Post on 03-Jan-2016
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…..