Summary: Announcement Regarding 1996-97 Processed ISIRs
Author: CPS - Central Processing System (CPS)
On May 29, the CPS began reprocessing 75,000 records a day for five days to
correct loan amounts that were previously reported incorrectly on the NSLDS
Financial Aid History page for certain students. Schools will begin to see ISIRs
resulting from this reprocessing around June 3.
The problem occurred several months ago because of the format used to provide
data to the NSLDS by a loan servicer and the Northwest Education Loan
Association. Loan amounts appeared twice on certain student records and
resulted in a cumulative loan balance that was significantly greater than the
amount the student had actually borrowed.
Since learning about the error, NSLDS has repaired the database, identified all
students affected, and provided the CPS with a list of student records to be
reprocessed. As stated previously, the reprocessing effort involves reprocessing
approximately 75,000 records each day for five days, beginning May 29.
Institutions can identify these records by the code of "Z" that will appear in the
System Generated location in FAA Information and by Comment 172.