session c-17 national student loan database system- nslds aggregate calculations brenda seidel u.s....
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Session C-17
National Student Loan Database System- NSLDS Aggregate Calculations
Brenda Seidel U.S. Department of Education
Jim YoderVangent
Adobe Acrobat Document
The PDF embedded document is the NSLDS Aggregate Calculations Participant Workbook used by participants in this session. It also contains a blank Aggregate Worksheet for FAAs to use when hand calculating consolidation loans.
To view each Adobe Acrobat Document embedded in the various slides that follow, escape out of presentation mode and double click the Adobe Acrobat Document:
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Objectives
• Understand aggregate loan terms
• Identify loan types that impact aggregate limit calculations
• Hand calculate aggregates using NSLDS methodology
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Defining & Using Aggregates
• NSLDS Loan Terms– Outstanding Principal Balance
(OPB)– Aggregate amounts
•Aggregate Loan Information•Loan Level Aggregate Principal
Balance– Net Loan Amount
•Loan Amount less Cancellations and Refunds
• Why are NSLDS Aggregate amounts used?
Adobe Acrobat 7.0 Document
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NSLDS Aggregate Totals
Calculation Process
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Calculate Each Loan Type’s Loan Level Aggregate OPB
• NSLDS reviews loans in student’s financial aid history
• Categorizes each loan into respective loan type (e.g., Sub or Unsub)
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Calculate Each Loan Type’s Loan Level Aggregate OPB, cont.
•Three main loan groupings:
–Recent loans
–Older loans
–Consolidation Loans
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Recent Loans• May have adjustments not yet
posted
• May have additional disbursements or adjustments not yet reported to NSLDS
• Included at end of calculation as Pending Disbursements
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Recent Loans, cont.Recent loans
Period End Date
Loan Period End Date plus 90 days has not yet passed
Loan Status IA, ID, IG, IM
Aggregate Outstanding Principal Balance (Agg. OPB)
Greater of –OPB, or–Disbursed Amount
Not to exceed Net Loan Amount
Pending Disbursement
Net Loan Amount less reported amounts (Total Disb or OPB)
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Components of Recent Loans
Pending Disbursement Amount = Net Loan Amount – Disbursement Amount
Loan Status (“in school”)
Loan Period End Date + 90 Days has not passed
Greater of: Disbursement
Amount or OPB
Adobe Acrobat Document
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Hand Calc a Recent Loan
Review Student’s FAH
• Exercise #1
Adobe Acrobat Document
Determine Recent Loans Agg OPB and Pending Disbursements:
1) Find the recent loan and determine the Agg OPB. Fill in section A of the worksheet.
2) Determine the recent loans pending disbursements and fill in section B of the worksheet.
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Older LoansIncluded in Aggregate OPB calculations
Older loans
Period End Date 90 days or older
Loan Status “Open” Loan Status (i.e. OPB>0)
Aggregate Outstanding Principal Balance (Agg. OPB)
Lesser of –Net Loan Amount, or–Disbursed Amount, or–OPB
If all are greater than zero
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Components of Older Loans
Loan Status
Loan Period End Date + 90
days have passed
Lesser of: Disbursement Amount, OPB or Net Loan
Amount
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Hand Calc an Older Loan
Review Student’s FAH
• Exercise #2
Adobe Acrobat Document
Determine Older Loan’s Agg OPB:
1) Find the older loan and determine the Agg OPB. Fill in section C of the worksheet.
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Consolidation Loans (CL) & Aggregate OPB
Process to determine impact of CL on Aggregate OPB:
A. Identify underlying loans
B. Determine number of CLs & Totals
C. Determine Calculated Agg. OPBs
D. Determine CL’s Unallocated Agg. OPB
E. Calculate CL’s Combined Loans Agg. OPB
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Identify CL’s Underlying Loans
Step 1: Determine Loan Status
Loan Status is one of these: PC PN DN DP PF
Step 2: Determine Loan Status Date
Loan Status Date: ________
Is Loan Status Date within 210 days (before or after) Consolidation Loan Date? Yes No
Step 3: Underlying Loan?
If Loan Status is one listed in Step 1 and the answer to Step 2 is Yes, then loan is underlying loan.
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Identify Underlying Loans
Review Student’s FAH
• Exercise #3
Adobe Acrobat Document
Identify the underlying loans:
1) Find the consolidation loan’s underlying loans and fill in section E of the worksheet. Enter the underlying loan number and its corresponding disbursement amount.
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Consolidation Loans (CL) & Aggregate OPB
Process to determine impact of CL on Aggregate OPB:
B. Determine number of CLs & Total Amounts
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Determine Calculated Agg. OPBs
• Why is the ratio (%) important? – NSLDS determines the loan type amounts based on percentages / portions of the overall totals.
47% of the Consolidation loan is the Subsidized portion 35% of Consolidation loan is Unsub portion
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Determine Calculated Agg. OPBs
• Calculate ratio for each Loan Type - percentage of CL attributable to Loan Type
Sum of CL Disb Amts
Sum of Underlying Loans’ Disb AmtsRatio =
Adobe Acrobat Document
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Example to determine a ratio
Determine ratio for subsidized loansTotal of underlying Sub Disbursement Amounts = $18,625Total of CL Disbursement Amounts = $39,000Ratio = $18625/$39,000 = 0.47756
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Ratios for Loan Types/Amounts
Review Student’s FAH
• Exercise #4
Adobe Acrobat Document
Determine totals to get your ratios:
1) Determine the totals for the underlying loan disbursements in section E of the worksheet.
2) Fill in the amounts for each consolidation loan in section D of the worksheet, and then total the disbursement amounts.
3) In section F, determine the Subsidized amounts and fill in columns 2 through 4. Do the same for the other loan types in sections G and H.
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Example of applying ratios Determine ratio for subsidized loans
Total of underlying Sub Disbursement Amounts = $18,625Total of CL Disbursement Amounts = $39,000Ratio = $18625/$39,000 = 0.47756
• Determine Calculated Subsidized Aggregates(Ratio CL Agg OPB Amount)
– Calculated Subsidized Aggregate for CL #4= $8,119(0.47756 $17,000)
– Calculated Subsidized Aggregate for CL #5= $10,506(0.47756 $22,000)
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Determine Calculated Agg. OPBs
• Determine each Loan Type’s Calculated Agg. OPB amount for each CL
Aggregate = Ratio CL Agg. OPB Amt
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Apply Ratios to Loan Types
Review Student’s FAH
• Exercise #5
Adobe Acrobat Document
Apply the ratios to each loan type:
1) In section F, fill in column 5 then multiple the ratio for each consolidation loan to get their individual Subsidized calculated amounts. Do the same for the other loan types in section G and H. Total each sections calculated amounts.
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Calculate CL Unallocated Amounts
CL Agg. OPB Amt (Older Loan)
- Total Perkins Share
- Total PLUS Share
- Calculated Sub Aggregate OPB
- Calculated Unsub Aggregate OPB
= Calculated Consolidation, Unallocated Aggregate OPB for CL
Adobe Acrobat Document
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Aggregate OPB
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Sum Loan Level Agg. OPBs by Loan Type
• Collect all loan level Agg. OPB numbers
• Roll individual calculated numbers into respective loan types
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Sum Loan Level Agg. OPBs by Loan Type, cont.
• Add in respective loan type’s pending disbursements
• Display each loan type’s Aggregate OPB Totals in Aggregate Loan Information section
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Subsidized Loan Aggregate Calculation Components
Subsidized OPB- Loan Types(from Loan Summary- Agg. OPBs) FFEL Subsidized (SF)
Recent or Older Loans Direct Stafford Subsidized (D1)
Recent or Older Loans Direct Consolidation Subsidized (D6)
Calc’d Sub Amounts FFEL Consolidation (CL)
Calc’d Sub Amounts
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Unsubsidized Loan Aggregate Calculation Components
Unsubsidized OPB- Loan Types (from Loan Summary- Agg. OPBs)• FFEL Unsub Supplemental Loan (SL)
• Older Loans Federally Insured (FISL) FFEL Refinanced Loan (FI)
Older Loans Direct Stafford Unsubsidized (D2)
Recent or Older Loans Direct Consolidation Unsubsidized (D5)
Calc’d Unsub Amounts FFEL Consolidation (CL)
Calc’d Unsub Amounts
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Evaluate Totals for Eligibility
=+
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Adding up the Agg. OPBs
Review Student’s FAH
• Exercise #6
Adobe Acrobat Document
Adding up the Agg OPBs to get your Aggregate Totals and compare them to loan limits:
1) Determine the unallocated amounts for each consolidation loan by filling in the totals in section J of the worksheet.
2) Determine Mary’s aggregate total information by filling in the totals in section K of the worksheet. Add up each section’s total amounts, by the respective loan types.
3) Compare the Subsidized and Combined totals to the loan limit chart to determine which two warning icons Mary would receive when displaying her NSLDS Financial Aid History web page.
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Additional NSLDS Resources
• NSLDS for Financial Aid Professionals
http://nsldsfap.ed.gov
• Information for Financial Aid Professionals (IFAP)
– Dear Colleague Letter GEN-96-13
– Dear Partner Letter GEN-03-12
– NSLDS Newsletters
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We appreciate your feedback andcomments. We can be reached at:
NSLDS Customer Service• Phone: 800-999-8219• Fax: 785-838-2154• Web: www.nsldsfap.ed.gov• Email: [email protected]
Contact Information