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Direct Loan Quality Assurance: Ensuring Student Aid Excellence

Learn about the Direct Loan Quality Assurance program's requirements and how to develop a quality assurance process to maintain program integrity and accurate student records. Discover resources and tools to satisfy this important component.

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Direct Loan Quality Assurance: Ensuring Student Aid Excellence

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  1. Session 6 Assuring Quality:Satisfying the Direct Loan Requirement34 CFR 685.300(b)(9) Holly Langer-Evans | Nov.-Dec. 2017 U.S. Department of Education 2017 FSA Training Conference for Financial Aid Professionals

  2. Agenda

  3. Definition and Background

  4. A Quality Assurance Process

  5. Definition and Background • The Direct Loan QA component is NOT the same as the “Quality Assurance Program.” • The Quality Assurance Program, concluded at the end of the 2016-17 award year on June 30, 2017. The mission of the program was to help schools Attain, Sustain, and Advance exceptional student aid delivery and service excellence. It focused on analyzing verification outcomes.

  6. Definition and Background • Requirement in place to help schools reviewtheir processes and develop a process to promote program integrity and to ensure accurate student award records • There should be evidencethat a quality assurance process is in place at the school . There is NO official form to complete and submit • Regardless of the method or tools a school chooses, it is important for a school to have a clearly documented policy and procedure manualthat outlines the Direct Loan processes

  7. 2013 Electronic Announcement

  8. Definition and Background Reporting Correctly to COD:

  9. Definition and Background

  10. How to Satisfy this Requirement

  11. How to Satisfy this Requirement *Information about the various reports can be found in The COD Technical Reference, Volume VI, Section 8 (COD reports) and Volume IV, Section 4 (DL Tools reports)

  12. How to Satisfy this Requirement

  13. How to Satisfy this Requirement

  14. How to Satisfy this Requirement

  15. How to Satisfy this Requirement

  16. How to Satisfy this Requirement

  17. How to Satisfy this Requirement

  18. How to Satisfy this Requirement

  19. Documentation

  20. Resources: FSA Assessments

  21. FSA Assessments

  22. FSA Assessments

  23. Direct Loan Quality Assurance • Having a Policy and Procedure’s Manual that outlines: • Direct Loan Process, specifically: • Origination and Disbursement • Reporting • Reconciling missing documents • Reconciling Disbursement and Cash drawdowns

  24. FSA Assessments

  25. FSA Assessments Action Plan

  26. Compliance

  27. Compliance

  28. Compliance

  29. Resources • Electronic Announcement, November 2013http://www.ifap.ed.gov/eannouncements/111313DirectLoanQualityAssuranceRequirementReminder.html • EDExpress, DL Tools, and COD Technical Reference https://www.fsadownload.ed.gov/docsStudentAidGateway.htm • DLB-02-14, May 2002 [http://ifap.ed.gov/dlbulletins/DLB0214.html] • 1999-00 DL School Guide, Appendix D [https://ifap.ed.gov/dlsguides/attachments/0999AppendixD.pdf] • DLB-97-13, April 1997 [http://ifap.ed.gov/dlbulletins/doc0017_bodyoftext.htm] • FSA Assessments: https://ifap.ed.gov/qahome/qaassessments/directloans.html

  30. QUESTIONS? Federal Loan School Support Team:DLOPS@ed.gov Holly.Langer-Evans@ed.gov 617-289-0136

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