1 / 39

Session 45

Session 45. Direct Loans: How to Get Started and Get Going ! Gail McLean-Campbell Lisa DiCarlo. Objectives. Get Started: Application and Approval Setup Get Going: School Processing Options and Setup Operational Decisions Tools Available. Get Started:. Application and Approval

myra-greer
Télécharger la présentation

Session 45

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Session 45 Direct Loans: How to Get Started and Get Going ! Gail McLean-Campbell Lisa DiCarlo

  2. Objectives • Get Started: • Application and Approval • Setup • Get Going: • School Processing Options and Setup • Operational Decisions • Tools Available

  3. Get Started: • Application and Approval • Set-up

  4. Get Started: Application and Approval • Certified eligible for Direct Loan? • Eligibility and Certification Approval Report (ECAR) • “E-APP for Schools” Web site www.eligcert.ed.gov

  5. Get Started: Application and Approval • E-mail participation request to: • CODSupport@acs-inc.com • Include:

  6. Get Started: Application and Approval • List of requested information can be found at: • http://www.ed.gov/offices/OSFAP/DirectLoan/index.html • Professionals • Becoming a Direct Loan Program Participant

  7. Get Started: Application and Approval • Direct Loan Operations Review • Review school records • Approve or deny request • Record results of review in PEPS • E-mail Approval or Denial letter to the school

  8. Get Started: Application and Approval • Approval letter • Effective date • Funding method • Direct Loan Checklist • Denial letter • Reason for denial • Actions required for reconsideration

  9. Get Started: Setup • PEPS transmits school information to COD • Direct Loan Operations assigns “Initial” CFL • COD transmits school information and CFL to Grant Administration and Payment System (GAPS) • GAPS creates school’s Direct Loan account

  10. Get Started: Setup • Grant Administration and Payment System (GAPS) • Direct Loan”Banking” information • GAPS Hotline: 1-888-336-8930 • Web site: www.e-grants.ed.gov

  11. Get Started: Setup • Student Aid Internet Gateway (SAIG) • Complete or revise SAIG Agreement • SAIG assigns mailbox (TG#s) • Arrange for testing of transmissions • SAIG Customer Service: 1-800-330-5947 • Web site: www.fsawebenroll.ed.gov

  12. Get Started: Setup • Approved Additional Locations • May report origination records separately from main campus • Must be set up to process • Send an email request to: • CODSupport@acs-inc.com

  13. Get Started: Setup • Approved Additional Locations • To process separately • Must have • A unique Grantee DUNS • Dun & Bradstreet – 1-800-333-0505 • A unique Direct Loan code (“E” code) • Must follow same steps as main campus

  14. Get Going: • School Processing Options and Setup • Operational Decisions • Tools Available

  15. Get Going: Processing Options and Setup • Basic Responsibilities: • Determine student eligibility for aid • Report Originations, Disbursements, and Master Promissory Notes (MPNs) • Report changes to disbursements • Reconcile loan and cash records

  16. Central Processing System (CPS) COD Loans and Disbursements GAPS DLSS NSLDS Get Going: Processing Options and Setup ISIR FAFSA SAR e-MPN Electronic Entrance & Exit Counseling Repayment/ Servicing Originations, Disbursements & Paper MPNs Responses Loans and Disbursements Enrollment Status Funding Data and Payment Requests Funding Request Student data Money

  17. Get Going: Processing Options and Setup • What funding method? • School-initiated drawdown = Advanced Funds • System-initiated drawdown = Pushed Cash • Receive response when submitting via web?

  18. Get Going: Processing Options and Setup • Master Promissory Note: • Electronic of Paper? • Who handles MPN process? • How often signed? • Accept or reject disbursements without MPN on file?

  19. Get Going: Processing Options and Setup • Master Promissory Note: • eMPN • Stafford (Sub/Unsub) • PLUS • School options • Obtaining access • Web site: www.dlenote.ed.gov

  20. Get Going: Processing Options and Setup • Reports • What format? • Receive or not? • Select via COD Web site

  21. Get Going: Operational Decisions • To what extent do you plan to participate? • Completely transition? • Offer both Direct Loan and FFELP? • If both, how? • Students choose? • Direct Loans for certain students only?

  22. Get Going: Operational Decisions • What options will best serve your students? • What offices will be involved in the process? • What will their roles be? • Staffing levels sufficient to support operational decisions? • Who will conduct your reconciliation? • Who will work your rejects/resolve processing issues?

  23. Get Going: Operational Decisions • How will you process records? • Process yourself • Software? • Technical support? • How will you back up your data? • Production schedule? • Third Party Servicer

  24. Get Going: Tools and Resources • COD Web site: COD.ed.gov • View records submitted to COD • Submit new records • View batches • Correct rejected records • Research issues • Retrieve school reports

  25. Get Going: Tools and Resources • COD Web site • Access DL Servicing Web site • Computer based training (CBT) • Access: • Security Administrator • Request letter to: • U.S. Department of EducationAttn: COD Web AccessCOD School Relations CenterP.O. Box 9003Niagara Falls, NY 14302

  26. Get Going: Tools and Resources • COD School Relations • Attend session 19: • A Day in the Life at the COD School Relations Center • Phone: 1-800-848-0978 • E-mail: CODSupport@acs-inc.com

  27. Get Going: Tools and Resources • DL Tools • Cash Management Tools • Reconciliation • Rebuild

  28. Get Going: Tools and Resources • Direct Loan Servicing • Session 41 - Late Stage Delinquency Assistance • Entrance and Exit Counseling • School Services: 1-888-877-7658 • Borrower Services: 1-800-848-0979 • Web site: www.dl.ed.gov

  29. Direct Loan Servicing

  30. Get Going: Tools and Resources • Direct Loan Consolidation • School Services page • Borrower Services page • Phone: 1-800-557-7392 • Web site: www.loanconsolidation.ed.gov

  31. Direct Loan Consolidation

  32. Get Going: Tools and Resources • School Portal: fsa4schools.ed.gov • Resources and training • Publication ordering • Access to student data • Participation and Funding • Much more

  33. School Portal

  34. Get Going: Tools and Resources • Borrower Publications • Direct Loan Basics • Entrance and Exit Counseling • To order visit: • www.fsapubs.org

  35. Get Going: Tools and Resources • School Publications • COD Technical Reference • Implementation Guide • Direct Loan School Guide • Blue Book • Financial Aid Handbook • NSLDS Enrollment Reporting Guide

  36. Get Going: Tools and Resources • Visit: http://www.ed.gov/offices/OSFAP/DirectLoan/index.html • School • Borrower • Sign up for: • DL listserv • DL Bulletin e-mail (through COD Customer Service)

  37. Direct Loan Web site

  38. Other Direct Loan Sessions Session 40 Hands On Tour of DL Tools Session 41 Best Practices in Using DL LSDA Session 42 DL Funding & Cash Management A-Z Session 43 Best Practices for Processing DL at Your School Session 44 Direct Loans A – Z Session 46 What’s New in Direct Loans: Grad PLUS and other HERA Related Changes Session 47 Direct Loan Reconciliation and Closeout Session 48 Direct Loan Reports & Reference Materials-Tools of the Trade Session 49 How Direct Loan Servicing is Improving the Financial Aid Experience for You and Your Students

  39. Contact Information We can be reached at: • Gail McLean-Campbell • Phone: 202-377-3149 • E-mail: Gail.McLean-Campbell@ed.gov • Lisa DiCarlo • Phone: 202-377-3129 • E-mail: Lisa.DiCarlo@ed.gov

More Related