Total Enrollment Reporting Process (TERP)
Our Total Enrollment Reporting Process (TERP) centralizes enrollment reporting, creating a single and reliable source for student enrollment information. It enables participating guarantors to outsource all their enrollment reporting to the Clearinghouse. We collect, check and distribute the data to guarantors and their lenders and servicers (many of whom already participate in the Clearinghouse). Reporting is more efficient and accurate for everyone.
TERP is free to Clearinghouse participants. (Guarantors that participate in TERP will receive a discount on their monthly enrollment reporting fees.) To sign up or learn more, see our TERP Start-Up Guide.
Benefits to Guarantors
- Savings on monthly Clearinghouse fees
- Automatically collects and distributes enrollment information to lenders and servicers
- Uses NSLDS enrollment reporting format — no additional programming necessary!
- Reduces enrollment data processing time by:
- Eliminating duplicate enrollment information
- Outsourcing lender/servicer enrollment reporting to the Clearinghouse
- Allows you to report data to lenders and servicers weekly instead of monthly
- Provides a national process for foreign school enrollment reporting
- Enhances service you provide to schools and borrowers by eliminating data conflicts and the resulting questions
Benefits to Lenders & Servicers
- Condenses receipt of electronic enrollment data to a single source: the Clearinghouse
- Stops inflow of redundant enrollment reporting from multiple electronic and paper formats
- Delivers non-Clearinghouse school enrollment data faster
- Eliminates enrollment record duplicates
- Reduces unnecessary status adjustments to borrower accounts
- Improves the customer service you provide to your borrowers and schools
- Saves your computer processing resources