Managing delivery of exit records to guarantors or NSLDS
Regulations require that schools send Direct Loan and Direct PLUS exit counseling records to guaranty agencies and the Direct Loan Program within 60 days of the borrowers completing counseling. Mapping Your Future’s ExitExpress allows you to meet this requirement easily:
- Guaranty agencies that sponsor Mapping Your Future provide a service to you, retrieving exit records for borrowers with loans in the Federal Family Education Loan Program (FFELP). You still are responsible for ensuring the guaranty agencies do so on time (details below).
- You can easily export Direct Loan and Direct PLUS exit records for Direct Loan borrowers in the NSLDS Exit Counseling Submittal Template. You should then upload them to NSLDS (details below). (As an alternative, you can print records and mail them to the Direct Loan Program.)
ExitExpress offers you several benefits:
- Saves staff time and other resources in the financial aid office
- Increases the security of exit counseling data
- Enhances the exit data process by making it more efficient for all parties involved
- Aids in default prevention efforts through more accurate and up-to-date information
Ensure guarantors retrieve data
You ARE still responsible for ensuring the guaranty agency retrieves their exit data within 60 days of the borrower completing counseling. You have several options for determining this in your Access Area:
- Guarantor Exception Report: Run this report to determine which FFELP exit records guarantors have not retrieved. To access the report, login and click on ExitExpress.
- If a guarantor has not retrieved records and the 60-day deadline is approaching, Mapping Your Future recommends you print the record and mail it to them.
- Counseling records for which Mapping Your Future can't match a guarantor will appear in the No Guarantor Found for This SSN or Date of Birth or No Response from the Clearinghouse sections of the Guarantor Exception Report. Correct these records so guarantors can retrieve them (details below).
- Guarantor Rejection Report: Run this report to see exit records guarantors have rejected, indicating they didn’t guarantee loans for the borrowers. To access the report, login and click on ExitExpress. Add the correct guarantors to the records (instructions below) so those organizations can retrieve them, or manually send the records to the correct guarantors.
- Individual confirmations: You can determine if the guarantor has retrieved the exit record by looking at individual confirmations. An asterisk and a date indicate when the selected guarantor retrieved the report.
Correct a record or add a guarantor to a record
Counseling records for which Mapping Your Future can't match a guarantor will appear in the No Guarantor Found for This SSN or Date of Birth or No Response from the Clearinghouse sections of the Guarantor Exception Report.
- You should compare the counseling record with your records to determine the correct information.
- If you determine that the SSN or date of birth should be updated on the counseling record, send an e-mail message to email@example.com including the confirmation number and the information to be updated, asking the Mapping Your Future staff to make a change. Please don't send a full SSN via e-mail. Instead, you can e-mail the confirmation number and just the digits that need to be corrected (such as the first three) or simply ask a staff member to contact you to obtain the correct information.
If Mapping Your Future has corrected an exit record, an incorrect guarantor is assigned, or if no guarantor is assigned, you can update that information by adding the correct guarantor for that borrower:
- Open the individual confirmation record
- Click on the Add/Editor Guarantor for record link
- Another window will open
- Select the Add Guarantor button at the bottom of the page
- Select the appropriate guarantor from the drop-down menu
- Click the Update button
- Click Close Window in the top right corner or at the bottom of the page
If the record was previously listed under problem categories such as Guarantor Not Found or No Response from Clearinghouse, once you have confirmed the record is listed appropriately under the guarantor(s), you can click to remove the record from the problem category.
Retrieve exit records for Direct Loan Borrowers
Run the Guarantor Exception Report to determine which Direct Loan exit records you need to send to the Direct Loan Program. Click the "Create file for NSLDS upload" link under the "Exit records available for NSLDS upload" category on the report to request these records in the NSLDS Exit Counseling Submittal Template.
NOTE: Previously this category on the report was named "DEPT OF EDUCATION - DIRECT LOANS/NSLDS." Due to the timing of changing the logic behind this report, you may have records under both "DEPT OF EDUCATION - DIRECT LOANS/NSLDS" and "Exit records available for NSLDS upload." Records may only need to be exported from one of these categories. Once you export the records and flag them as retrieved, the records no longer will appear under the "Exit records available for NSLDS upload" and/or "DEPT OF EDUCATION - DIRECT LOANS/NSLDS" category on the Guarantor Exception Report.
After exporting records via this process, you must upload them to NSLDS to satisfy the requirement to make Direct Subsidized, Direct Unsubsidized, and Direct PLUS exit records available to the William D. Ford Federal Direct Loan Program. See ifap.ed.gov/eannouncements/0329NewExitCounselingToolNSLDS.html for more details on how to upload records. Some records may reject if student data does not match NSLDS. In this case, you can correct the record on the NSLDS submittal template and resubmit the record.