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 ClearinghouseŽ
The National Student Clearinghouse (a non-profit formed in 1993) is the
unique and trusted source for higher education enrollment and degree
verifications. The Clearinghouse serves as a single point of contact for the
collection and timely exchange of accurate and comprehensive enrollment, degree
and certificate records on behalf of its more than 3,300 participating higher
education institutions, which represent over 92% of the national enrollment.
Through its verification and reporting services, the Clearinghouse saves
higher education institutions cumulatively more than a hundred million dollars
annually. Most Clearinghouse services are provided to colleges and universities
at little or no charge, including enhanced transcript and research services,
enabling institutions to redistribute limited staff and budget resources to more
important student service efforts. All Clearinghouse services are operated in
full compliance with the Family Educational Rights and Privacy Act (FERPA).
In addition, the Clearinghouse provides accurate FERPA compliant
verifications to student loan providers, employers, student credit issuers,
student health insurance providers, the U.S. Department of Education, and others
who access its registry more than 100 million times annually.
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
