Press Release
New Hampshire Higher Education Assistance Foundation (NHHEAF) Goes Live
With Clearinghouse TERP Service
HERNDON, VA, May 17, 2005 - The National Student Clearinghouse today
announced that the New Hampshire Higher Education Assistance Foundation (NHHEAF)
has become the latest student loan guarantor to go live with its Total
Enrollment Reporting Process (TERP). To date, 14 guarantors, representing
more than 50% of the nation's FFELP guaranteed student loan volume, are live with TERP.
In addition to NHHEAF, TERP participants include:
- Connecticut Student Loan Foundation (CSLF)
- Education Assistance Corporation (EAC)
- Georgia Higher Education Assistance Corporation (GHEAC)
- Great Lakes Higher Education Corporation (GLHEC)
- Illinois Student Assistance Commission (ISAC)
- Kentucky Higher Education Assistance Authority (KHEAA)
- National Student Loan Program (NSLP)
- North Carolina State Education Assistance Authority (NCSEAA)
- Northwest Education Loan Association (NELA)
- South Carolina Student Loan Corporation (SCSLC)
- Student Loan Guarantee Foundation of Arkansas (SLGFA)
- Tennessee Student Assistance Corporation (TSAC)
- United Student Aid Funds (USA Funds)
TERP, a cooperative industry initiative supported by NCHELP and SLSA,
centralizes enrollment reporting and creates a single and reliable source of
enrollment data for loan guarantors and servicers. Participants designate
the Clearinghouse as their sole agent for all enrollment reporting
activities, including collecting enrollment information from NSLDS, the
Department of Education's national student aid database, and distributing
enrollment information to applicable lenders and servicers. Conflicting and
redundant data are eliminated, making loan processing simpler and more
accurate.
All of the nation's guarantee agencies belong to the Clearinghouse,
which provides them with reports on the enrollment and deferment status of
financial aid recipients. Guarantors pay a monthly fee to the Clearinghouse
based on the number of their borrowers who are in attendance at
participating Clearinghouse colleges and universities. Guarantors that
participate in TERP receive a 22% discount on their Clearinghouse fee.
Participation in TERP is free.
For more information on TERP, visit www.studentclearinghouse.org/gls/terp.htm.
The list of guarantors that participate in the Clearinghouse is available at
www.studentclearinghouse.org/gls/guarantors.htm.
About The National Student Clearinghouse
The National Student Clearinghouse is the most trusted source for enrollment
and degree verification in the U.S. A non-profit organization founded in
cooperation with the higher education community in 1993, the Clearinghouse
serves as a central repository and single point of contact for the collection
and timely exchange of accurate, comprehensive enrollment, degree and
certificate records on behalf of participating institutions.
More than 3,300 colleges, enrolling 92% of US college students, participate
in the Clearinghouse. Student loan providers, employers, student credit issuers,
student health insurance providers, the U.S. Department of Education, and others
access the Clearinghouse's registry over 100 million times annually to conduct
electronic student record verifications. In addition, the Clearinghouse provides
educational research services to both secondary and postsecondary institutions
that provide insights on student access, transfer, permanence, and graduation
rates.
Most Clearinghouse services are provided to colleges and universities at
little or no charge, enabling institutions to redistribute limited staff and
budget resources to more important student service efforts. Its services are
designed to work for institutions of any size, from those with fewer than 500
students to those with enrollments exceeding 35,000. Cumulatively, institutions
have saved millions of dollars by participating in the Clearinghouse. The
success of the Clearinghouse's customer-oriented approach was recognized in a
fall 2008 survey of its institutional participants wherein 92% said they would
recommend the Clearinghouse to other educational institutions.
For more information, visit www.studentclearinghouse.org.
For Questions About This Press Release Only, Contact:
Kathleen Dugan
Marketing Director
703-742-4208
dugan@studentclearinghouse.org
For Help With or Questions About Any Clearinghouse Service, Contact:
703-742-4200
service@studentclearinghouse.org
