EDI 144 Student Loan Transfer and Status Verification

Functional Group LT

X12F Finance Subcommittee

This Draft Standard for Trial Use contains the format and establishes the data contents of the Student Loan Transfer and Status Verification Transaction Set (144) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set is used by lending institutions (``lenders''), guarantee agencies (``guarantors''), and secondary markets to send and receive information regarding the transfer of ownership of a student loan. It can also be used to verify the status of a student loan prior to and subsequent to the purchase of the loan. The loan status verification and transfer data includes, but is not limited to, borrower, student, and loan detail information. A potential purchaser of a student loan would use this transaction set to request information, from the guarantor of the loan, regarding loan status. This transaction set would in turn be used by the guarantor to return the verified loan status information to the requester. Subsequent to the purchase of the loan, this transaction set would be used by the purchaser to notify the guarantor of a transfer of ownership.

Heading

1. 010 · ST · Transaction Set Header · Max 1 · Mandatory

   To indicate the start of a transaction set and to assign a control number

2. 020 · BGN · Beginning Segment · Max 1 · Mandatory

   To indicate the beginning of a transaction set.

3. 030 · GR · Guarantee Result Detail · Max 1 · Mandatory

   To provide information related to the disposition of a student loan

4. 040 · LV · Loan Verification · Max 25 · Optional

   To identify the specific confirmation and exception codes for loan verification

5. 050 · DB · Disbursement Information · Max 10 · Optional

   To specify disbursement dates and amounts for a loan

6. 060 · DTP · Date or Time or Period · Max 10 · Optional

   To specify any or all of a date, a time, or a time period

7. 070 · IDB · Indebtedness for Student Loans · Max 1 · Optional

   To provide information about previously guaranteed student loans

8. 080 · REF · Reference Numbers · Max 5 · Optional

   To specify identifying numbers.

9. ENT Loop Mandatory Repeat 10

   1. 090 · ENT · Entity · Max 1 · Mandatory

      To designate the entities which are parties to a transaction and specify a reference meaningful to those entities

      Use the ENT loop to identify the borrower, student, school, lender, guarantor, servicer, seller, secondary market, or all of the above.

   2. 100 · IN2 · Individual Name Structure Components · Max 5 · Optional

      To sequence individual name components for maximum specificity

   3. 110 · DMG · Demographic Information · Max 1 · Optional

      To supply demographic information

   4. 120 · N3 · Address Information · Max 2 · Optional

      To specify the location of the named party

   5. 130 · N4 · Geographic Location · Max 1 · Optional

      To specify the geographic place of the named party

10. 140 · SE · Transaction Set Trailer · Max 1 · Mandatory

    To indicate the end of the transaction set and provide the count of the transmitted segments (including the beginning (ST) and ending (SE) segments).