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.
- 010Transaction Set HeaderMandatory->Max 1
To indicate the start of a transaction set and to assign a control number
- 020Beginning SegmentMandatory->Max 1
To indicate the beginning of a transaction set.
- 030Guarantee Result DetailMandatory->Max 1
To provide information related to the disposition of a student loan
- 040Loan VerificationOptional->Max 25
To identify the specific confirmation and exception codes for loan verification
- 050Disbursement InformationOptional->Max 10
To specify disbursement dates and amounts for a loan
- 060Date or Time or PeriodOptional->Max 10
To specify any or all of a date, a time, or a time period
- 070Indebtedness for Student LoansOptional->Max 1
To provide information about previously guaranteed student loans
- 080Reference NumbersOptional->Max 5
To specify identifying numbers.
- ENT Loop MandatoryRepeat 10
- 090EntityMandatory->Max 1
To designate the entities which are parties to a transaction and specify a reference meaningful to those entitiesUse the ENT loop to identify the borrower, student, school, lender, guarantor, servicer, seller, secondary market, or all of the above.
- 100Individual Name Structure ComponentsOptional->Max 5
To sequence individual name components for maximum specificity
- 110Demographic InformationOptional->Max 1
To supply demographic information
- 120Address InformationOptional->Max 2
To specify the location of the named party
- 130Geographic LocationOptional->Max 1
To specify the geographic place of the named party
- 090EntityMandatory->Max 1
- 140Transaction Set TrailerMandatory->Max 1
To indicate the end of the transaction set and provide the count of the transmitted segments (including the beginning (ST) and ending (SE) segments).