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Direct Loan Transition Update OASFAA May 14, 2010

Direct Loan Transition Update OASFAA May 14, 2010. Agenda. Update on FSA’s Work Resources Available for DL Schools Common Issues Processing Update. Update on FSA’s Work. Continually working to improve the Department’s operating systems a. Studentloans.gov b. COD, Servicing

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Direct Loan Transition Update OASFAA May 14, 2010

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  1. Direct Loan Transition UpdateOASFAA May 14, 2010

  2. Agenda • Update on FSA’s Work • Resources Available for DL Schools • Common Issues • Processing Update

  3. Update on FSA’s Work • Continually working to improve the Department’s operating systems a. Studentloans.gov b. COD, Servicing c. EDExpress

  4. Update on FSA’s Work • Ensure that schools can transition successfully • Setting defaults for electronic MPN’s • Establishing TG mailboxes, where applicable • Working with Vendors and Contractors to ensure that school system’s are operational • Webinar Series

  5. Update on FSA’s Work • Working to get Foreign Schools transitioned to Direct Loans • Created a FS website • Producing a web based tool in COD to assist in processing • Establishing a FS DL guide –

  6. Update on FSA’s Work • Ensuring DL website has all the resources a school, parent, and student will need to transition • Communication examples schools can send to students: http://www.direct.ed.gov/communicating.html

  7. Update on FSA’s Work b. Images of documents the Department sends to students and parents: http://www.direct.ed.gov/mpn.html (scroll to the bottom of the page) c. Quick Contact Guide http://www.direct.ed.gov/pubs/reference.pdf

  8. Resources Available Direct Loan On Boarding Team, Point of Contact Dlenrollment_fsa@ed.gov Team member is assigned to institution to help guide through transition. Once transition is complete, school is assigned a contact at COD (if the school participates in Pell, it will be the same contact) who will be there to help with questions.

  9. Resources Available COD Customer Service Representative (CSR) CSR’s are available Monday through Friday 8 -6 p.m. at (800) 848-0978 to help with any questions related to the COD system. They are very knowledgeable with most campus systems and can help walk you through any processing glitches you may encounter. If they can not, they will find someone who can.

  10. Resources Available On Site Visits On site visits may be available for schools having significant difficulty in completing the DL Transition. a. Dear Colleague Letter GEN 10-06 (April 20, 2010) b. No direct grants to schools

  11. Resources Available Direct Loan Coalition Mentor Program The National Direct Student Loan Coalition (http://www.directstudentloancoalition.org/) has a list of institutions that have volunteered to assist other institutions with the transition to DL.

  12. Resources Available Direct Loan Website http://www.direct.ed.gov/index.html This website provides resources for students, parents and school administrators on the Direct Loan program. Resources include, but are not limited to, communication samples, flowcharts, newsletters, publications, training, and description of loans. Links are also available on this page to other DL website, including Servicing and Consolidation.

  13. Resources Available Webinar Series • DL Programmatic Primer • DL Systematic Primer • DL Processing in COD for New Participants • DL Reconciliation • Direct Loan Reports • Direct Loan Tools • Business Office

  14. Resources Available References and Guides https://www.fsadownload.ed.gov/ EDExpress Technical Reference and Desk Guide https://www.fsadownload.ed.gov/softexpress1011.htm COD Technical Reference https://www.fsadownload.ed.gov/docsStudentAidGateway.htm

  15. Resources Available U.S. Department of Education Software Downloads https://www.fsadownload.ed.gov/software.htm Webinars and Training Suites http://www2.ed.gov/offices/OSFAP/training/distanceed/downloads.html

  16. Common Issues • Students not completing their MPN’s – they don’t read and believe that it does not pertain to them • Vendor support 3. Setting up the internal administrative process a. Identifying who is going to do what process b. Process flow c. System set up d. Communication flow to students/parents and administration

  17. Processing Update Federal Student Aid processed more than 812,000 Master Promissory Notes in April 2010, a 523% increase over the same time period last year. Of those, approximately 790,000 MPNs were filed electronically via the StudentLoans.gov Web site.

  18. Processing Update Federal Student Aid originated approximately 784,000 Direct Loans in April 2010, a 158% increase over the number of Direct Loan originations in April 2009.

  19. Questions? DLenrollment_fsa@ed.gov Michelle Saigh U.S. Department of Education Program Management Services Direct Loan Senior Advisor (202) 377-4631 Michelle.saigh@ed.gov

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