Meteor General Information May 16, 2006

2 Types of Data Available Meteor –FFELP –Alternative/Private Loans –State Grants & Scholarships (Summer 2006) –Perkins (In development) –Direct Loans (Planned) –Pell Grants (Planned)

3 Who Can Access Meteor? Meteor –Federated Model: Transitive Trust –Multiple points of access User Roles –School –Student/Borrower –Customer Service Representatives –Lenders

4 Use of data approved by FSA FSA approval for use of real-time data –Collaborative effort to bring about change to the requirements for schools to solely rely on NSLDS –Allows schools to resolve discrepancies by using real time data that comes directly from the loan holders databases

5 “In my 15 years of Default Management training, I have not seen a more efficient product for viewing borrower data than Meteor. The access to timely data for borrowers that Meteor provides is extremely necessary for school's to efficiently manage their Default Rates.” Clemente P. La Pietra Loan Servicing Manager Monroe College

6 Clearinghouse as Meteor Index 100% of FFELP guarantee volume Over 5.6 million Direct Loan Program accounts Over 13.2 million FFELP servicer accounts Over 1.6 million Perkins/Private/Alternative Loan servicer accounts (including some managed by schools themselves)

7 Meteor in Relationship to Other Industry Initiatives MeteorELMNetNSLDS Loan Origination & Change Transaction Processing N/AYes Update Capability Only Real TimeYesYes*No Access PointsMultipleSingle Authentication Methods MultipleSingle

Recently Added Functionality

9 Consolidated View School and Customer Service Use Side-by-side view of all data elements provided by all data providers

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12 Mapping Your Future MYF as an Access Provider –Provides a program and participant neutral access point to the Meteor Network –MYF provides access to nearly 2,500 schools –Borrower Implementation Over 1 million borrower counseling sessions in 2005

13 The National Student Clearinghouse NSC as an Access Provider (in development) Provides a program and participant neutral access point to the Meteor Network NSC provides access to nearly 3,000 schools Borrower Implementation

14 Meteor Customization Meteor screens can be customized to blend with the service providers current web services Meteor allows a service provider to customize the use of the data provided in the Meteor Network –i.e. MYF Exit Counseling application Not a standard Meteor implementation Customized screens Further integration is possible! Meteor software can be used in other internal applications

Meteor Support and Implementations

16 Production Support –Successful transition to the National Student Clearinghouse November 2005 Registry Support and Maintenance Help Desk Support Testing Support

17 Meteor Volume Organizations providing real-time data through the Meteor Network currently represent: –81% of FFELP Loan Guarantee Data –60 % of FFELP Loan Servicing Data –64% of Alternative Loan Data (in production or currently in development)

18 Meteor Implementations Implementation Status –Implementation Matrix –Current Providers 14 Access Providers 22 Data Providers –Planned Implementations

19 Meteor Data Providers AES/PHEAANational Student Loan Program Connecticut Student Loan FoundationNELA Finance Authority of MaineNew Hampshire Higher Education Assistance Foundation Florida Department of Education—OSFANew York Higher Education Services Corporation Georgia Higher Education Assistance Corp.Oklahoma State Regents for Higher Education Great Lakes Educational Loan Services, IncRhode Island Higher Education Assistance Authority Illinois Student Assistance CommissionSallie Mae Kentucky Higher Education Assistance AuthorityStudent Loan Guarantee Foundation of Arkansas Louisiana Office of Student Financial AssistanceStudent Loans of North Dakota Michigan Higher Education Assistance AuthorityTexas Guaranteed Student Loan Corporation Montana Guaranteed Student Loan ProgramUSA Funds

20 Meteor Access Providers AES Montana CSLF NELA Florida New Hampshire Great Lakes Rhode Island Illinois Student Assistance Sallie Mae Kentucky Texas Guaranteed Mapping Your Future United Student Aid Funds

21 Usage Statistics Meteor Usage –FAA Statistics Usage has been increasing since FSA announcement about use of real time data –Borrower Statistics –Meteor…not just an inquiry network In addition to providing access to and aggregation of financial aid award information, the Meteor software can also be used by organizations to enhance their current services. –MYF integration –Internal usage of the software at member organizations

Future Meteor Enhancements

23 Where we plan to go… FSA Ombudsman access update –Meteor has offered to provide access to the FSA Ombudsman’s staff to assist with problem resolution –Meeting with FSA staff to be scheduled for February 2006 ADvance –Meteor is continuing to monitor the progress of FSA’s systems integration initiative –Thus far, the technologies being used are the same as what Meteor has developed

24 Where we plan to go… NSC LoanLocator opt-in’s –Working with the last few organizations that have not opted into allowing NSC to provide the LoanLocator service link to Meteor for their data State Grants & Scholarships –Project team has been formed to identify enhancements required for implementation –New York HESC plans to develop the changes and donate the code to the Meteor project Perkins Loans –Continue to work with Perkins servicers and COHEAO

25 Where we plan to go… Debt management & default aversion –Collaboration with the NCHELP Debt Management Committee Student Aid Inquiry standard –PESC initiative co-chaired by Meteor and ELM Security –National Institute of Standards and Technology guidelines –Federal banking security legislation Multi-factor authentication –State security legislation Requirements for reporting security breaches Working with School Based Software Providers –SCT –Datatel