan with scheduled payments that are less then 15 dollars per month and less than the interest accruing on the loan. Will a school be able to access repayment information based on different 24-month periods? A school will be able to access the summary repayment information associated with up to 17 different 24-month periods. The following chart identifies the summary repayment information available in NSLDS between January and December 2000.
The detailed file format repayment history is only available for the most recent 24-month period. Therefore, it is important that a school monitor its repayment information on a monthly basis and, if desired, download the most recent detailed file format on a monthly basis. What are the benefits of reviewing the repayment information? The detailed file format repayment information can assist schools in – Monitoring when borrowers enter repayment. Schools that monitor borrowers' repayment status can use the information to make sure that the borrowers that have just entered repayment are aware of all of the possible repayment, deferment, and/or forbearance options that are available. This information can help a borrower avoid default. Ensuring the data reported to NSLDS is accurate. Schools that monitor borrowers’ repayment and default status can contact lenders/guaranty agencies/services as errors occur instead of waiting until the release of the draft cohort default rates to correct inaccuracies. It is important to note that the repayment information only provides information about a borrower’s repayment and/or default status. The repayment information does not provide information regarding a borrower’s delinquency status. For more information about a borrower’s possible delinquency status, a school should contact the relevant lender, guaranty agency, or Direct Loan servicer. How can a school access the summary repayment information? The summary repayment information is available from the Department’s NSLDS website. Therefore, to access a school’s summary repayment information, an individual at the school must have an NSLDS user-ID. To obtain an NSLDS user-ID, contact NSLDS Customer Service at (800) 999-8219. Page 76 Accessing Summary Repayment Information Steps One and Two File Size: 41KB Number of Pages: 1 Requires 4.0 or greater of the free Adobe Acrobat Reader software. Page 77 Accessing Summary Repayment Information Steps Three thru Five File Size: 80KB Number of Pages: 1 Requires 4.0 or greater of the free Adobe Acrobat Reader software. How can a school access the detailed file format repayment information? The detailed file format repayment information is requested using the Department’s NSLDS web site. Once the request has been made via the NSLDS web site, the detailed file format is delivered to the Title IV WAN mailbox associated with the NSLDS user-ID that was used to make the request. EDconn32 software is used to download the detailed file format from the user’s Title IV WAN mailbox. Therefore, in order to request detailed file format repayment information, the requestor must have an NSLDS user-ID, a Title IV WAN account, and EDconn32 software. There are two types of NSLDS user-IDs – an on-line services only NSLDS user-ID and an on-line services and batch NSLDS user-ID. Because both NSLDS user-IDs have associated Title IV WAN mailboxes, both user-IDs can be used to request detailed file format repayment information. However, if the on-line services only NSLDS user-ID is used to request the detailed file format, it is important to realize that the detailed file format will be placed in the Title IV WAN mailbox associated with the on-line services only user-ID and NOT in the Title IV WAN mailbox associated with the on-line services and batch user-ID.
Pages 78-82: Requesting and downloading detailed file format repayment information step-by-step description. File Size: 175KB Number of Pages: 5 Requires 4.0 or greater of the free Adobe Acrobat Reader software. |
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