Single Sign-on for Loan Servicing Data

& Repayment Services

• Presented by:– Tim Cameron

Meteor Project Manager

National Student Clearinghouse

The need for The need for Single Sign-onSingle Sign-on

• Students already have preferred account names and passwords– Between their preferred email

accounts (Gmail, Yahoo, etc) , Facebook and Twitter they are already managing multiple User Id’s and Passwords

– We are asking them to add at least 4 if not more. (Inst. Email, LMS, SIS, and Fed PIN for Aid recipients)

School perspective:

• Faculty/Staff access multiple systems– Inst. Email, SIS, LMS, Tech Support,

Calendering.– Plus they have their personal

accounts similar to students

School perspective:

• Institutional IT have concerns about data security– How many Faculty/Staff have sticky

notes on their screens with their login credentials?

– Stored in a file on their computers/laptops/tablets/phones?

School perspective:

• Campus “single sign on” solutions– Using a single User Id and Password

• Access multiple campus systems – Student information systems– Learning management systems

School perspective:

• What’s still missing?– From the Aid Office perspective,

students must also maintain their Federal sign on’s for access to FAFSA on the web, DL, NSLDS, and for the Federal, alternative and campus based loan servicers.

School perspective:

Single Sign-on in Single Sign-on in Financial AidFinancial Aid

• “Split Borrowers”• Students with loans serviced at multiple

loan servicers• FFELP• Put Loans• Direct Loans• Alternative Loans• Institutional Loans

• Historically, these students have more difficulty in successfully repaying their debt

Growth of Split Servicing

•The School Dilemma• Multiple Federal servicers• Existing $500 billion in outstanding FFELP loans• Alternative loan servicers• Even if their students have a SINGLE servicer,

the school will still need to interact with multiple organizations within each loan program• Multiple user ID’s and passwords• Non-aggregated information• Different display formats and navigation

Growth of Split Servicing

Obtain Loan Locations

User enters website

User enters UserID and Password

Authentication

User enters website

User enters

NSLDS

User enters website

User enters UserID and Password

User enters UserID and Password

User enters UserID and Password

FFELP LoanServicer

Direct LoanServicer

PUT Loan Servicer

User enters website

User enters UserID and Password

Alternative Loan Servicer

Data Provider 1

Data Provider 2

Data Provider 3

User enters Access

Provider’s website User enters

UserID and Password

Access Provider

Data Provider 4

About Meteor

• Non-proprietary, open source software • Secure login• Real-time access to data• Aggregated information from multiple

databases

• Free service to schools and students• Funded by loan holders, guarantors, and

servicers

• Technology solution to enhance web services

Data Overview

• Detailed listing of loans– Loan status– Original and current award amounts– Summarized repayment information by servicer– Repayment plan type– Interest Rate– Next payment due– Detailed payment, deferment and forbearance

history– DAR, Claim and Default information– Contact information and custom message

capabilities

• Accurate, real-time information       • Ease of access

• One stop location for the Student/Borrower to sees a list of all their loans• Aggregated data in a single view

• Streamlined credential management

• More likely to remember loan status, holder, etc.

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Benefits for Students

• Single sign-on• Real-time, aggregated loan data

• Provides the most current and accurate information available

• Full scope of student's history in one location • Front-end financial aid history

screening• Back-end default management

research 16

Benefits for Schools

Campus Based Campus Based AuthenticationAuthentication

Campus-Based Authentication

• Schools serve as authentication agents.

• Student’s campus issued credentials are used to access Meteor and other Clearinghouse services.

Meteor Custom Installation:

USA Funds Loan Solutions

Meteor Custom Installation:

Northstar RepayReady

RepayReady

Tools and resources to help borrowers understand their repayment options and prevent default

RepayReady

The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.

Creating a Strategy

The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.

Creating a Strategy

The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.

The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.

The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.

The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.

Pre-populated Request Form

The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.

• Integrating student financial aid data into new and existing online service– Award letters– Delinquency management tools– Enhanced financial literacy

Using Data to Enhance Services

For More Information….

• www.MeteorNetwork.org

– Audio presentation– Interactive demonstration– Implementation information– Current provider lists– User Guide and other

documentation

Contact Information

–Tim CameronMeteor Project ManagerNational Student Clearinghousecameron@studentclearinghouse.org

National Student Clearinghouse, Meteor

& Mapping Your Future User Group Meeting

2011 FSA ConferenceTuesday, November 29 – Friday, December 2, 2011

Las Vegas, NV

Please join us…..