session 45 direct loans: how to get started and get going ! gail mclean-campbell lisa dicarlo
TRANSCRIPT
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Session 45
Direct Loans:
How to Get Started and
Get Going !Gail McLean-Campbell
Lisa DiCarlo
![Page 2: Session 45 Direct Loans: How to Get Started and Get Going ! Gail McLean-Campbell Lisa DiCarlo](https://reader035.vdocuments.net/reader035/viewer/2022062423/5697bfa81a28abf838c999bf/html5/thumbnails/2.jpg)
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Objectives
• Get Started:
– Application and Approval
– Setup
• Get Going:
– School Processing Options and Setup
– Operational Decisions
– Tools Available
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Get Started:
• Application and Approval
• Set-up
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Get Started: Application and Approval
• Certified eligible for Direct Loan?
– Eligibility and Certification Approval Report
(ECAR)
– “E-APP for Schools” Web site
www.eligcert.ed.gov
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Get Started: Application and Approval
• E-mail participation request to:
– Include:
•School name, address,
and phone #
•Requestor’s name,
e-mail, and phone #
•Award Year •COD ID (8 digit #)
•DUNS # •OPE ID (8 digit #)
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Get Started: Application and Approval
• List of requested information can be found at:
– http://www.ed.gov/offices/OSFAP/
DirectLoan/index.html
• Professionals
– Becoming a Direct Loan Program Participant
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Get Started: Application and Approval
• Direct Loan Operations Review
– Review school records
– Approve or deny request
– Record results of review in PEPS
– E-mail Approval or Denial letter to the school
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Get Started: Application and Approval
• Approval letter
– Effective date
– Funding method
– Direct Loan Checklist
• Denial letter
– Reason for denial
– Actions required for reconsideration
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Get Started: Setup
• PEPS transmits school information to COD
• Direct Loan Operations assigns “Initial” CFL
• COD transmits school information and CFL to
Grant Administration and Payment System
(GAPS)
• GAPS creates school’s Direct Loan account
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Get Started: Setup
• Grant Administration and Payment System
(GAPS)
– Direct Loan”Banking” information
– GAPS Hotline: 1-888-336-8930
– Web site: www.e-grants.ed.gov
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Get Started: Setup
• Student Aid Internet Gateway (SAIG)
– Complete or revise SAIG Agreement
• SAIG assigns mailbox (TG#s)
– Arrange for testing of transmissions
– SAIG Customer Service: 1-800-330-5947
– Web site: www.fsawebenroll.ed.gov
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Get Started: Setup
• Approved Additional Locations
– May report origination records separately from
main campus
– Must be set up to process
• Send an email request to:
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Get Started: Setup
• Approved Additional Locations
– To process separately
• Must have
– A unique Grantee DUNS
» Dun & Bradstreet – 1-800-333-0505
– A unique Direct Loan code (“E” code)
– Must follow same steps as main campus
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Get Going:
– School Processing Options and Setup
– Operational Decisions
– Tools Available
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Get Going: Processing Options and Setup
• Basic Responsibilities:
– Determine student eligibility for aid
– Report Originations, Disbursements, and
Master Promissory Notes (MPNs)
– Report changes to disbursements
– Reconcile loan and cash records
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ISIR
Get Going: Processing Options and Setup
Funding Data and Payment Requests
Central Processing System (CPS)
FAFSA
SAR
COD
Originations, Disbursements & Paper MPNs
Responses
GAPS NSLDS
DLSS
e-MPN
Funding Request
Money
Loans and Disbursements
Loans and Disbursements
Enrollment Status
Electronic Entrance & Exit
Counseling
Repayment/
Servicing
Student data
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Get Going: Processing Options and Setup
• What funding method?
– School-initiated drawdown = Advanced Funds
– System-initiated drawdown = Pushed Cash
• Receive response when submitting via web?
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Get Going: Processing Options and Setup
• Master Promissory Note:
– Electronic of Paper?
– Who handles MPN process?
– How often signed?
– Accept or reject disbursements without MPN
on file?
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Get Going: Processing Options and Setup
• Master Promissory Note:
– eMPN
• Stafford (Sub/Unsub)
• PLUS
• School options
• Obtaining access
• Web site: www.dlenote.ed.gov
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Get Going: Processing Options and Setup
• Reports
– What format?
– Receive or not?
– Select via COD Web site
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Get Going: Operational Decisions
• To what extent do you plan to participate?
– Completely transition?
– Offer both Direct Loan and FFELP?
– If both, how?
– Students choose?
– Direct Loans for certain students only?
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Get Going: Operational Decisions
• What options will best serve your students?
• What offices will be involved in the process?
– What will their roles be?
– Staffing levels sufficient to support operational
decisions?
• Who will conduct your reconciliation?
• Who will work your rejects/resolve processing issues?
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Get Going: Operational Decisions
• How will you process records?
– Process yourself
• Software?
• Technical support?
• How will you back up your data?
• Production schedule?
– Third Party Servicer
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Get Going: Tools and Resources
• COD Web site: COD.ed.gov
– View records submitted to COD
– Submit new records
– View batches
– Correct rejected records
– Research issues
– Retrieve school reports
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Get Going: Tools and Resources
• COD Web site
– Access DL Servicing Web site
– Computer based training (CBT)
– Access:• Security Administrator
– Request letter to:
» U.S. Department of EducationAttn: COD Web AccessCOD School Relations CenterP.O. Box 9003Niagara Falls, NY 14302
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Get Going: Tools and Resources
• COD School Relations
– Attend session 19:
• A Day in the Life at the COD School Relations
Center
– Phone: 1-800-848-0978
– E-mail: [email protected]
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Get Going: Tools and Resources
• DL Tools
– Cash Management Tools
– Reconciliation
– Rebuild
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Get Going: Tools and Resources
• Direct Loan Servicing
– Session 41 - Late Stage Delinquency Assistance
– Entrance and Exit Counseling
– School Services: 1-888-877-7658
– Borrower Services: 1-800-848-0979
– Web site: www.dl.ed.gov
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Direct Loan Servicing
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Get Going: Tools and Resources
• Direct Loan Consolidation
– School Services page
– Borrower Services page
– Phone: 1-800-557-7392
– Web site: www.loanconsolidation.ed.gov
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Direct Loan Consolidation
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Get Going: Tools and Resources
• School Portal: fsa4schools.ed.gov
– Resources and training
– Publication ordering
– Access to student data
– Participation and Funding
– Much more
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School Portal
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Get Going: Tools and Resources
• Borrower Publications
– Direct Loan Basics
– Entrance and Exit Counseling
– To order visit:
• www.fsapubs.org
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Get Going: Tools and Resources
• School Publications
– COD Technical Reference
• Implementation Guide
– Direct Loan School Guide
– Blue Book
– Financial Aid Handbook
– NSLDS Enrollment Reporting Guide
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Get Going: Tools and Resources
• Visit:
http://www.ed.gov/offices/OSFAP/DirectLoan/index.html
– School
– Borrower
• Sign up for:
– DL listserv
– DL Bulletin e-mail (through COD Customer Service)
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Direct Loan Web site
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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 46 What’s New in Direct Loans: Grad PLUS and
other HERA Related ChangesSession 47 Direct Loan Reconciliation and CloseoutSession 48 Direct Loan Reports & Reference Materials-Tools
of the TradeSession 49 How Direct Loan Servicing is Improving the
Financial Aid Experience for You and Your Students
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Contact Information
We can be reached at:
• Gail McLean-Campbell
– Phone: 202-377-3149
– E-mail: [email protected]
• Lisa DiCarlo
– Phone: 202-377-3129
– E-mail: [email protected]