Thursday, July 24, 2008

 

NATIONAL STUDENT CLEARINGHOUSE PROVIDES REAL-TIME ACCESS TO STUDENT LOAN INFORMATION


Herndon, VA, July 22, 2008 -- The National Council of Higher Education
Loan Programs, Inc. (NCHELP), the Meteor Advisory Team (MAT), and the
National Student Clearinghouse (Clearinghouse) today announced that
colleges and students can now track and manage their federal and private
student loan debt through the Meteor Network. The Clearinghouse provides
colleges and students with access to 100% of outstanding FFELP loans and
federal Direct Loans, in addition to billions of dollars in private
student loans through its LoanLocator service and Meteor implementation.
The Meteor Network, a shared effort of leading FFELP business partners,
provides aggregated, real-time financial aid award data to student loan
borrowers and schools. The Clearinghouse, a non-profit organization
located in Herndon, Virginia, is the nation's trusted source for degree
and enrollment information and provides reporting, verification and
research services to and on behalf of more than 3,100 participating
colleges and universities.

Meteor, a valuable service for student borrowers and schools, continues
to grow in importance as student aid volume increases and access to
accurate and timely information becomes mandatory. As a result of recent
regulatory, legislative and program changes, the percentage of students
with multiple loan servicers is expected to increase. Meteor assists
users by providing aggregated, timely and accurate information.

The Clearinghouse's secure Web site allows financial aid directors at
participating Clearinghouse colleges and universities to access Meteor
data. Institutions enrolled in the Clearinghouse's free online Student
Self-Service program can also provide their students with access to
Meteor data. The Clearinghouse uses campus-based authentication to
enable access to Meteor and its other Student Self-Service offerings
from a college's Web site. Campus-based authentication provides greater
access to valuable debt management, default aversion, and other tools
and services by using a college's authentication process to gain access
to the Meteor Network and Clearinghouse services. Access to Meteor is
available to both institutions and students at no charge.

For more information on the Meteor Network, visit
www.nchelp.org/meteor.htm. Information on the National Student
Clearinghouse is available at www.studentclearinghouse.org.






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