Transcript Common Record: CommonLine (CR:C) Implementation

5th Annual Conference
on Technology &
Standards
April 28 – 30, 2008
Hyatt Regency Washington
on Capitol Hill
www.PESC.org
5th Annual Conference
on Technology &
Standards
Presenters
• David Bailey
– Manager, Loan Program Administration, Kentucky
Higher Education Assistance Authority (KHEAA)
• Jennifer M. Hulvey
– Student Systems Lead Functional Analyst, Student
Financial Services, University of Virginia
• Rhonda Kilgore
– Product Strategy Manager, Oracle Corporation
– [email protected]
5th Annual Conference
on Technology &
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Description
• This session will provide a brief overview of the
CommonRecord: CommonLine (CRC) format; its
benefits for college/university financial aid offices,
lenders, servicers and other organizations; and ensure
that attendees have a basic understanding of the
functionality within CRC.
• A discussion with the NCHELP Electronic Standards
Committee and organizations that are utilizing CRC in
production will focus on successes in the implementation
process, the importance of its implementation, and the
challenges and lessons learned by analysts and
developers during their implementation and testing of
CRC.
5th Annual Conference
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•
•
•
•
•
Overview
Benefits
Things to Consider
Implementation
Q&A
Agenda
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Common Record
Background Information
• COD was an existing process that we
were asked to mimic. However, there are
processes that are unique to FFELP
• Consequently, COD was the base, but
CRC was born out of the differences
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Common Record
Philosophy
• Single standard Common Record
• Support all aspects of higher-ed electronic
communications
– Pell, Direct Loans, FFELP, Transcripts,
Campus-Based, Loan Counseling, etc.
• Eliminate multiple flat file formats
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Common Record
Philosophy continued
• Simplified process for submission of
higher-ed related data
• Maintenance and enhancements managed
by the Postsecondary Electronic
Standards Council (PESC)
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The Common Record
• Common Record:
– Common Origination and Disbursement -COD
(Direct Lending)
– CommonLine (FFELP and Alternative Loans)
– Transcripts (XML Transcript)
– XML ISIR (future release)
– Loan Counseling (in development)
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Common Record
Terminology
• Registry and Repository
(Core Components Dictionary)
– Standard structure
– Naming conventions
– Change control oversight
• Schema:
Defines structure and content
for XML Documents
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CommonLine
Overview
• What is CommonLine?
– Standard protocol for the exchange of loan
processing data for FFELP and Alternative
loans among schools and service providers.
– Standards are defined by NCHELP Electronic
Standards Committee.
• NCHELP website: http://www.nchelp.org/
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Benefits
• XML Technology
– eXtensible Markup Language provides greater
flexibility in record processing and is MUCH easier to
read then fixed format files.
– Fixed Format Sample:
• JIMMYPAGEY123456789531STAIRWAYDRIVEALEXANDRI
AVA223140000202123
– XML Sample
• <SSN>123456789</SSN>
• <BirthDate>1982-03-04</BirthDate>
• <LastName>PAGE</LastName>
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School Benefits
• Borrower initiated processing
– preferred flow at many institutions
• Cut down on redundant data entry
• Use of XML
– human readability
• Closer to a virtual office
– Enables move to real time processing in the
future
• There are times this is needed on every campus!
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CRC Benefits
continued (example)
• Fewer File Transmissions
– Using CRC, Loan Requests and Changes are
combined into one Request transmission.
Previous CL versions required two separate
file transmissions.
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CRC Benefits
continued
• School Certification Requests
• These are initiated when a borrower submits a
loan request directly to the service provider. The
service provider collects the data submitted by
the borrower and transmits a certification
request to school.
• These requests are available in CL4 but much of
the processing was manual in most ERP
systems. With CRC, many of the steps have
been automated.
• Here’s an example:
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CRC Benefits
continued (example)
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FAMS Vendors
Things to Consider
• With so many changes in legislation,
CommonLine Version 4/5 will mandate
drastic changes
– Consider moving before it is necessary
– Will allow flexibility without a lot of
programming changes
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Schools
Things to Consider
• … In Planning to Implement CRC
– To be considered Common Record
CommonLine compliant, the current version
must be supported as well as CommonLine
Release 4. This applies only to participants
who previously adopted Release 4 and are
now implementing CRC.
– Talk with your loan service providers to
understand their options to support CRC
processing.
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Things to Consider
example
5th Annual Conference
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Things to Consider
example
The University of
Virginia
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• Founded in 1819 Thomas
Jefferson
• Enrollment, 2007-08
–
–
–
–
13,636 Undergraduate
4,830 Graduate
1,724 Law & Med
644 On-Grounds CE
• 20,834 Total
• Students come from 48
states and 109 foreign
countries.
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The University of
Virginia
• Made up of 10 schools in Charlottesville,
VA plus the College at Wise in SW Virginia
• 51 bachelor's degrees in 47 fields
• 83 master's degrees in 66 fields
• 6 educational specialist degrees
• Law, Med, Darden (Grad Business)
• 59 doctoral degrees in 58 fields
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• 69% Virginia
residents
• 46% Living in
• University housing
• 19.7 years = Avg UG
student age
• 55 percent women;
45 percent men
The University of
Virginia
5th Annual Conference
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The University of
Virginia
• Combined FA and SF operations
• 84.2% 4-Year graduation rate (entering class of
2003)
• 47% UG receive aid
• 07-08: 6,435 UG received aid from all sources
totaling $88.6 million.
• 43% or $38.5 million, comes from University
funds, including $8.8 million from athletics
grants-in-aid and $29.6 million from other
University sources
5th Annual Conference
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The University of
Virginia
• Use ELM Resources for loan processing
• Lender Request For Proposal
• Average indebtedness of 2006-07 graduate who
borrowed to finance education (excludes
parents' loans)
– $16,727 In-state
– $21,320 Out-of-state
• Percentage of undergraduate students in class
of 2007 receiving loans (excludes parents'
loans)
– 33% In-state
– 30% Out-of-state
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Tuition and Fees
2007-2008
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Implementation
• Going live for CRC on Oracle’s PeopleSoft
Campus Solutions Release 9.0
• 6 careers – 5 aid eligible
• Admissions – Live with prospects NOW
• Financial Aid – Live with university app in
November 2008
• Oracle’s PeopleSoft Campus Solutions
fully live for 2009-2010
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Why CRC?
Borrower initiated
processing
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Loan Processing
Flow
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Borrower-Initiated
Flow
• Student or parent links to lender web-site via
jump page from UVA web-site
• Student or parent applies for PLUS or alternative
loan
– Lender approves or denies loan
– Student/Parent signs MPN
• Lender sends approvals (with borrower request
amount) AND denials to ELM (separate files)
• UVA loads approved loans for school
certification and references report on denied
PLUS loans
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Vendor Support
• System is fully capable of processing Direct
Loan and FFELP simultaneously … thank you to
our friends in Oracle development!
• Sallie Mae – ready now; has tested with
PeopleSoft
• ELM plans to have CRC available with its
ELMNet4 release later this year. Current
schedule:
– Beta Testing - summer 2008
– CRC Live – 4th Quarter 2008
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• Providers
– Kentucky Higher
Education Assistance
Authority
– Pennsylvania Higher
Education Assistance
Authority/AES
– Sallie Mae including its
serviced guarantors
(Arkansas, Iowa, Maine, Michigan,
NELA, Oklahoma, Rhode Island, USA
Funds)
– ELM (in process)
Wells Fargo (in process)
Implemented
• F.A.M.S.
–
–
–
–
Oracle’s PeopleSoft
Sigma Systems
Wolffpack
Datatel (in process)
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Q&As