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Enrollment Reporting for Education Finance Providers

Participating in the Clearinghouse helps education finance providers eliminate paperwork, reduce default rates, and decrease servicing expenses. It immediately improves your ability to track and respond to your borrowers’ enrollment status changes, including identifying students who are eligible for:

  • Loan repayment
  • Deferment through transfer or return to school
  • Deferment extension

You can even check borrowers’ enrollment histories.

Why Join the Clearinghouse

  • Build goodwill with schools by reducing their enrollment verification and deferment workload
  • Speed conversion of “withdrawn” to “repayment” status for students
  • Save time and money by exchanging data with a single entity instead of multiple institutions
  • Provide more accurate and timely deferment processing
  • Eliminate paper deferment forms
  • Reduce delinquency contact and collection expenses
  • Reduce default rates (errors in paper enrollment certifications produce five to 10 percent of all defaults)
  •  Ability to centralize enrollment reporting through our Total Enrollment Reporting Process (TERP)

Fee Schedule

Effective June 24, 2014

Standard Fee

Each Clearinghouse guarantor/lender/servicer (except as noted below) shall be assessed a monthly participation fee equal to $0.035 times the number of matches between the Clearinghouse enrollment data and the guarantor/lender/servicer’s borrower listing, subject to a minimum fee of $125.00 per month. The fee shall be calculated by multiplying $0.035 times the sum of:

  1. The number of borrowers who attended a participating educational institution on a full-time or half-time* basis during the month and whose loans are guaranteed or serviced by such guarantor/lender/servicer, AND
  2. The number of student beneficiaries of PLUS loans who attended a participating educational institution on a full-time or half-time basis* during the month and whose loans are guaranteed or serviced by such guarantor/lender/servicer.

*Effective October 1, 2014, the fee calculation will also include three-quarter time attendance.

TERP Guarantors

Guarantors participating in the Total Enrollment Reporting Process (TERP) shall be assessed a reduced monthly participation fee equal to $0.025 times the number of matches between Clearinghouse enrollment data and the guarantor’s borrower listing, subject to a minimum fee of $125.00 per month.

Paperless Deferment Lenders/Servicers

Lenders/servicers participating in the Clearinghouse’s paperless deferment process shall be assessed a reduced monthly participation fee equal to $0.025 times the number of matches between Clearinghouse enrollment data and the lender’s/servicer’s borrower listing, subject to a minimum fee of $125.00 per month.

Other

No fee shall be assessed for enrollment data that the Clearinghouse sources from the NSLDS through TERP. Expenses for overnight postage and delivery service will be billed as incurred.

Enrollment Reporting for Student Aid Compliance

RESOURCES: