Repaid -This value means that a previously reported overpayment that was in either Overpayment or Satisfactory Arrangement Made status has been fully repaid by the student. The date that the final payment of the overpayment was made should be entered at that time. Satisfactory Arrangement Made -This value means that while the student still owes the overpayment, he or she has made arrangements that are satisfactory to the school to repay the overpayment.
In the event that the student fails to meet the commitment made with the school for the arrangements to repay, the school should immediately reset the overpayment Indicator field to Overpayment. Fraud -This value indicates that a student has been convicted of fraud.
This means that the student has been convicted of fraud, still owes the fraudulently obtained funds, and should be considered ineligible for additional Title IV aid until the funds are repaid. The code identifying where the overpayment exists. Transfer -When a school has transferred an overpayment to the U. This change does not invalidate the overpayment but it does inform any user of the system that the debt is in the process of being transferred from the school to DCS.
School -Whenever a school is attempting to add a new, or update an existing overpayment record; this field is automatically updated with SCH. ED Region -The debt is now held by one of the U. Department of Education's Debt Collection Service regional offices. The date the GA pays the holder; if the GA is the holder, the date applied to the borrowers account.
Primary Destination Point Administrator. A Title IV grant program for undergraduate students who have not completed a first baccalaureate degree. Every organization involved in the Enrollment Reporting process has a portfolio that contains all the students for whom the organization reports or receives enrollment information.
A student who belongs to an organization's portfolio is said to participate in that portfolio. All other organizations receive enrollment information from the NSLDS for the students in their portfolios. A student participates in the portfolio of an organization involved in the Enrollment Reporting process when that organization reports or receives enrollment information about the student. The Published Program Length and unit of measure for the length of the instructional program in years, months, or weeks as published by the school.
The Program Enrollment Code identifying a student's current program enrollment status. The format in which a guaranty agency, lender, or lender servicer receives batch enrollment information from the NSLDS.
A file type indicating that the file is a regularly scheduled Enrollment Reporting file. When the NSLDS sends an organization a regular file, it automatically schedules another such file for one year in the future.
File format in which the information looks and reads as a report. See also Extract Format. Indicates the type of organization that reported information displayed on Enrollment pages. The identification number of the organization that reported information displayed on Enrollment pages.
The amount of funds returned to a lender for a loan disbursed to a student who is no longer eligible due to withdrawing from courses, or never attending class for which the loan was intended.
As a Certification Method , indicates that the school certified enrollment information through the batch enrollment reporting process. See Supplemental Education Opportunity Grant. An indicator used to differentiate among multiple loans with the same loan date for the same borrower and student attending the same school. For schools that use a third-party servicer to send enrollment information to NSLDS, the name of the servicer.
For schools that use a third-party servicer, a Yes or No option indicating whether the servicer submits enrollment information for all the schools it services as a single file No or as a series of separate files Yes. The Program Effective Date, which is the date when the student's current program status first took effect. On the Enrollment Timeline page, the dates during which a set of enrollment statuses were in effect.
The validated, snapshot image of a data provider's database file that is transmitted to and updates the NSLDS database. The percentage of detail records extracted from the data provider database that contained no errors and updated the NSLDS database. A loan for which the federal government pays the interest during in-school, grace and deferment periods.
The Subsidized Usage Period is the period of time, expressed in years or portions of years, for which the borrower received a Direct Subsidized Loan. A Title IV campus-based grant program for undergraduate students of exceptional financial need who have not completed their first baccalaureate degree.
The number assigned to a user's SAIG mailbox. This is the mailbox to which all Reports are sent. The total number of detail records extracted from the data provider database for submission to the NSLDS. The Alert tells a school that new information has been reported that may affect eligibility for Title IV Financial Aid on one or more students on that school's Transfer Monitoring List.
The Inform consists of identifiers and Enrollment Begin dates for one or more students that the school has identified as Transfer students. Files can be either Ad Hoc or Regular. Uniform Resource Locator. Subsidized Loans are loans for undergraduate students with financial need, as determined by your cost of attendance minus expected family contribution and other financial aid such as grants or scholarships. Subsidized Loans do not accrue interest while you are in school at least half-time or during deferment periods.
Unsubsidized Loans are loans for both undergraduate and graduate students that are not based on financial need. Eligibility is determined by your cost of attendance minus other financial aid such as grants or scholarships. Interest is charged during in-school, deferment, and grace periods. Students providing false or misleading information may be restricted from receiving student financial assistance. Student financial assistance includes loans, grants, and repayment assistance.
In some instances, StudentAidNL may require students who received loans or grants from fraudulent or abusive actions to repay immediately. All information provided to StudentAidNL is subject to audit, including the number of dependents, marital status, the date the student left high school and financial information.
The financial information students provide to StudentAidNL is checked against information they and their parents or spouse, if applicable, have provided to the Government of Canada when submitting income tax returns. Submitting false or misleading information in relation to any application for government-subsidized student financial assistance is an offense pursuant to the Criminal Code of Canada, the Canada Student Financial Assistance Act , and the Newfoundland and Labrador Student Financial Assistance Act, To be eligible, the students must have a permanent disability, which is defined as a functional limitation:.
Refer to the Students with Permanent Disabilities section for more information. A student may have to submit their banking information twice depending on the type s of funding the student receives. Refer to Receiving Your Funds for details. The school will confirm enrollment for students in receipt of a loan and the NSLSC will update their status. Students not in receipt of a loan must confirm their enrollment and notify the NSLSC to maintain their interest-free status and keep their loans in good standing.
Students can confirm enrolment in one of two ways:. Note : Students in part-time studies will be required to make payments on their full-time loans. If the student returns to full-time studies prior to the seventh month, their previous loans will revert to interest-free status as long as the National Student Loan Service Centre is aware of their status.
Students completing their studies and entering repayment should read about Repaying Your Loan for more information. A student loan is in default when a student is behind on their payments for days nine months and collection activities are required.
Depending on the type s of loan they have defaulted on, they may need to follow two different processes to make payment arrangements and to get their loan s back in good standing. This will aid in keeping their loan in good standing. Refer to the Student Loans Repayment section for more information. A discharge from bankruptcy releases the student from their obligation to repay their student loans if they filed for bankruptcy at least seven years after the date they ceased to be a part or full-time student.
Students not meeting this rule are obligated to repay their student loan. Payments will not be required on a student loan during bankruptcy proceedings, but once the student receives their discharge, payments on the student loan will be required.
Visit You owe money — Student loans and bankruptcy — Office of the Superintendent of Bankruptcy Canada or contact the National Student Loans Service Centre at for additional information on how bankruptcy affects student loan debt. Facts and Myths From www. Application Why am I asked if I identify as Indigenous or as a visible minority on my application? Eligibility Is there assistance for shorter periods of study? Students with Permanent Disabilities Who can qualify as a student with a permanent disability?
Receiving your Funds How do I provide my banking information? Repayment Am I required to make payments on my student loan if I return to school? Determining provincial residency is a two-step process: To access student financial assistance, an individual must be a Canadian citizen as defined in the Citizenship Act , permanent resident or a protected person as defined in the Immigration and Refugee Protection Act , or a person registered as an Indian under the Indian Act.
A third option requires the borrower to provide collateral for securing the loan to the lender, repaying the outstanding balance within 30 to 90 days, and resuming monthly payments. Student Loans. Loan Basics. Retirement Planning. Home Equity. Your Privacy Rights.
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What Is a Nonaccrual Loan?
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