Acquisition Will Expand Clearinghouse Institutional Services and Preserve Important Financial Aid Tool
HERNDON, Va. Feb. 7, 2011 Herndon, Virginia
Secure access to Meteor is available at no cost to students and institutions through the Clearinghouse’s online LoanLocator® service. Meteor Network participants, such as guarantors and student loan providers, also provide access to Meteor through their own student and institutional portals. Available information includes outstanding FFELP loans and federal Direct Loans, in addition to billions of dollars in private student loans. Students and authorized financial aid professionals are presented with a consolidated view of the student’s financial aid obligation, including summary-level and detailed information on awards, repayments, and more.
During the transition, the Clearinghouse will continue to support the existing data source and user community while it considers ways to expand the platform. "Our goal is to provide as complete an integrated view of student education financing as possible," added Torres.
ABOUT METEOR AND NCHELP
Meteor [email protected]
ABOUT THE NATIONAL STUDENT CLEARINGHOUSE ®
The National Student Clearinghouse (a non-profit formed in 1993) is the unique and trusted source for higher education enrollment and degree verifications. The Clearinghouse serves as a single point of contact for the collection and timely exchange of accurate and comprehensive enrollment, degree and certificate records on behalf of its more than 3,300 participating higher education institutions, which represent over 92% of the national enrollment.
Through its verification and reporting services, the Clearinghouse saves higher education institutions cumulatively more than a hundred million dollars annually. Most Clearinghouse services are provided to colleges and universities at little or no charge, including enhanced transcript and research services, enabling institutions to redistribute limited staff and budget resources to more important student service efforts. All Clearinghouse services are operated in full compliance with the Family Educational Rights and Privacy Act (FERPA).
In addition, the Clearinghouse provides accurate FERPA-compliant verifications to student loan providers, employers, student credit issuers, student health insurance providers, the U.S. Department of Education, and others who access its registry more than 100 million times annually.
SOURCE National Student Clearinghouse