Session 48 Direct Loan Reports and Reference Materials: Tools of the Trade Barbara Davis Allison Richards

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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• Listservs

• COD Customer Service Personnel

– 1-800-848-0978

– [email protected]

• 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


Originations

You are eligible to receive:

Award Amount: $2625 Award ID: 123456789S07G91234001

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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


• 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


• 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


• 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


Promissory Notes

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Promissory Notes

• Direct Loan Bulletin 06-06 (JUL)


• 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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…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


Disbursements

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Disbursements



• 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


• 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


• 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


• 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


• 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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…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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…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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• Direct Loan Bulletin 06-04 (JUN)




• Direct Loan School Guide (Ch. 9)

• Blue Book (Ch. 12)

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Web sites

• GAPS

– What it shows:

• Cash activity balance


• To reconcile cash with school accounts and COD

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Web sites

• COD

– What it shows:

• Cash activity


• 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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…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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…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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• 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?

[email protected]

303.844.3677, x122

[email protected]

202.821.3953

Documents

Session 48 Direct Loan Reports and Reference Materials: Tools of the Trade Barbara Davis Allison Richards