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• Relocation of FAFSA's Gender Question
• Updated Spanish Deferment Forms Now Available
• Upcoming Learning Links Webcast to Cover FAFSA Verification and Codes of Conduct
• Dollars and Sense
• Compliance Corner
• Tools for Schools
• Did You Know...
• Team NSLP: Recruiting Winners
• Calendar of Events
• This and That and On That Note
• Subscribe to Newsbriefs

RELOCATION OF FAFSA'S GENDER QUESTION
On February 27, the Department of Education (ED) updated the FAFSA on the Web to move the "Are you male or female?" question to a more visually prominent location below the "date of birth" question. The ED announced on February 26 that the change was being made as a result of a significant increase in the number of applicants leaving the question blank on the 2010-2011 form, resulting in a “C” code error that postsecondary institutions are required to resolve.

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UPDATED SPANISH DEFERMENT FORMS NOW AVAILABLE
The Department of Education (ED) released updated versions of the Spanish-language loan deferment forms. The ED noted that use of the forms is optional. NSLP offers the updated forms on the NSLP Web site on the Order Products: Download Products page available through the Schools and Lenders tabs.

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Dollars and Sense

NSLP's Financial Literacy team — experts on money management issues — provide helpful tips for your students in each edition of Dollars and Sense.

MANAGING YOUR MONEY ONLINE
As you have undoubtedly begun your financial plan for 2010 and realized tax season is under way, you may be ready to try new money management tools. Financial Literacy Online is a comprehensive and convenient online learning center that teaches the basics of personal money management. Courses are geared toward students who are planning for college, enrolled in college, ready to graduate, or recent graduates; however, anyone who wants to learn about money management may take the courses. Visit the Financial Literacy Online Web site for more information.

If you need help budgeting, setting financial goals, and keeping track of monthly bills, any one of these Web sites may also help you create your family’s financial plan:

• Mint
• Wesabe
• ManageMe
• Geezeo
• Buxfer
• PearBudget

If you need financial advice from professionals or wish to communicate with others (anonymously) about your personal financial decisions, visit Wesabe or Geezeo. Check out Smartypig, a virtual piggy bank to keep your savings on track, if you want help setting a savings goal or need an online savings account. For help getting out of debt, setting financial goals, or investing, visit Geezeo or Thrive.

However you choose to keep track of your personal finances, remember to set achievable goals, stick to your budget, and save for a rainy day!

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Compliance Corner

Compliance Corner is a recurring feature highlighting recent questions from schools and lenders. Read what your colleagues are asking, and find answers to questions you may have.

Q. Effective July 1, the Higher Education Opportunity Act (HEOA) requires schools, school-affiliated organizations, and lenders with a preferred lender arrangement to disclose certain information about private education loans and Stafford loans. This information must be made available to the public as well as the school’s current and prospective students and their families. Has the Department of Education published this model disclosure form for the annual reporting requirement?

A. No, ED has yet to publish this model disclosure form. This requirement cannot be fully implemented until this form is published. Continue to watch Newsbriefs for updates on this form.

Tools for Schools

Helpful tips that really make a difference for schools.

MONITORING NSLDS LOANS ENTERING REPAYMENT COULD BE BENEFICIAL
While reviewing your FY08 draft cohort default file, you may wonder, “What can make me more confident about the accuracy of the file’s data?”  One way is by using NSLDS’ Date Entered Repayment Report (DER001). This report displays borrowers who, according to NSLDS:

• Are enrolled at your school.
• Entered or will enter repayment in a date range you specify. 

You can request a hard copy of the report and scan your listed borrowers. If you expect a large number of borrowers, however, consider requesting an extract file.  The extract file can be parsed and electronically compared to borrowers your FAM system indicates should be entering repayment.

Possible situations you could encounter include:

• You show a borrower should be entering repayment but the DER001 report does not list the borrower. 
  • You discover the student transferred to another school, which explains why the student is not in your DER001. If this is the case, at a minimum you identified one borrower who will fall into a future cohort. You also supplemented your institution’s information about the student’s continuing education. 
• The DER001 includes a borrower who your records indicate should not be entering repayment on loans obtained to attend your school. 
  • NSLDS did not receive an update to reflect continued enrollment of the borrower at your school. Your institution can follow up by providing updated information to NSLDS and prevent your borrower from receiving confusing letters about owing payments on the loan. You should also confirm enrollment-reporting procedures with the appropriate office on your campus.
  • The student enrolled at your school more than six months after having left a prior school for which they borrowed a student loan. The student needs an in-school deferment from your institution so they do not have to worry about loan payments and schoolwork.  Again, verify your enrollment reporting procedures to ensure the borrower is properly reported as being in school at your institution. 

Researching and appropriately fixing any discrepancy between your systems and the DER001 should provide you some comfort about data quality in your cohort files. After all, you reduced your workload because you already took care of some potential problems. 

For more information about the report’s data, refer to the Department of Education’s documentation. To understand other benefits this report can offer, NSLP continues to analyze the report’s data. If you have additional questions on the report’s capabilities, contact Kent Wolfe by e-mail or at 1-800-735-8778, ext 6940. 

Did You Know...

NSLP and the Association for Financial Counseling and Planning Education (AFCPE) are partnering to provide the Accredited Financial Counselor Program to financial aid professionals. Learn more about the benefits of becoming an accredited financial counselor. 

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Team NSLP: Recruiting Winners

At various times, NSLP scouts for qualified candidates to join its winning team. Learn more about NSLP and career opportunities online, or contact Human Resources for more information.

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Calendar of Events

View our calendar of events to find NSLP's Business Development team exhibiting and presenting at an upcoming event in your area. Stop by our booth or call 800-735-8778, ext. 6618 for a personal consultation to learn how you can streamline your student loan process.

This and That...

After a 27-year absence, Betty Rubble made her debut as a Flintstones Vitamin in 1996. 

On That Note...

"He who fears being conquered is sure of defeat."
-Napoleon Bonaparte

Questions or Comments?

If you have questions or comments, contact NSLP Customer Service at 800-735-8778, ext. 6300 or by e-mail at nslpcs@nslp.org.

Subscribe to Newsbriefs...

You can subscribe to Newsbriefs online at Connect with NSLP or by sending an e-mail with your name, organization, address, phone and fax to newsbriefs@nslp.org. To unsubscribe, e-mail newsbriefs@nslp.org.

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NSLP is a private non-profit guarantor of loans made under the Federal Family Education Loan Program. This publication is intended to provide NSLP's clients with current information on guarantor policies and procedures. The information is not intended to be legal advice. NSLP disclaims all responsibility for any claim arising from reliance on the information provided. Direct questions, copy requests, or address changes to: NSLP Customer Service P.O. Box 82507, Lincoln NE 68501-2507 phone 800-735-8778, ext. 6300   402-475-8686 fax 402-479-6658  e-mail nslpcs@nslp.org

Editors: Christian Wilbeck and Amanda Boltz

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