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Session #41
Unlocking the Potential of Direct Loan Reports
Julie AloisioBarbara Davis Allison Richards
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We Will Cover:• The Lineup – Available Direct
Loan Reports• Just the Facts – Setting Report
Options and Accessing Reports• Searching for Clues – On the
Case with Direct Loan Reports• Mystery Solved – Locking Up the
Case
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We Will Learn:• What Direct Loan reports are available• Where to get them• When and how frequently reports are
received• Why this information is useful to
school processing• How the reports can assist in issue
identification and the recon/closeout process
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The Lineup
Direct Loan Reports – The What, Where, When, Why,
and How
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30 Day Warning• What –
Unbooked Loans/MPNs
• When - Monthly
• Where – SAIG or COD Web
• Why – Identify and Resolve Unbooked Loans on COD
1
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Inactive Loans• What –
Inactive Loans• When -
Monthly• Where – SAIG
or COD Web• Why – Identify
Inactive Loans that should be active or vice versa
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Funded Disbursement Listing• What –Funded
disbursements for that day
• When – Daily, as needed
• Where – SAIG or COD Web
• Why – Identify disbursements used in funding calculation
3
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Pending Disbursement Listing• What –Pending
disbursements for that period
• When – Weekly
• Where – SAIG or COD Web
• Why – Identify disbursements to be used in funding calculations
4
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School Account Statement• What –Cash
and Loan Summary and Detail
• When – Monthly
• Where – SAIG only
• Why – Reconcile with school data
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Duplicate Student Borrower• What –List of
students at your school with awards at another school
• When – Monthly
• Where – SAIG and COD web
• Why – Identify potential overawards
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11
SSN/Name/DOB Change• What –List of
individuals at your school with identifier changes
• When – Weekly
• Where – SAIG and COD web
• Why – Monitor changes & prevent rejects
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MPN Discharge Report• What –List of
MPNs inactive due to discharge
• When – Weekly• Where – SAIG
and COD web • Why – Identify
MPNs no longer available for linking
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Expired MPN Report• What –List of
MPNs that have expired
• When – Weekly
• Where – SAIG and COD web
• Why – Identify MPNs no longer available for linking
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MPN Due to Expire Report• What –List of
MPNs about to expire
• When – Monthly
• Where – SAIG and COD web
• Why – Identify MPNs that will be expiring in next 60 days
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Direct Loan Rebuild• What –Detailed
origination and disbursement data on COD
• When – As Needed
• Where – SAIG • Why – Rebuild
lost DL data
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School Monitoring Email Report
• What – Information on:– Unbooked Loans (DL only)– Unsubstantiated Funds (DL and Pell)– POP (Pell only)
• When – Weekly, as needed• Where – Email from COD Customer
Service• Why – Alerts schools to potential
processing issues
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School Monitoring Email Report11
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School Monitoring Email Report11
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Direct Loan Servicing Reports• What – Reports covering:
– Entrance Counseling– Exit Counseling– Delinquency– Portfolio
• When – as needed• Where – DL Servicing Website• Why – To monitor borrower activity
at DL Servicing
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Detailed Exit Counseling by Date12
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The Lineup: More Information• COD Technical Reference
Volume 6 Section 8• COD Customer Service• COD Website• Direct Loan Servicing School
Services• Direct Loan Servicing website
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Just The Facts
Setting DL Report Options and Accessing Reports
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Setting Report Options in COD
https://cod.ed.gov
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Setting School Account Statement (SAS) Options
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Accessing Direct Loan Reports Online
• Accessed through COD Website–Opens in new window–Pop up blockers must be turned off
• Users can continue working in the COD web and in reports–Users must log out of both sites separately
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Accessing DL Reports Online
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Direct Loan Newsbox
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Viewing/Selection Options
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Viewing/Selection Options
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Accessing DL Servicing Reports Online
• FAA login through the COD website
• Users can continue working in COD and the Servicing websites as needed
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Accessing DL Servicing Reports
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Accessing DL Servicing Reports
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DL Servicing Report Choices
•Choose by main campus or branch•Select date range/or predefined date range
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Searching for Clues –
On the Case with Direct Loan Reports
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• How can I determine if a student identifier has been changed on COD?
The Case of Mistaken Identity
CASE
FILE
??
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Mistaken Identity• Change sent by my school:
–Common Record Acknowledgment
• Change sent by my school or another school:–SSN/Name/DOB Change Report
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Mistaken Identity
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Mistaken Identity• How do I use this information?
–Monitor identifier changes made by my school
–Update my school records to prevent future rejects
CASE FILE
Case Closed
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The Case of the Unbooked Loan
• How can I determine what piece is missing to book a loan?
• How can I determine why an MPN is not linked to available loans?
CASE
FILE
??
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Unbooked Loan/MPN Issues• Where should I look?
–30 Day Warning–School Account Statement–MPN Reports (Discharge, Expired, Due to Expire)
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1
Unbooked Loan/MPN IssuesPieces Needed
by COD to Book a Loan
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1
Unbooked Loan/MPN Issues
Unlinked MPNs
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5f
Unbooked Loan/MPN Issues: SAS
Unbooked Amounts
Missing MPNs
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Unbooked Loan/MPN Issues: Expired MPN Report
Expired MPNs Not
Available for Linking
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Unbooked Loan/MPN Issues: MPNs Due to Expire Report
MPNs Available for Linking
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Unbooked Loan/MPN Issues• How do I use this information?
–Look for:•Pieces missing to book the loan•MPNs without origination records•Unbooked Loan Amounts•MPNs still available for linking
–Send in additional data or MPN to book the loan
CASE FILE
Case Closed
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The Case of the Cash Balance
• Why does my school have an Ending Cash Balance (ECB) at the end of each month?
CASE
FILE
??
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Ending Cash Balance (ECB)• Where should I look?
–School Account Statement (SAS)
–Pending Disbursement Listing–School Records
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ECB: SAS Cash Summary
Do the totals match school
records? Can you explain the
ECB?
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5d
ECB: SAS Cash Detail
Match School Records?
Timing Differences?
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5e
ECB: SAS Disb Detail
Match School Records?
Any Unbooked
?
Timing?
Missing Data?
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ECB: SAS (Alternate Formats)5g
Fixed Length Unformatted
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5h
5i
5j
ECB: SAS (Alternate Formats)
Fixed Length Formatted in
Excel
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5k
Booked
Unbooked
ECB: SAS (Alternate Formats)
Fixed Length Formatted in Excel
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ECB: Pending Disb Listing
4 Pending Disbs that Should be Actual?
Disbs that Should be Reduced to Zero?
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ECB: School Records• Compare Business Office to Financial
Aid Office• Look for:
– Disbursements or Adjustments on one system but not the other
– Funds in one year but used for disbursements in another
– Other issues
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ECB• How do I use this information?
–Look for:•Reconciling differences•Outstanding rejects or unbooked •Reasons for Ending Cash Balance
–Resolve all issues prior to the next run of the SAS
CASE FILE
Case Closed
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Mystery Solved -
Locking up the Case
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We covered:• The What, Where,When,Why,
and (most importantly) the How of Direct Loan Reports
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For More Information:• COD Technical Reference
Volume 6 Section 8• COD Website Reports Link
(Services Menu)• Direct Loan Servicing Website
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Other Sessions:• #40 – A Direct Loan Primer• #42 – What’s New in Direct
Loans for 2008-2009• #24 – COD Web Hands On• #4 – Title IV Funding to Schools:
From COD Through GAPS
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Contact Information
We appreciate your feedback and comments. We can be reached at:
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Questions
??
