Transcript Document
NSLDS and Federal Loan Servicers Presented by: Colleen W. Coudriet DuBois Business College Presentation Overview • ECASLA and ‘PUT’ Loans: Refresher • National Student Loan Data System – NSLDS – Access • Student • FA Professionals – Examples from both access sites – Features – Resources • Federal Loan Servicers’ Information & Websites 2 ECASLA & ‘PUT’ Loans: Refresher • Ensuring Continued Access to Student Loan Act (ECASLA or HR 5715) of 2008 was signed by President Bush on May 7, 2008 – Instability of U.S. financial markets and their potential impact to the FFEL program was impetus for act – Adopted to ensure that eligible students and parents could receive federal student loans for 2008-09 school year (and beyond), despite tumultuous economic climate 3 ECASLA & ‘PUT’ Loans: Refresher • Two primary components of ‘PUT’ through ECASLA: – Loan Purchase Commitment Program ED commitment to purchase eligible FFEL loans – Loan Participation Purchase Program ED commitment to purchase participation interest in eligible FFEL loans – In purchasing the interest only, ED provides immediate liquidity to lender 4 ECASLA & ‘PUT’ Loans: Refresher • ‘PUT’ Loan Quick Reference for 2009-10: – Loan period includes or begins on/after July 1, 2009 – First disbursement on/after May 1, 2009 and no later than July 1, 2010 – Will be fully disbursed no later than September 20, 2010 – Must be redeemed or ‘PUT’ to ED by September 30, 2010 5 ‘PUT’ Loans: Who and How Much? • So far in 2009-10… 6 NSLDS: ‘BFF’ in managing loan debt • NSLDS is key for both students and financial aid professionals in today’s ECASLA world – Students can access their information by logging on to www.nslds.ed.gov/nslds_SA Select “Financial Aid Review” Agree to Privacy Statement and Encryption Enter Log-In Identifiers Social Security Number First Two (2) Letters of Last Name Date of Birth PIN Number – Students who are in default on a Title IV loan will be denied online access to NSLDS 7 NSLDS: Student View, Initial Screen 8 NSLDS: Student View, Log-In Screen 9 NSLDS: Student View 1, FA Overview 10 NSLDS: Student View 1, Loan Detail 1 11 NSLDS: Student View 1, Loan Detail 4 12 NSLDS: Student View 1, Loan Detail 5 13 NSLDS: Student View 2, FA Overview 14 NSLDS: Student View 2, Loan Detail 1 15 NSLDS: Student View 2, Loan Detail 3 16 NSLDS: Student View 2, Loan Detail 5 17 NSLDS: ‘BFF’ in managing loan debt • Access for Financial Aid professionals – The Primary Destination Point Administrator (PDPA) at each organization can sign up additional NSLDS users at www.fsawebenroll.ed.gov – There is no limit to the number of users within the organization – Sharing of user IDs and passwords is strictly prohibited, so be sure each individual has his/her own user ID 18 NSLDS: ‘BFF’ in managing loan debt • Passwords – Expire and must be changed every 90 days – A warning will be issued 5 days prior to password expiration – Must contain 8 alphanumeric (letters and numbers) characters with a letter as the 1st character – Will be revoked for user IDs not accessed for 90 days 19 NSLDS: ‘BFF’ in managing loan debt • FA professionals’ access https://www.nslds.ed.gov/nslds_FAP/secure/logon.jsp – Enter Username and Password – Agree to Privacy Statement – Complete User Access Verification (to detect and avert automated users attempting to access without authorization) – Enter Student Identifiers and “Retrieve” Social Security Number First Name Date of Birth 20 NSLDS: FA Professionals’ View 21 NSLDS: FA Professionals’ View, Student 1 22 NSLDS: FA Professionals’ View, Student 1 23 NSLDS: FA Professionals’ View, Student 1 24 NSLDS: FA View, Student 1, Loan 4 Detail 25 NSLDS: FA View, Student 1, Loan 4 Detail 26 NSLDS: FA View, Student 1, Org Contact 27 NSLDS ‘PUT’ Loans: Possible ‘Look’ 28 ‘PUT’ Loan Servicer Quick Reference • ‘PUT’ Loan Servicer identifiers and contact information: ACS – Lender Servicer Code 700577; GA Code 577 Borrowers call: (800) 508-1378; Schools call: (866) 938-4750 ------------------------------------------------------------------------------------ SallieMae – Lender Servicer Code 700578; GA Code 578 Borrowers call: (800) 722-1300; Schools call: (888) 272-4665 ------------------------------------------------------------------------------------ AES/PHEAA – Lender Servicer Code 700579; GA Code 579 Borrowers call: (800) 699-2908; Schools call: (800) 655-3813 ------------------------------------------------------------------------------------ Nelnet – Lender Servicer Code 700580; GA Code 580 Borrowers call: (888) 486-4722; Schools call: (866) 463-5638 ------------------------------------------------------------------------------------ Great Lakes – Lender Servicer Code 700581; GA Code 581 Borrowers call: (800) 236-4300; Schools call: (888) 686-6919 29 Federal Loan Servicers’ Sites: ACS 30 Federal Loan Servicers’ Sites: ACS 31 Federal Loan Servicers’ Sites: ACS 32 Federal Loan Servicers’ Sites: Great Lakes 33 Federal Loan Servicers’ Sites: Great Lakes 34 Federal Loan Servicers’ Sites: Great Lakes 35 Federal Loan Servicers’ Sites: Nelnet 36 Federal Loan Servicers’ Sites: Nelnet 37 Federal Loan Servicers’ Sites: Nelnet 38 Federal Loan Servicers’ Sites: AES 39 Federal Loan Servicers’ Sites: AES 40 Federal Loan Servicers’ Sites: SallieMae 41 Federal Loan Servicers’ Sites: SallieMae 42 Conclusion: NSLDS & Federal Loan Servicers While we may not be the primary educators at our institutions, we are now charged with schooling our students on NSLDS and learning, for ourselves, all that NSLDS and the federal loan servicers have to offer. So, it’s back to school we go… 43 Thank you for coming! Presenter Info: Colleen Coudriet DuBois Business College [email protected] (814) 371-6920