session 48 direct loan reports and reference materials: tools of the trade barbara davis allison...

Session 48

Direct Loan Reports and Reference Materials: Tools of the Trade

Barbara Davis

Allison Richards

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What We Will Cover

Your Toolbox:

• Reference Materials and Resources

• Web sites

• Reports

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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”

Overview

Your Direct Loan Toolbox

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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)

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IFAP – Your Library of References

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Reference Materials and Resources

• Listservs

• COD Customer Service Personnel

– 1-800-848-0978

– CODSupport@acs-inc.com

• Federal Student Aid

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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

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COD Web site

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Direct Loan Web site

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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

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Reports – What is Available From COD

For more information, refer to COD Technical Reference Volume 6, Section 8

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Reports- Accessing from COD

Daily/Weekly/Monthly Processing

Using Your Toolbox

Daily/Weekly/Monthly Processing

Originations

You are eligible to receive:

Award Amount: $2625 Award ID: 123456789S07G91234001

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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)

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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

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Web sitesOriginations

• 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

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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

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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

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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

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COD Web site

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Duplicate Student Borrower Report

Daily/Weekly/Monthly Processing

Promissory Notes

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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)

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Web sites

• 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

Promissory Notes

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ReportsPromissory 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

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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

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ISIR

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eMPN – dlenote.ed.gov

View PDF of Promissory note

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COD MPN Search

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COD MPN Search Results

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MPN Due to Expire Report

Daily/Weekly/Monthly Processing

Disbursements

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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)

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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

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Reports

– 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

Disbursements

• Funded Disbursement Listing Report (Pushed Cash only)

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Reports

– 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

Disbursements

• Pending Disbursement Listing Report

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Reports

– 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

Disbursements

• 30-Day Warning Report

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Reports

– 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

Disbursements

• Inactive Loan Report

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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

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COD Web site – Action Queue

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Action Queue Search Results

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Pending Disbursement Listing Report

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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

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Web – Booking Information

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30-Day Warning Report

Reconciliation and Closeout

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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)

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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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Web sites

• COD

– What it shows:

• Cash activity

– How it can be used:

• To monitor unsubstantiated cash, reconcile and

report within the 30-day reporting requirement

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Reports

• The Department’s official Ending Cash Balance as

calculated for your school

• Summary information on cash and disbursement

activity received from your school

• All cash and disbursement detail for the reported

period based on school options

• School Account Statement (SAS)

–What it shows:

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Reports

• To perform monthly reconciliation of all cash and actual

disbursement information at your school

• To identify any outstanding balances that need to be resolved

• To monitor compliance with the 30-day reporting requirement

• To monitor unbooked loan amounts

• For program year closeout

• SAS

–How it can be used:

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Reports

– Cash Summary

– Disbursement Summary by Loan Type

– Cash Detail

– Loan Detail, Loan level

– Loan Detail, Disbursement Activity Level

• Sections of the School Account Statement (SAS)

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What if I need to…

…compare my school records to COD?

– GAPS (cash activity)

– COD

• Cash Activity

• Batch Search by SSN

– SAS

– DL Tools

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GAPS

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COD

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SAS Report

2006-20072006-2007

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What if I need to…

…find information regarding returning funds?– Direct Loan Bulletin DLB 06-09 (OCT)

• Updated guidance on making refunds of cash

– Blue Book

• Chapter 14-General Rules for Disbursing & Returning FSA Funds

– Direct Loan School Guide

• Chapter 10-Returning Direct Loan Funds

• Monthly reconciliation required

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GAPS- Instructions for returning funds

Special Circumstances – Data Loss

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Reference Materials and Resources

• Direct Loan Bulletin 06-08 (JUL)

• COD Technical Reference

• Contact COD Customer Service for a Direct Loan

Rebuild

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Reports

– What it shows:• All origination and disbursement data accepted on COD from your

school for a specific:

– Award Year

– Borrower/Student

– Award ID

– Date Range

– How it can be used:• To rebuild lost data on your system

• Direct Loan Rebuild

Summary

Your Direct Loan Toolbox

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Other Direct Loan SessionsSession 40 Hands On Tour of DL ToolsSession 41 Best Practices in Using DL LSDASession 42 DL Funding & Cash Management A-ZSession 43 Best Practices for Processing DL at Your SchoolSession 44 Direct Loans A – ZSession 45 Direct Loans – How to Get StartedSession 46 What’s New in Direct Loans: Grad PLUS and

other HERA Related ChangesSession 47 Direct Loan Reconciliation and CloseoutSession 49 How Direct Loan Servicing is Improving the

Financial Aid Experience for You and Your Students

Questions?

Allison.Richards@ed.gov

303.844.3677, x122

Barbara.Davis@ed.gov

202.821.3953