Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor...
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Transcript of Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor...
![Page 1: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/1.jpg)
Single Sign-on for Loan Servicing Data
& Repayment Services
• Presented by:– Tim Cameron
Meteor Project Manager
National Student Clearinghouse
![Page 2: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/2.jpg)
The need for The need for Single Sign-onSingle Sign-on
![Page 3: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/3.jpg)
• 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:
![Page 4: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/4.jpg)
• Faculty/Staff access multiple systems– Inst. Email, SIS, LMS, Tech Support,
Calendering.– Plus they have their personal
accounts similar to students
School perspective:
![Page 5: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/5.jpg)
• 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:
![Page 6: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/6.jpg)
• Campus “single sign on” solutions– Using a single User Id and Password
• Access multiple campus systems – Student information systems– Learning management systems
School perspective:
![Page 7: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/7.jpg)
• 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:
![Page 8: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/8.jpg)
Single Sign-on in Single Sign-on in Financial AidFinancial Aid
![Page 9: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/9.jpg)
• “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
![Page 10: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/10.jpg)
•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
![Page 11: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/11.jpg)
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
![Page 12: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/12.jpg)
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
![Page 13: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/13.jpg)
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
![Page 14: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/14.jpg)
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
![Page 15: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/15.jpg)
• 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.
15
Benefits for Students
![Page 16: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/16.jpg)
• 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
![Page 17: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/17.jpg)
Campus Based Campus Based AuthenticationAuthentication
![Page 18: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/18.jpg)
Campus-Based Authentication
• Schools serve as authentication agents.
• Student’s campus issued credentials are used to access Meteor and other Clearinghouse services.
![Page 19: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/19.jpg)
![Page 20: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/20.jpg)
![Page 21: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/21.jpg)
![Page 22: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/22.jpg)
![Page 23: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/23.jpg)
![Page 24: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/24.jpg)
Meteor Custom Installation:
USA Funds Loan Solutions
![Page 25: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/25.jpg)
![Page 26: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/26.jpg)
![Page 27: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/27.jpg)
![Page 28: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/28.jpg)
![Page 29: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/29.jpg)
Meteor Custom Installation:
Northstar RepayReady
![Page 30: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/30.jpg)
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.
![Page 31: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/31.jpg)
Creating a Strategy
The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.
![Page 32: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/32.jpg)
Creating a Strategy
The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.
![Page 33: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/33.jpg)
The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.
![Page 34: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/34.jpg)
The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.
![Page 35: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/35.jpg)
The image on this page is the proprietary property of NorthStar Capital Market Services and may not be utilized without permission.
![Page 36: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/36.jpg)
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.
![Page 37: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/37.jpg)
• Integrating student financial aid data into new and existing online service– Award letters– Delinquency management tools– Enhanced financial literacy
Using Data to Enhance Services
![Page 38: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/38.jpg)
For More Information….
• www.MeteorNetwork.org
– Audio presentation– Interactive demonstration– Implementation information– Current provider lists– User Guide and other
documentation
![Page 40: Single Sign-on for Loan Servicing Data & Repayment Services Presented by: –Tim Cameron Meteor Project Manager National Student Clearinghouse.](https://reader035.fdocuments.us/reader035/viewer/2022062314/56649ef05503460f94bffe41/html5/thumbnails/40.jpg)
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…..