10/12/2015. Provides schools with statistics regarding Transfer Monitoring Process

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1 Presented by Sandy Neel, Executive Director of Financial Aid University of Louisville who does not claim to be an expert on NSLDS in any way, shape or form! 1

2 Provides schools with financial aid histories for selected students Loan history that affects loan eligibility Pell history for specified year Report received via SAIG mailbox Often asked for by A133 Auditors Provides a chronology of enrollment reporting events Provides information on when roster was sent Comes to the SAIG mailbox Provides schools with statistics regarding Transfer Monitoring Process 2

3 Enrollment is essential for: Proper servicing of loans throughout their lifecycle Ensuring borrower s loan entitlements (ex. grace) are protected Measuring effectiveness of the Federal student aid programs, especially the Federal Pell Grant Program Ensuring compliance with new statutory provisions 150% Direct Subsidized Loan Limit-SULA NSLDS sends roster to school based in school s schedule NSLDS creates the Enrollment Roster School updates students on roster ad adds new students Schools corrects errors and submits tupdated records School sends roster to NSLDS NSLDS sends error acknowledgement file to school 3

4 Who NSLDS will put on your roster? Students who received Title IV Aid at your school as reported by Schools, Federal Loan Servicers, Guaranty Agencies, Lenders, COD, and the student. Who you must add to your roster? Students with Title IV aid from another school (ISIR) who will be receiving aid at your school. Who you should add to your roster? Students with Title IV aid from another school who will not be receiving aid at your school. NSLDS will add Title IV students to your enrollment roster when Transfer Student Monitoring (TSM) and Financial Aid History (FAH) is requested. School sends Enrollment School Code on grant and loan disbursement records to the Common Origination and Disbursement (COD) System. COD sends the grant, disbursement, and program data to NSLDS and disbursement records to the loan servicer. NSLDS uses the Enrollment School Code and program data from COD to place aid recipients on Enrollment Rosters. NSLDS sends the Enrollment Roster to the school. 4

5 Schools are required to report enrollment to NSLDS at a minimum of every 2 months. Schools must return rosters within 15 days of receipt. Schools must correct errors within 10 days of receipt of an Error Acknowledgement A school that selects a frequency of every two months must be especially diligent in notifying NSLDS if a student drops below halftime, withdraws, or graduates. Such enrollment changes must be reported within 30 days to be compliant with reporting requirements. If a student has a reported enrollment status of G, W, X, Z, or D, he or she will remain on the Enrollment Reporting roster until two consecutive certifications of the same enrollment status is reported. Schools using a Third-Party Servicer to report enrollment data to NSLDS should know that: The school is responsible for ensuring that their Third Party Servicer is compliant with NSLDS reporting requirements. NSLDS will contact schools, not their Third Party Servicer, if the school is out of compliance. Don t forget that all Third-Party Servicers must be added to your school s ECAR 5

6 Failure to report enrollment data, including program-level, will likely result in: Enrollment records being rejected by NSLDS School being out of compliance Potential sanctions Potential over award of Subsidized Loans Loss of interest subsidy Improper servicing Compliance Measurements and Letters to schools Focus on roster completion Report all Title IV students attending your school Escalating notices will be sent for non-compliance Referral to FSA Program Compliance for action Letters are scheduled to begin in January 2016 Students in Portfolio Students Certified Students Certified with Program Percent Certified Percent Certified with Program Enrollment Roster Records Returned Roster Records in Error Returned Roster Error Percent Calculated the 3rd Wednesday of each month 6

7 Warning icons will display under the following conditions: The school location has, as of the most recent calculation, failed to achieve the minimum threshold for certifying students in its portfolio. The school location is currently late in responding to a roster sent by NSLDS. A late letter has been sent and no roster has been received after the late letter was sent. The school location has failed to achieve the minimum threshold for certification and is currently late responding to a roster. Enrollment Statistics Report (ENLST1) Includes information about completeness and quality of the enrollment reporting provided by schools participating in federal student aid. Important! Send file with graduates Then send enrollment file 7

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