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BANNER BREADCRUMB

S

NADINE HAMRICK, ASSOCIATE DIRECTOR

STUDENT FINANCIAL ASSISTANCE

MARSHALL UNIVERSITY

APRIL 1, 2015

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AGENDA

oDirect Loan Redesign

oDecisions to Be Made

oForms

oSet Up

oChange in Processes

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Federal Direct Loan RedesignEnhancementsoPeriod Based Awarding of Direct Loans

oPeriod Year in College

oScheduled Academic Year (SAY) Loans

oBorrower-Based Academic Year (BBAY) Loans

oBorrower-Based Academic Year Packaging

oDirect Loan Origination Update

oDirect Loan MPN Requirements

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Federal Direct Loan Redesign

Decisions - RPRLOPToSingle Loan OriginationoAutomatically Update Award oOrigination Required for MemooValid MPN Required for MemooAuthorize LoanoAccepted Origination Required for Disbursement oLinked MPN Required for Disbursement oReschedule Disbursement Date

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RPRLOPT

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Promissory Note Options

oThis will allow you to know where the Promissory Note is in processingoFrom awarding to origination to COD Match or Manual MatchoCreate Options on ROAUSIO – DL MPN Requirements

oAwarding CodesoAP = Possible Match (A valid MPN exists for this type in MPN Table

which COD may link when the Origination is submittedoAN = NSLDS Active MPN – Valid MPN does not exist but NSLDS

data from current record and aid year indicates an active MPN exists at COD

oAE = Established – Does not exist in MPN table nor does NSLDS

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Promissory Note Options 2

Origination oOP = Possible Match – Valid MPN exists in MPN table which COD may link when Origination is submitted.

oON = NSLDS Active MPN

oOE = Established = A valid MPN does not exist in the MPN table

oOI = Origination Inactive – When an Origination record is changed to an inactive status the MPN requirement will updated

oOM = Matched Manually

oM = Matched by COD

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ROAUSIO Stafford MPN Rules

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RAAREQ DIRECT MPN TAB

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RTVAPRD – RTVSAYR – RORSAYR ROBAPRD – RORTPRD

SET UP RTVAPRD – Define unique aid periods

RTVSAYR – Define normal academic year SAY code and create a different SAY Code for any academic year that does not have the

same beginning and end dates

RORSAYR – Set up beginning and end dates of scheduled academic year and assign periods and disbursement dates

ROBAPRD – Assign Aid Period with SAY Code to ROBAPRD

RORTPRD – Assign Periods (terms) to Aid Period

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RTVSAYR

Define Academic Year SAY Codes MU Examples:

Fall/SpringFall/Spring/SU04

Fall/Spring/SUM

Med 1, Med 2, Med 3, Med 4 (Medical)

PT 1, PT 2, PT 3, PT 4 (Physical Therapy)

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RTVSAYR

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RORSAYR

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ROBAPRD

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RORTPRD

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Borrower Based Loans - BBAY

Physical Therapy Program - Summer, Fall, Spring, Summer

oSummer – 1415

oFall – 1516

oSpring 1516

oSummer – 1516

oSummer & Fall – 1st Academic Year

oSpring & Summer – 2nd Academic Year

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Borrower Based Loans - BBAYoGraduate Program – Annual Maximum Federal Direct Loan - $20,500

oGraduate PLUS Loan will award up to the remaining need across years

oThus these students will receive 2 annual maximums across their borrower based academic year –

oBorrower Based Year/Academic Year 05/12/14 – 12/12/14

oSummer 2014 – $10,250

oFall 2014 - $10,250

oBorrower Based Year/Academic Year 01/12/15 – 08/07/15

oSpring 2015 - $10,250

oSummer 2015 - $10,250

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ROIBBAY

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Borrower Based Loans - BBAYoDL Funds must be set up on RFRMGMT to be used by BBAY Processing

oA BBAY must be assigned to the student on RPABBAY

oPackaging will look cross years beginning with first term in each BBAY assigned to determine eligibility for the current term.

oRLADLOC will originate loans based upon the dates used on RORBBAY for loan period and the academic year.

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RLADLOR ADJUSTMENTS

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LOAN ADJUSTMENTS

RPAAWRD Loan Adjustments Increasing or reducing a loan to a period or to the total will create a discrepancy between RPAAWRD and RLADLOR but if you run origination this will go away immediately or it can occur in your batch run. If your option is set to one origination it will add that amount to the proper period or periods, it will change the loan amount (approved amount) and update year in college if there is a change and create the proper change records for COD.

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LOAN ADJUSTMENTS

RPLADLOR Loan AdjustmentsIf you have the need to increase or decrease a loan you no longer have to insert a record but you will go to the gross amount and simply increase or decrease and based on your options when committed the change will automatically update RPAAWRD or give you a pop up and ask do you want the change to be made on RPAAWRD. Again the process will update all of the appropriate fields for submission to COD. If you opt to not allow the update you will have a record with an loan discrepancy which will be flagged both on RLADLOR and the Direct Loan Interface Tab on RPAAWRD. We will need to “remember” to later change RPAAWRD or create an exception report using the “award discrepancy field”.

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FORM CONVERSIONS

RPALORG

RLADLOR – Direct Loan Origination FormRLADBOR – Direct Loan PLUS Borrower FormREACODS – CODS Student Information FormRLADMPN – Applicant Direct Loan MPN FormRLAPAPP – Direct Loan PLUS Application Form

REASTID

REACODS – COD Student Information FormRLADBOR – Direct Loan PLUS Borrower Form

RFRMGMT & ROAMGMT

RLRDFEE – Direct Loan Origination Fee Rules Form

RPRLPRD

RORBBAY – Borrower Based Academic Year Data FormRORSAYR – Scheduled Academic Year Rules Form

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Continued Conversion Forms

RPADLCR – RLADLOR – Direct Loan Origination Form Corrections

ROAALOG – RLADLOR – Direct Loan Origination Form Logging

RORDATA – RLADLLC – Direct Loan Logging Control Form

RFRPROM – RLADMPN – Applicant Direct Loan MPN Form

RPRLORC – RLPDLOC – Direct Loan Origination Creation Process

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Outcomes of Redesign

1. Creation of RTVSAYR, RTVBBAY and RORRSAY eliminates the need to create loan periods annually. We will only need to change dates for the upcoming year as the SAY and BBAY codes will stay the same.

2. Eliminates the need to create budget types by aid year and having to copy and change to a new aid period. No longer the need to create aid year specific aid periods. Example: MS1-16 now becomes MS1 and once budgets roll we will only need to update the dollar amounts.

3. Synchronizing RPAAWRD and RLADLOR

4. PROM Notes may be loaded to RPRPROM

5. All new tables thus all reports must be rewritten once we determine what we need

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QUESTIONS