Campus Partners Update Newsletter
January 12, 2012
Holiday Closing: Martin Luther King Birthday President’s Day
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Social Security Number Change Follow-up
As you are aware, the Social Security Administration (SSA) has now started assigning Social Security Numbers (SSN) in previously unused numeric ranges, including the range beginning with the number “8.” As a result, we must update our servicing system edits and allow loans with SSNs beginning with the number “8” to successfully load to the system and be recognized as a valid SSN. The scheduled release date for this change is January 2012.
Some schools have been assigning a pseudo SSN that begins with the number “8” to borrowers who do not have a valid SSN for a variety of reasons. However, usually these borrowers are international students who are receiving institutional loans. To avoid potential conflicts with loans being added to the system with a valid SSN beginning with the number “8,” we recommend that you follow the guidelines below when adding pseudo SSN’s for new loans when your intention is to identify a borrower without a valid SSN.
Following the guidelines listed below when assigning numbers will also prevent external reporting to the credit bureaus, NSLDS, and prohibit TRA reporting to the IRS. These numbering systems are considered invalid by the Social Security Administration so adding pseudo SSNs with at least one of these characteristics will not conflict with authentic SSNs.
• SSN beginning with the number “9”
• SSN beginning with the number “666” in positions 1 – 3
• SSN beginning with the number “000” in positions 1 – 3
• SSN containing “00” in positions 4 – 5
• SSN containing “0000” in positions 6 – 9
Campus Partners system also generates a randomly assigned account number (RAAN) to loans as they are added to our system. The RAAN number is used as part of the Account Number on all statements and correspondence mailed from our office to your borrowers.
Since our RAAN numbers begin with the number “8,” and a newly issued SSN may now begin with the number “8,” it is theoretically possible for a RAAN to be assigned to a borrower that matches the valid SSN of a different borrower. Although such a conflict is unlikely, it is imperative for you to verify the borrower’s name when you access loans on our system to ensure you are viewing the correct borrower. If the RAAN matches a valid SSN on our system for a borrower’s loan(s) held by another Campus Partner institution, you will receive a message on System III that reads, “RECORD REQUESTED NOT FOUND”. The message on System 3i will read, “No records matching criteria found. Please try again.”
We have scheduled a webinar on Thursday, January 19, 2012 at 2:00 PM Eastern that will provide you with additional details and give you an opportunity to ask questions.
If you have immediate questions regarding this process, please contact your Client Relationship Coordinator.
President Obama’s Student Loan Plan
President Obama has announced plans to help student loan borrowers reduce their student loan debt, but the plan is only applicable to Direct Loan or FFELP borrowers.
According to administration sources, the U.S. Department of Education will use negotiated rulemaking (see article below) to develop a plan to offer more generous Income-Based Repayment (IBR) terms in 2012. Regarding the more generous IBR terms, the plan would not override the current IBR program, but would operate separately.
A .5 percent interest rate reduction incentive is also being considered for borrowers who consolidate FFELP and/or Direct Loans. To be eligible, these borrowers must: 1) have received a federal loan since 2008, and 2) also receive a federal loan during fiscal year 2012.
Perkins and Health Professions borrowers are not eligible to participate in the IBR and cannot benefit from an interest rate reduction based on any consolidation of these loan types. We realize you are aware of these limitations, but we are receiving many calls from Perkins and Health Profession loan borrowers inquiring about the possibility of qualifying for these programs.
Super Committee Fails to Reach Agreement
The Joint Select Committee on Deficit Reduction or “super committee” was unable to agree on how to reduce the federal deficit by $1.2 trillion over the next 10 years. Absent an agreement, the Budget Control Act of 2011 calls for automatic budget cuts across the board to certain government programs in the 2013 fiscal year. This will give Congress approximately one year to work out an agreement before automatic budget cuts take place.
Federal Register Notice – Establishment of Negotiated Rulemaking Committee
ED published a notice in the Federal Register on October 28, 2011 announcing its intent to establish a negotiated rulemaking committee.
Tentative Perkins topics include:
• Economic hardship deferment debt-to-income provisions
• Graduate fellowship deferment eligibility
• Social security number requirement for assignment of loans
• Cancellation rate progression across categories
• School enrollment status reporting requirements
• Minimum loan period for transfer students in non-term programs.
These topics may change as negotiated rulemaking moves forward. The Federal Register notice also includes the dates, times, and locations of the committee meetings.
To read this electronic announcement and the Federal Register notice, go to:
http://ifap.ed.gov/eannouncements/110711NoticeEstablishNegotiatedRulemaking.html.
New FERPA Regulations
The Department of Education has revised its regulations governing the Family Educational Rights and Privacy Act (FERPA). The purpose of FERPA is to protect personally identifiable information (PII) from education records. The general rule is that PII from education records cannot be disclosed without written consent.
FERPA does allow two exceptions which are discussed in this general guidance document published by ED at: http://www2.ed.gov/policy/gen/guid/fpco/pdf/reasonablemtd_agreement.pdf.
PII may be disclosed without written consent for the purposes of conducting a study or an audit. Organizations can use “PII from education records to conduct the study, audit, or evaluation, but results must be published in a way that protects the privacy and confidentiality of the individuals involved,” according to the guidance from ED.
The new FERPA regulations are effective January 3, 2012 and available online at:
http://ifap.ed.gov/fregisters/attachments/FR120211FERPA.pdf.
Recent Announcements from ED
ED has also published the following guidance related to potential fraud in student aid and changes to the login process for the NSLDS web site in recent months. A brief recap follows:
Potential Fraud Guidance
ED has published Dear College Letter GEN-11-17, which provides guidance that addresses potential fraud in the Federal student aid programs at institutions of higher education that offer distance education programs. This letter also provides immediate steps that schools can take to detect and prevent fraud. To read this DCL, go to: http://ifap.ed.gov/dpcletters/GEN1117.html.
NSLDS Web Site Login Process Changed
ED also has announced a change to the login process for NSLDS. Instead of using your NSLDS user ID and password, you will need to use the ID and password associated with access to the Federal Student Aid system. If you currently do not access the FSA systems, you will need to follow the instructions outlined in this NSLDS Technical Update. To view this announcement and the NSLDS Technical Update, go to: http://ifap.ed.gov/nsldsmaterials/LLS201105TechUpdate.html.
Campus Partners is celebrating anniversaries of 45, 40, 35, and 30 years with the following customers this quarter. Customers reaching other milestone anniversaries this quarter are listed in the attachment.
45 Years
Columbia College
Southern Wesleyan University
40 Years
Champlain College
Gardner-Webb College
Goddard College
35 Years
Nyack College
St. Thomas Aquinas College
Sullivan County Community College
University of North Carolina at Pembroke
30 Years
Regis College
University of Texas at Arlington
Attachment: Long-Term Customer Anniversaries
Web Conferences
Web conferences are a great way to receive training without leaving your office--and they are free of charge. Please email Debra Pitts at dpitts@campuspartners.com to register for any or all web conferences, specifying the web conferences you plan to attend.
New Topic |
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Social Security Number Changes: What it Means to You Thursday, January 19, 2:00 PM Eastern |
2012 Web Conference Schedule
| Topic | Date |
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The Borrower Experience |
Thursday, February 9 2:00 to 3:30 Eastern |
How to Use & Interpret Reports |
Thursday, April 12 2:00 to 3:30 Eastern |
Understanding and Interpreting History |
Thursday, May 3 2:00 to 3:30 Eastern |
Cohort: What is it and How do I Manage it? |
Thursday, July 12 2:00 to 3:30 Eastern |
Understanding and Completing the FISAP |
Thursday, August 9 2:00 to 3:30 Eastern |
Special Payment Arrangements: How Can Borrowers Benefit? |
Thursday, September 13 2:00 to 3:30 Eastern |
Regulations Update |
Thursday, November 15 2:00 to 3:30 Eastern |
All About the Collections Process |
Thursday, December 13 2:00 to 3:30 Eastern |
Student Loan Workshops—2012 Schedule
The dates for Student Loan 101 and 202 workshops are listed below. Student Loans 101 is designed for recently hired student loan administrators at your school or new Campus Partners customers, while Student Loans 202 provides more advanced training. Both events offer hands-on training at individual workstations and the opportunity to ask questions and receive personal attention.
Student Loans 101 |
March 8-9; October 11-12 |
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Student Loans 202 |
June 14-15 |
Time |
Day 1: 8:30 AM to 4:00 PM |
Registration Form and Information |
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To Register
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Fax the completed registration from to Debra Pitts at 336-607-2025.
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Campus Partners Holiday Schedule for 2012
Holiday |
Day |
Date |
New Year’s Day (observed) |
Monday |
2-Jan |
Martin Luther King Jr.’s Birthday |
Monday |
16-Jan |
Presidents’ Day |
Monday |
20-Feb |
Memorial Day |
Monday |
28-May |
Independence Day |
Wednesday |
4-Jul |
Labor Day |
Monday |
3-Sep |
Thanksgiving Day |
Thursday |
22-Nov |
Day after Thanksgiving |
Friday |
23-Nov |
Christmas Eve |
Monday |
24-Dec |
Christmas Day |
Tuesday |
25-Dec |
Conference Schedule
Campus Partners staff will attend the conferences listed below. Information about other conferences will be published as more details are available.
COHEAO will hold its Annual Meeting on January 29-February 1 at the Ritz-Carlton in Washington, DC. Please visit www.coheao.org for more details.
EARMA will hold its Annual Conference on March 22-23 in Atlantic City, NJ. More information is available at www.studentabc.rutgers.edu/EARMA.
CAASLA will hold its Spring Conference on April 19-20 at the Keystone Lodge and Spa in Keystone, CO. Go to www.caaslar.org for more information.
Cutoff dates for January are listed below. Cutoff dates for 2012 are available in the attachment referenced below.
Transaction
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January 2012 |
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Last day to receive payments submitted by collection agencies |
1/26 |
Last day to receive payments and payment transmittals sent directly to the Campus Partners office |
1/30 |
Last day to make online payments and/or reverse payments |
1/31 |
Last date to receive payments at our lockbox location |
1/31 |
Date month-end processing begins |
1/31 |
Attachment: 2012 Cutoff Dates
