During the in-school, grace, and in-school deferment periods, guarantors and the U.S. Department of Education, monitor the enrollment status of the borrower, or the student on whose behalf a parent has borrowed a PLUS loan, to determine whether the student is maintaining continuous enrollment on at least a half-time basis. This is done via the National Student Loan Data System (NSLDS®). As a result, schools are required to supply enrollment information for students.
Student enrollment status reporting is an important part of student loan servicing since lenders and/or servicers rely on this information to properly track the status of borrowers’ enrollment when servicing Federal Family Education Loan Program (FFELP) loans. In an effort to streamline the enrollment reporting process, the National Student Clearinghouse (The Clearinghouse) has enhanced enrollment reporting. ISAC is pleased to be the first guarantor to participate in this enhanced process known as the Total Enrollment Reporting Process (TERP).