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Session 39 - 1
Session 39 - 2
Session 39
Direct Loan Origination Update
Session 39 - 3
Current Processing Update Customer Service Enhancements Interest Rebate LO-Online Changes 2001-2002 Batch Changes Reconciliation Update
Session 39 - 4
LO Records Processed
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Session 39 - 5
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P-Notes Processed
Session 39 - 6
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Disbursements Processed
Session 39 - 7
Current Processing Updates
Paper Manifests are returned regular mail Borrowers are receiving an interest rebate
without changes to school systems Visited schools to learn about various
processes 732 report
• Established a schedule• Produced the report for current Program Year
Session 39 - 8
Customer Service Enhancements
Database Check of MPN ID’s Created a CSR Career Path
• Attract longer term people to the job• Allow enhanced salary options
School Visits to the LOC• Schools listen to calls• Review calls and update training material
Session 39 - 9
Customer Service Enhancements
Requesting 3rd Party Vendor software training materials
New CSR Monitoring Software• Records conversations for playback and
review• Used for training enhancements
Session 39 -10
What’s New
Session 39 -11
Interest Rebate
Current year (PY 00-01)• All changes made in Servicing System• LO is notifying borrowers• Updates available in Servicing in November
Session 39 -12
Interest Rebate
Future years• Rebate calculated during origination process• Borrower’s “cash in hand” will increase• New data elements on LO record• Details in the DL Technical Reference• USE THE ROUNDING RULES IN THE TECH
REF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Session 39 -13
Entrance Counseling
On the LO Web site November 2000 Students
• Access site by using their existing PIN or by providing name, SSN, and date of birth
• Enter the school or schools they would like to view the results
• Walk through counseling and take the quiz• Results are stored at the LOC
Session 39 -14
Entrance Counseling
Schools• View results from their students online• Results retrieved by entering SSN or a date
range
Session 39 -15
Data Changes over the Web
Demographic Changes• Implemented in September 2000
Loan Origination/Change Records• February 2001• Change data for all program years• The LOC will not send an acknowledgement
back to schools
Session 39 -16
Data Changes over the Web Disbursement/Adjustment Records
• Restricted access• On-line changes will be included in DLSAS and
732 reports
Session 39 -17
Data Changes over the Web
Why is disbursement change restricted?• The disbursement sequence number would be
automatically generated by the on-line update• If a school generates a disbursement change
through the batch process, a disbursement sequence number would be generated
• This could cause duplicate disbursement sequence numbers and the record would reject
• Working on a process on how to allow any disbursements/changes
Session 39 -18
Data Changes over the Web
Knowing what has been changed• Capability to query for changes and save them
from the web site– SSN– Loans– Date range
• Access to online historical view of data changes
Session 39 -19
Web Enhancements for 2001-2002
Dependency status• On the loan detail page instead of the person
detail page E-mail addresses
• Display e-mail address passed to the LOC 1st Disbursement
• Includes the flag that indicates the first disbursement on the disbursement detail page
Session 39 -20
Web Enhancements for 2001-2002
MPN on file• Displays there is an MPN on file and also
includes the expiration date Reports
• Schools will be able to indicate over the web if they no longer want a specific report
• Can select a format for receipt of report A “Help File” will be available on the web
site for common batch processing errors
Session 39 -21
2001-2002 Batch Changes
Loan Origination Changes• Schools who do not do drawdowns are required
to change anticipated disbursements with LAA changes
• Credit checks for PLUS loans will be acknowledged in a single cycle
• Upfront Interest Rebate• First Name Processing Modified• New Grade Level Value Processing
Session 39 -22
2001-2002 Batch Changes
New fields on LOR• E-mail Address (field #149)• Interest rebate field has been added for each
Anticipated Disbursement
Session 39 -23
2001-2002 Batch Changes
Disclosure Statements• On the loan level:
– Giving gross loan amount, loan fee, interest rebate, and net loan amount
– Net loan amount=gross loan-loan fee+interest rebate
• On disbursement level:– Net disbursement amount– Anticipated disbursement date
Session 39 -24
2001-2002 Batch Changes
Software Testing• Beginning in January• Test with any software vendor or Mainframe
school• Requires a test G-code• Requirements and processes are being
reviewed• Plans are to post successful testers on the LO
Web
Session 39 -25
Reconciliation Update
Program Years 1995/1996 and 1996/1997• Accounted for 99.98% of disbursement
records for the $15.8 billion drawn down by 1269 schools
Session 39 -26
Reconciliation Update
Program Year 1997/1998• Accounted for 99.9% of disbursement records
for the $9.4 billion drawn down by 1211 schools
• Will send bills to schools with an ending cash balance by the end of December
• Will send close-out letters to schools with a zero balance
• Will close schools at the LOC
Session 39 -27
Reconciliation Update
Program Year 1998/1999• Accounted for 99.8% of disbursement records
for the $9.6 billion drawn down by 1199 schools
• The process for sending bills and close-out letters will be the same.
• The final dates will be determined
Session 39 -28
Questions If you have technical questions, please send
them to: [email protected] Use a subject line of “Technical question” Answers will be returned within 3 business
days If an answer cannot be given within 3
business days, you will be notified Please include your name, organization, and
a phone number
Session 39 -29
Loan Origination Contacts E-Mail Address:
[email protected] School Relations at the LOC:
1-800-848-0978 School Relations Fax:
1-800-557-7396 School Relations at the Servicing Center:
1-888-877-7658
