Enrollment Reporting has gotten complicated over the last few years and in recent years, some schools have been cited by CPAs and ED alike for deficiencies in enrollment reporting. Now, a new report from NSLDS is available to assist schools with identifying and correcting errors resulting from submission of enrollment data to NSLDS. The Enrollment Errors Report (SCHER5) provides schools with error and acknowledgement information for each enrollment reporting batch submittal processed by NSLDS.
Schools are required to correct and resubmit any enrollment reporting errors to NSLDS within 10 days and these acknowledgement files will help ensure schools are correcting and resubmitting rejected records timely. Remember, that schools that use a third-party servicer for enrollment reporting must ensure enrollment reporting errors are corrected and resubmitted by the third-party servicer within 10 days. Failure to correct errors can lower a school’s Enrollment Reporting Statistics, and could lead to action by Federal Student Aid’s Program Compliance office. http://bit.ly/2hHkDks
The collection of enrollment data is essential to the Department. It protects the rights of borrowers by ensuring that loan interest subsidies are based on accurate enrollment data. It ensures loan repayment dates are accurately based on a student’s last date of attendance. It allows in-school deferments to be automatically granted to students using NSLDS enrollment data. It provides vast amounts of critical data about the effectiveness of Title IV aid programs, including completion data.
Enrollment Reporting is required for all schools participating in Title IV aid. To assist schools in meeting reporting requirements, the National Student Loan Data System known a NSLDS provides a comprehensive guide containing step-by-step instructions for reporting enrollment information to NSLDS which is frequently updated.
The November 2016 updates to the guide include clarification on how to report enrollment data and how to add students to rosters, descriptions of new reports, information regarding reporting and retrieval of data on the Enrollment Update and Enrollment Maintenance pages, as well as a description of the new Enrollment Reporting Compliance process.http://bit.ly/2fQ6Xj1
Reporting complete and accurate program-level enrollment information to the National Student Loan Data System is critical for calculating interest subsidies as well as 150% Direct Subsidized Loan Limits. Complete and accurate reporting of a student’s academic program enrollment information includes reporting, among other things, the program’s length, CIP code, and credential level:
- For all students who are on the NSLDS Enrollment Roster;
- Who are enrolled in a program that leads to a degree or certificate; and
- Who are enrolled in certain coursework that does not lead to a degree or certificate, but for which the student may receive Title IV aid (such as preparatory coursework and certain teacher certification coursework).
Nearly all of a school’s students should have program-level information reported about them.
In particular, program length is used to determine a student’s Maximum Eligibility Period for Direct Subsidized Loans to determine whether the student might lose interest subsidy under the 150% Direct Subsidized Loan Limit. A school’s failure to timely and correctly report this information could, under the 150% limit, lead to retroactive application of the loss of interest subsidy or the improper continuance of loss of interest subsidy.
In addition, the student’s program-level enrollment status—in particular, a graduation status—is used to determine whether the student’s Direct Subsidized Loans can be protected from ever losing interest subsidy.
Information to help schools meet the reporting requirements is provided here: http://1.usa.gov/1NZqgH3
Your Registrar needs training on Enrollment Reporting. Let us customize a training program to meet your needs. Contact us today at Info@Ed-Executives.com or Call 203-836-4806