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Session 48

Session 48. Direct Loan Reports and Reference Materials: Tools of the Trade Barbara Davis Allison Richards. What We Will Cover. Your Toolbox: Reference Materials and Resources Web sites Reports. How We Will Cover It. Discuss various comprehensive resources available to schools

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Session 48

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  1. Session 48 Direct Loan Reports and Reference Materials: Tools of the Trade Barbara Davis Allison Richards

  2. What We Will Cover Your Toolbox: • Reference Materials and Resources • Web sites • Reports

  3. How We Will Cover It • Discuss various comprehensive resources available to schools • Focus on how to use your toolbox in the framework of regular processing • Daily/Weekly/Monthly Processing • Reconciliation and Closeout • Special Circumstances • Provide ideas on the “How” as well as the “What”

  4. Overview Your Direct Loan Toolbox

  5. Reference Materials and Resources • IFAP - Your Library of References and Resources • Code of Federal Regulation (34 CFR 685) • Federal Student Aid Handbook (Publications) • COD Technical Reference (Publications) • Direct Loan School Guide (DL Systems and Operations) • Direct Loan Bulletins (Letters & Bulletins) • The Blue Book (Publications)

  6. IFAP – Your Library of References

  7. Reference Materials and Resources • Listservs • COD Customer Service Personnel • 1-800-848-0978 • CODSupport@acs-inc.com • Federal Student Aid

  8. Web sites • IFAP - http://www.ifap.ed.gov • COD - http://www.cod.ed.gov • DL Servicing - https://schools.dlssonline.com • Direct Loan – http://www.ed.gov/offices/OSFAP/Directloan/index.html • eMPN - http://www.dlenote.ed.gov • NSLDS - http://www.nslds.ed.gov/nslds_FAP/secure/logon.jsp • GAPS - http://e-grants.ed.gov/egWelcome.asp

  9. COD Web site

  10. Direct Loan Web site

  11. Reports – General Information • What is shown: • Data relevant to your school’s processing • How it can be used: • Monitor performance • Monitor compliance with Direct Loan regulations and policy • Issue detection and problem-solving • Comparing to school data • Reconciliation and closeout

  12. Reports – What is Available From COD For more information, refer to COD Technical Reference Volume 6, Section 8

  13. Reports- Accessing from COD

  14. Daily/Weekly/Monthly Processing Using Your Toolbox

  15. You are eligible to receive: Award Amount: $2625 Award ID: 123456789S07G91234001 Daily/Weekly/Monthly Processing Originations

  16. Reference Materials and Resources Originations • Direct Loan Bulletin 06-05(JUN) • Federal Student Aid Handbook (Vol. 4, Ch. 1) • COD Technical Reference (Vol. 2, Sec. 1,4) • Direct Loan School Guide (Ch. 2, 3, and 6)

  17. Web sites Originations • NSLDS • What it shows: • All loan data (both FFEL and DL) by award year with actual disbursements • How it can be used: • Transfer monitoring • Check on loan limits

  18. Web sites Originations • COD • What it shows: • Direct Loan data (student tab) • Abbreviated Applicant File (student tab/applicant search) • Rejects by batch • How it can be used: • View Direct Loan data for a particular student • View identifier information from the ISIR • Research rejected student awards

  19. Reports Originations • SSN/Name/Date of Birth Change Report • What it shows: • Borrowers that attended your school who have had identifier changes • How it can be used: • Confirm identifier changes at your school • Update your records to prevent future rejects based on old identifier information

  20. Reports Originations • Duplicate Student Borrower Report • What it shows: • Borrowers with overlapping Direct Loan academic years • How it can be used: • Identify possible overaward situations

  21. What if I need to… …determine potential overaward situations? • FSA Handbook • Volume 5, Chapter 1: Overpayments and Overawards • COD Web site-Person Direct Loan Information, Person and Award Detail Screens • NSLDS (transfer monitoring) • Duplicate Student Borrower Report

  22. COD Web site

  23. Duplicate Student Borrower Report

  24. Daily/Weekly/Monthly Processing Promissory Notes

  25. Reference Materials and Resources Promissory Notes • Direct Loan Bulletin 06-06 (JUL) • Federal Student Aid Handbook (Vol. 4, Ch. 1) • COD Technical Reference (Vol. 2, Sec. 1) • Direct Loan School Guide (Chapter 6)

  26. Web sites Promissory Notes • eMPN • What it shows: • PDF image of electronic promissory notes • How it can be used: • search for electronic promissory notes • COD • What it shows: • Both electronic and paper, linked and unlinked • How it can be used: • Verify existence, expiration date and awards linked

  27. Reports Promissory Notes MPN reports (Due to Expire, Expired, and Discharge Report) • What these reports show: • MPNs that are due to expire, have expired, or are associated with awards that have been discharged • How they can be used: • To identify when a new MPN may be needed for an award originated at your school

  28. What if I need to… …determine if an MPN exists that can be linked to an award at my school? • ISIR, school records • Award and MPN responses • COD and eMPN web sites - MPN Search • MPN reports

  29. ISIR

  30. eMPN – dlenote.ed.gov View PDF of Promissory note

  31. COD MPN Search

  32. COD MPN Search Results

  33. MPN Due to Expire Report

  34. Daily/Weekly/Monthly Processing Disbursements

  35. Reference Materials and Resources Disbursements • Federal Student Aid Handbook (Vol. 4, Ch. 2) • COD Technical Reference (Vol. 2, Sec. 1) • Direct Loan School Guide (Ch. 7)

  36. Web sites Disbursements • COD • What it shows: • Action Queue (all pending disbursements by date range) • Batch: Search by Person and award year • What it can do: • Help you locate and reconcile all outstanding disbursements • Trace the specific history and reject reasons for a student’s disbursements

  37. Reports • Disbursements • Funded Disbursement Listing Report (Pushed Cash only) • What it shows: • Actual disbursements accepted from your school for the reported day and the funds you should receive • How it can be used: • To verify disbursements made and funds received • To reconcile school disbursement records to COD

  38. Reports • Disbursements • Pending Disbursement Listing Report • What it shows: • All anticipated disbursements from your school for the reported period • How it can be used: • To identify future funding needs • To identify anticipated disbursements that should be actuals • To identify awards that need to be inactivated

  39. Reports • Disbursements • 30-Day Warning Report • What it shows: • Unbooked awards missing one of 3 pieces necessary to book the loan • Unlinked promissory notes • How it can be used: • To identify the missing piece(s) necessary for booking • To identify MPNs awaiting awards • To reconcile to internal records of unbooked awards • To monitor compliance with the 30-day reporting requirement

  40. Reports • Disbursements • Inactive Loan Report • What it shows: • Any awards that have been made inactive within the reported period • How it can be used: • To identify awards that may have dropped off the 30-Day Warning Report • To confirm that only the correct loans have been made inactive

  41. What if I need to… …check what disbursements are still at a pending status after the anticipated disbursement date? • School Records • COD Web site - Action Queue • Pending Disbursement Listing Report

  42. COD Web site – Action Queue

  43. Action Queue Search Results

  44. Pending Disbursement Listing Report

  45. What if I need to… …determine if I have unbooked loans? • School records • COD Web site – batch search for booking notifications • COD Web site – Award Detail • 30-Day Warning Report

  46. Web – Booking Information

  47. 30-Day Warning Report

  48. Reconciliation and Closeout

  49. Reference Materials and Resources • Direct Loan Bulletin 06-04 (JUN) • Direct Loan Bulletin 06-07 (JUL) • Federal Student Aid Handbook (Vol. 4, Ch. 3) • COD Technical Reference (Vol. 6, Sec. 8) • Direct Loan School Guide (Ch. 9) • Blue Book (Ch. 12)

  50. Web sites • GAPS • What it shows: • Cash activity balance • How it can be used: • To reconcile cash with school accounts and COD

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