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Unlocking the Potential of Direct Loan Reports

Learn about available Direct Loan reports, how to access them, and their importance in the school processing. Discover various types of reports and their functions to aid in issue identification and loan reconcilation.

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Unlocking the Potential of Direct Loan Reports

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  1. Session DL-05 Unlocking the Potential of Direct Loan Reports Julie Aloisio Barbara Davis David Hebrank U.S. Department of Education

  2. 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

  3. 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

  4. The Lineup Direct Loan Reports – The What, Where, When, Why, and How 4

  5. 1 30 Day Warning • What –unbooked loans/MPNs • When - monthly • Where – SAIG or COD web • Why – identify and resolve unbooked loans on COD

  6. 2 Inactive Loans • What –inactive loans • When - monthly • Where – SAIG or COD Web • Why – identify inactive loans that should be active or vice versa

  7. 3 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

  8. 4 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

  9. 5 School Account Statement • What –cash and loan summary and detail • When – monthly • Where – SAIG only • Why – reconcile with school data

  10. 6 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. 7 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

  12. 8 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

  13. 9 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

  14. 10 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

  15. Direct Loan Rebuild • What –detailed origination and disbursement data on COD • When – as needed • Where – SAIG • Why – rebuild lost DL data

  16. School Monitoring Email Report • What – information on: • Unbooked loans (DL only) • Unsubstantiated funds (DL and grants) • POP (Pell only) • When – weekly, as needed • Where – email from COD customer service • Why – alerts schools to potential processing issues

  17. 11 School Monitoring Email Report

  18. 11 School Monitoring Email Report

  19. 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

  20. 12 Detailed Exit Counseling by Date

  21. 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

  22. Just The Facts Setting DL Report Options and Accessing Reports 22

  23. https://cod.ed.gov Setting Report Options in COD

  24. Setting School Account Statement (SAS) Options

  25. Accessing Direct Loan Reports Online • Accessed through COD Web site • 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

  26. Accessing DL Reports Online

  27. Direct Loan Newsbox

  28. Viewing/Selection Options

  29. Accessing DL Servicing Reports Online • FAA login through the COD Web site • Users can continue working in COD and the Servicing Web sites as needed

  30. Accessing DL Servicing Reports

  31. Accessing DL Servicing Reports

  32. Entrance Counseling New! New!

  33. DL Servicing Report Choices • Choose by main campus or branch • Select date range/or predefined date range

  34. Searching for Clues – On the Case with Direct Loan Reports 34

  35. CASE FILE ? The Case of Mistaken Identity • How can I determine if a student identifier has been changed on COD?

  36. Mistaken Identity • Change sent by my school: • Common Record Acknowledgment • Change sent by my school or another school: • SSN/Name/DOB Change Report

  37. 7 Mistaken Identity

  38. CASE FILE Case Closed Mistaken Identity • How do I use this information? • Monitor identifier changes made by my school • Update my school records to prevent future rejects

  39. CASE FILE ? 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?

  40. Unbooked Loan/MPN Issues • Where should I look? • 30-Day Warning • MPN Reports (Discharge, Expired, Due to Expire)

  41. 1 Unbooked Loan/MPN Issues Pieces Needed by COD to Book a Loan

  42. 1 Unbooked Loan/MPN Issues Unlinked MPNs

  43. 9 Unbooked Loan/MPN Issues: Expired MPN Report Expired MPNs Not Available for Linking

  44. 10 Unbooked Loan/MPN Issues: MPNs Due to Expire Report MPNs Available for Linking

  45. CASE FILE Case Closed 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

  46. CASE FILE ? The Case of the Cash Balance • Why does my school have an Ending Cash Balance (ECB) at the end of each month?

  47. Ending Cash Balance (ECB) • Where should I look? • School Account Statement (SAS) • Pending Disbursement Listing • School Records

  48. 5 Do the totals match school records? Can you explain the ECB? ECB:SAS Cash Summary

  49. 5a Match School Records? Timing Differences? ECB: SAS Cash Detail

  50. 5b ECB: SAS Disb Detail Match School Records? Missing Data? Timing?

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