Presentation on theme: "CommonRecord: CommonLine How Implementing CommonRecord: CommonLine Can Benefit You Presented by [Enter your information here]"— Presentation transcript:
CommonRecord: CommonLine How Implementing CommonRecord: CommonLine Can Benefit You Presented by [Enter your information here]
Session Overview Common Record Background Information What is XML? Developing the CR:C Standard Benefits of Common Record: CommonLine Implementation and Next Steps
The Common Record Background Information Consistent data packet layout Across programs (Pell, DL, FFEL, Campus-based, loan counseling, transcripts, etc.) Major stakeholders (FSA, CommonLine, Meteor, AACRAO, MYF).
Standards facilitate efficiency Standards make training and cross-training easier Reduce change for the sake of change Importance of Standards
Common Record Philosophy Design a single standard Common Record Support all financial aid programs Eliminate multiple flat files Provide a simplified process for the submission of financial aid data Maintenance and enhancements managed by the Postsecondary Electronic Standards Council (PESC)
Common Record and XML: The Technology Solution Standard language of e-business and the internet. Lets the industry describe virtually any type of data. Allows easy inclusion of other student financial resource data in a single file (FFEL, ISIR, State Grant, etc.) Standardized validation of data order and content.
The Common Record Terminology Core Components Dictionary: Standard structure Naming conventions Change control oversight Schema: Defines structure and content for XML Documents
The Common Record Terminology Common Record: Common Origination and Disbursement - COD (Direct Lending) CommonLine (FFEL and Alternative Loans) Transcripts (XML Transcript) XML ISIR (future release) Loan Counseling (in development)
Flat File Structure COMMON A004TTG JOHN W. 14TH ST NEW FRANK W. 14TH ST NEW GARY W. 14TH ST NEW HARRY W. 14TH ST NEW JON W. 14TH ST NEW ROB W. 14TH ST NEW UNIVERSITY 0033
XML File Example Price NC NC394427
Common Record Structure
Whats In It for Me?
Benefits of Implementing Common Record: CommonLine Eliminate need for double data entry Flexible Disbursement Processing More than 4 disbursements Separate disbursement dates for subsidized and unsubsidized loans Ability to indicate disbursement amounts Ability to override disbursement date profiles
Benefits of Implementing Common Record: CommonLine Supports school-assigned student IDs Addresses privacy concerns Allows use among all data partners Promotes real-time processing
Benefits of Implementing Common Record: CommonLine Move from transaction-based to end-result changes Eliminates need to determine transaction type etc.) Eliminates sending multiple transactions to achieve desired result Only changed fields will be sent to your service provider
Benefits of Implementing Common Record: CommonLine Human-Readable Tags surround data Smith Plain English values vs. Codes Loan Status Information Not limited to loan phase code Future software upgrades will be easier to manage
Implementation NCHELP Electronic Standards Committee has published the CR:C implementation guide. PESC has approved the CR:C schema. Most lenders, guarantors, and servicers are in various stages of implementation and are forecasting production ready between Spring 05 to Spring 06. e-Library > Electronic Standards Documentation and Tools > Common Record - CommonLine Documentation e-LibraryElectronic Standards Documentation and ToolsCommon Record - CommonLine Documentation
Some Considerations for Schools Prioritize CR:C benefits for your office. Use priorities to evaluate implementation options. Communicate priorities to your software providers and service providers. Involvement in NCHELP Electronic Standards Committee School Advisory Group Origination Standards Advisory Team
Information Sources NCHELP - The CR:C Implementation Guide is available in the e-Library at IFAP – COD news, technical documentation, updates are available at PESC – XML Technical Specifications, Data Dictionaries, Schemas, assistance and approvals are available at XML Registry and Repository – Current schema and dictionary are available at
Contact Information [Enter your information here] Mark Putman Information Technology & Industry Standards Officer NCHELP