Student Aid Modernization

The purpose of the Student Aid Modernization Partnership Forum is to foster the development of a common operating environment to enhance service delivery in critical business processes within the student financial aid industry. This common operating environment will employ or adapt, to the extent possible, existing business practices, payment system rules, open technical standards, and commercially available solutions. Where additional practices, rules, and standards are deemed necessary to achieve interoperability, Partnership Forum members will work together within the Forum's workgroups, or in cooperation with other appropriate industry bodies to identify issues and to develop solutions.

NACHA, the Electronic Payments Association, is facilitating this public/private partnership of financial aid stakeholders including:

  • Colleges, Universities and other Post-Secondary Educational Institutions
  • Students
  • Lenders
  • Guarantors
  • State and Federal Government Agencies
  • Technology and Service Providers
  • Financial Institutions
  • Key Trade Groups

NACHA hosted a kick-off meeting on June 17, 1999 for the Partnership Forum that was attended by 160 people representing over 60 organizations. The responsibility for developing the deliverables integral to the common operating environment now rests with the Partnership Forum's four workgroups:

Electronic ID: supporting the definition and implementation of common authentication requirements for service delivery.

Electronic Invoicing and Payment: focusing on a common operating environment for business-to-business (B-B) transactions, with the first priority being an automated lender invoicing and payment process.

Origination and Disbursement: developing common operating models, rules and data sets for multiple financial aid programs

Student Portal Account:  providing students and schools secure access to complete student loan account data from multiple information sources

There is also a Coordinating Committee that is responsible for providing overall strategic direction and assistance.

Membership in the Partnership Forum, the Coordinating Committee and the workgroups, is open to all stakeholders.

Please review these items for more information:

  • Current Partners - listing of organizations currently participating in the Partnership Forum
  • Glossary - definition of terms, programs and organizations

 

Member Only

Copyright ©2000 by NACHA - The Electronic Payments Association
13665 Dulles Technology Drive, Suite 300 Herndon, VA 20171  (703) 561-1100
Site Designed and Maintained by Guava Interactive, LLC
Questions/Comments about the web site, forum-info@nacha.org