20 U.S. Code § 1018b - Administrative simplification of student aid delivery
In order to improve the efficiency and effectiveness of the student aid delivery system, the Secretary and the Chief Operating Officer shall encourage and participate in the establishment of voluntary consensus standards and requirements for the electronic transmission of information necessary for the administration of programs under subchapter IV.
Except with respect to the common financial reporting form under section 1090(a) of this title, the Secretary shall consider adopting voluntary consensus standards agreed to by the organization described in subsection (b) for transactions required under subchapter IV, and common data elements for such transactions, to enable information to be exchanged electronically between systems administered by the Department and among participants in the Federal student aid delivery system.
Nothing in this section shall restrict the ability of participating institutions and lenders from using a clearinghouse or servicer to comply with the standards for the exchange of information established under this section.
The term “clearinghouse” means a public or private entity that processes or facilitates the processing of nonstandard data elements into data elements conforming to standards adopted under this section.
Prior sections 1018b to 1018f were omitted in the general amendment of this subchapter by Pub. L. 102–325.
Section 1018c, Pub. L. 89–329, title I, § 144, as added Pub. L. 100–418, title VI, § 6201, Aug. 23, 1988, 102 Stat. 1515; Pub. L. 101–610, title II, § 221(a), (b), Nov. 16, 1990, 104 Stat. 3180, related to applications.
Section 1018e, Pub. L. 89–329, title I, § 146, as added Pub. L. 100–418, title VI, § 6201, Aug. 23, 1988, 102 Stat. 1516; Pub. L. 101–305, § 5, May 30, 1990, 104 Stat. 258; Pub. L. 101–610, title II, § 221(c), Nov. 16, 1990, 104 Stat. 3180, related to authorization of appropriations.
Section 1018f, Pub. L. 89–329, title I, § 147, as added Pub. L. 100–418, title VI, § 6201, Aug. 23, 1988, 102 Stat. 1516, defined “public community agency”, “institution of higher education” and “Secretary”.