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Direct Loan Reports and Resources Exploring the World of Direct Loan Reports

Direct Loan Reports and Resources Exploring the World of Direct Loan Reports. Julie Aloisio U.S. Department of Education, Federal Student Aid Tracy Lardinois U.S. Department of Education, Federal Student Aid. Field Guide . Setting Report Options Available Direct Loan Reports

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Direct Loan Reports and Resources Exploring the World of Direct Loan Reports

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  1. Direct Loan Reports and ResourcesExploring the World of Direct Loan Reports Julie Aloisio U.S. Department of Education, Federal Student Aid Tracy Lardinois U.S. Department of Education, Federal Student Aid

  2. Field Guide • Setting Report Options • Available Direct Loan Reports • Information contained in reports to assist with processing • How the reports can assist with issue identification and the reconciliation/closeout process

  3. Report Formats and Options

  4. Setting Report Options in COD https://cod.ed.gov ’11-12 • To Access: • Click on School • Choose Report Selection

  5. Setting School Account Statement Options in COD ’11-12

  6. Accessing Direct Loan Reports Online Select Services Tab • To access COD reports: • Select the Services tab • Select the hyperlink Select Hyperlink

  7. COD Direct Loan Newsbox Years

  8. COD Viewing/Selection Options

  9. Origination x • Duplicate Student Borrower Report • Completed PLUS Application Report (Since July 2011) • Entrance Counseling Report (Since March 2011)

  10. 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

  11. Completed PLUS Application Report • Unique PLUS Requests • Application Complete Date • New or Modified • Parent or Grad PLUS • Award Year/Loan Periods • Credit Decision • Credit balance • 6-month deferment

  12. Entrance Counseling Report • What –Shows all entrance counselings completed on StudentLoans.gov • When- Weekly on Sat. (Sat.- Fri.) • Where- Web only, CSV format • Why – Identify students who completed Entrance Counseling (Name, SSN, Completion Date, Time, & Type)

  13. Changes x • SSN Name DOB Change Report • Direct Loan Rebuild

  14. SSN Name Date of Birth Change Report • What –List of individuals at your school with identifier changes • When – Weekly • Where – SAIG and COD Web • Why – Confirm identifier changes, update your records & prevent rejects

  15. Direct Loan Rebuild • What –Electronic file containing origination and disbursement detail from COD. • When – By request via COD website. • Where – SAIG • Why – Used to rebuild lost DL data

  16. x Master Promissory Notes(MPN) • Completed MPN Report (Since July 2011) • MPN Due to Expire Report • Expired MPN Report • MPN Discharge Report

  17. Completed MPN Report • Receipt/Create date determines inclusion • Displays electronic & paper • MPN Status • Linked • To a loan • To an endorser • Single-Year functionality school

  18. MPN Due to Expire MPN 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

  19. Expired MPN Report Pipe Delimited Format DL HEADER 0000MPNINAOP#I8G010072010043023522220100430235222 U.S. DEPARTMENT OF EDUCATION EXPIRED MPN REPORT LAST NAME|FIRST NAME|MIDDLE INITIAL|SSN|DOB|MPN ID|EXPIRATION DATE|MPN STATUS|MPN EXPIRATION STATUS |LA||757777777|19670705|757777777M10G01007001|20100414|E|EXPIRED |LA||767777777|19670705|767777777M11G01007001|20100414|E|EXPIRED |SA||095555555|19400316|758888888N10G01007001|20100401|E|EXPIRED |SA||096666666|19400317|761111111N11G01007001|20100401|E|EXPIRED LUTTS|SANJUANITA||093333333|19400314|75333333N11G01007001|20100414|E|EXPIRED LUTWIN|SANJUANA||092222222|19400313|752222222N11G01007001|20100414|E|EXPIRED MARSHALL|DONNY|D|443333333|19520707|755555555N10G01007001|20100413|E|EXPIRED MARSHALL|DONNY|D|443333333|19520707|755555555N10G01007001|20100413|E|EXPIRED WEINMANN|LAMONT|H|754444444|19670630|75444444M11G01007001|20100414|E|EXPIRED WEINRICH|LAKITA|D|750000000|19670626|75000000M10G01007001|20100428|E|EXPIRED WEINS|LAKISHA|C|749999999|19670625|749999999M11G01007001|20100428|E|EXPIRED DL TRAILER00000000010000000000000000 • What –List of MPNs that have expired • When – Weekly • Where – SAIG and COD Web • Why – Identify MPNs no longer available for linking Pipe Delimited Formatted in Excel

  20. MPN Discharge Report Comma Delimited Format • What –List of MPNs inactive due to discharge • When – Weekly • Where – SAIG and COD web • Why – Identify MPNs no longer available for linking Comma Delimited Formatted in Excel

  21. Disbursements x • Pending Disbursement Listing Report • Action Queue • 30 Day Warning Report • Inactive Loan Report • Actual Disbursement List (Oct. 2011) • School Monitoring Email

  22. Pending Disbursement Listing Report • What –Pending disbursements for that period • When – Weekly • Where – SAIG or COD Web • Why – Determine future funding needs, identify disbursements that should be actuals (DRI=True) or inactivated Aaron K Spells 123456789 S 123456789S11G0100101 1/13/11 2 2750.00 27.00 14.00 2737.00 TOTAL NET AMOUNT: 2737.00 • Disbursement Dates in past should be: • Made Actuals or • Inactivated

  23. COD website – Action Queue • What – Lists Disbursements in “Pending” Status • When – Anytime • Where – COD website • Why – Identify loans that should be disbursed (DRI=True) or reduced to zero

  24. 30 Day Warning Report • What –Unbooked Loans/MPNs • When - Monthly • Where – SAIG or COD Web • Why – Identify and Resolve Unbooked Loans on COD and monitor compliance with 30-day reporting requirement P 733433593P12G0199001 MARK, KELLY D 02/08/2012 N Y P 743433582P12G0199001 MILLBERN, DAN M 02/08/2012 Y N

  25. Inactive Loan Report • What –Inactive Loans • When - Monthly • Where – SAIG or COD Web • Why – Identify Inactive Loans that should be active or vice versa

  26. Actual Disbursement List • What -Displays booked, unbooked and future dated actual disbursements • When-Generated on Saturday; Reporting period is previous Sat. to Fri. • Where -NewsBox in CSV; SAIG in comma delimited • Why – Compare to school’s actual disbursements Explore in October 2011

  27. School Monitoring Email • What –Email sent to notify schools of Unsubstantiated Cash, POP, and 30 Day Reporting • When – Weekly • Where – Email to FAD • Why – Alerts schools of potential processing issues

  28. School Monitoring Email

  29. Reconciliation & Closeout x x • School Account Statement • School Summary Financial Information Page in COD • Cash Activity Page in COD • Closeout Confirmation Page in COD

  30. School Account Statement • What –Main Tool for required monthly reconciliation • When – Monthly • Where – SAIG only • Why – Use cash summary and detail to reconcile with school data Year-To-Date Cash Summary

  31. School Account Statement Cash Detail

  32. School Account Statement Loan and Disbursement Detail

  33. School Summary Financial Information Page in COD • What – Contains same data as the SAS Cash Summary • When – Updated daily • Where – COD Web • Why – Monitor cash balances

  34. Cash Activity Page in COD • What – Lists all cash drawdown's & refunds of cash for one program year/program at a time • When – Updated daily • Where – COD Web • Why – Monitor cash transactions Days Left for On-time Reporting

  35. Closeout Confirmation Screen in COD • What – Submit Closeout Confirmation • When – Before Closeout Deadline • Where – COD Web • Why – Easy way to confirm your closeout balance

  36. Closeout Confirmation Screen in COD

  37. Other Resources • COD Technical Reference, Volume 6, Section 8 (Reports) • Look for updated information on IFAP http://ifap.ed.gov/ifap/

  38. When You Don’t Know Which Way to Go…. • Julie.Aloisio@ed.gov • Tracy.Lardinois@ed.gov

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