# Presentation: 310969

## Direct Loan Processing and Reports

- Devin Croft and Julie Aloisio
- US Department of Education

## What’s New for 2008-2009
Direct Loan Processing and Reports
MPN
Origination
Disbursement
Reconciliation/Closeout

- Direct Loan Processing and Reports
- MPN
- Origination
- Disbursement
- Reconciliation/Closeout

- Agenda

## Loan Limit Changes

- Effective for Loans first disbursed on or after July 1, 2008
- Total Subsidized/Unsubsidized Annual Limit applies to Dependent Students
- Excluding students whose parents cannot borrow PLUS
- Additional Unsubsidized Annual Limit applies to Independent Students and dependent students whose parents cannot borrow PLUS

| Grade Level | Subsidized Annual Limit | Total Subsidized/ Unsubsidized Annual Limit | Additional Unsubsidized Annual Limit |
| --- | --- | --- | --- |
| 0, 1 | 3,500 | 5,500 | 9,500 |
| 2 | 4,500 | 6,500 | 10,500 |
| 3 | 5,500 | 7,500 | 12,500 |

**Notes:**
Subsidized Loan may not exceed the Subsidized Loan Annual Limit

## New for 08/09

- Maximum Loan Period
- 12 month restriction eliminated
- Allows for loan certification period to reflect full AY if greater than 12 months
- Effective October 1, 2007

**Notes:**
The 12 month maximum loan period restriction has been eliminated. This provision was included in the CCRAA and was effective October 1, 2007 	

The general rule is that the maximum period for certifying the loan is the lesser of the length of the program or the academic year. 
It is not uncommon for the academic year in a non-term or non-standard term program to extend beyond a 12-month period. 
Previously, there was no way for a school to certify for a full academic year if it was longer than 12 months. This restriction has been eliminated so that the actual loan period may now meet the period that corresponds to an academic year.

Example:
School offers a degree completion program that defines the academic year for that program as 36 quarter credits over 60 weeks. 
Old Rule 
• Loan period and COA was limited to 12 months (52 weeks) 
• Although the 2nd loan period may begin at the end of the prior 52 week loan period, disbursements on that 2nd loan may not be delivered until the end of the 60 week AY 
New Rule 
• Loan period may now cover the full 60 week AY with costs associated with that time frame 
• Disbursements will correspond to the actual loan period 

## New for 08/09

- Late Disbursement Time frame
- Extended to 180 days after determination that student is ineligible
- No more late, late disbursements – cannot request additional time after 180 days

**Notes:**
The new regulations allow late disbursement of Title IV up to 180 calendar days that a student became ineligible. Ineligible for FFEL/DL means less than half-time, for grants/Perkins programs ineligible means no longer enrolled. 
The old regulation allowed 120 days and a special process for late, late disbursements. 
Late. late disbursement process through COD will not be available as of June 30, 2008. 

The November 1, 2007, General Provisions final regulations are effective July 1, 2008. However a school may choose to implement any or all provisions of these regulations prior to the effective date, though no earlier than the publication date. It is expected that if a school chooses an early implementation of only certain provisions, it will implement sections in their entirety. 

## New for 08/09

- DLB 07-20: New PLUS MPN (and 08-14)
- DLB 08-03: _Accepted_ MPN before disbursement
- DLB 08-05: 2.0% Origination Fee
- DLB 08-07: Revised PLD for PLUS
- DLB 08-09: New materials and resources

## New for 08/09 

- DLB 08-13: Entrance Counseling Grad PLUS
- DLB 08-15: Revised Sub/Unsub MPN
- DLB 08-16: Loan Limit Increase
- DLB 08-17: Recap of Operational Guidance
- DLB 08-20: Counseling Type Indicator

## What’s New for 2008-2009
Direct Loan Processing and Reports
MPN
Origination
Disbursement
Reconciliation/Closeout

- Direct Loan Processing and Reports
- MPN
- Origination
- Disbursement
- Reconciliation/Closeout

- Agenda

**Notes:**
Now we’ll cover the tools and reports that assist in each step of the DL processing cycle.

## Direct  Loan Processing Cycle

- Promissory Note

- Disburse

- Reconcile

- Originate

**Notes:**
Four steps, prom note (either get a new one or make sure one is open to link award to), origination, disbursement and reconciliation, first two steps are interchangeable and school choice, But all 4 steps must be performed each award year for each borrower for each loan.
Assuming that you are all intermediate users and that you are originating and disbursing using your software. We will not discuss creating new awards online since many school’s software cannot import web response for newly created web records. You should check with your software to see if you can import web responses for adjustments to existing records made online.

We’ll start with the prom note process.

## www.dlenote.ed.gov

- https://dlenote.ed.gov

**Notes:**
We’ll look first at the eMPN site and process, keeping in mind that even if your school normally uses the eMPN, it must honor the request of any student wishing to use the paper MPN. 

You can remind people of the advantages of using the eMPN:
24/7 availability
Won’t get lost 
Less paper and saves postage
Less prone to error (edits built in)
Faster linking with award information 
Promissory note completion is convenient and confidential
Easily retrieved for viewing or printing by both the school and borrower
Reminder-  paper must be made available to those who request it

To get MPN website access for staff members, go to COD online and click on the link “If you are looking for more information...”., then choose the link for 

This is the eMPN website. Click on the link at lower left, the FAA log in.  Use this to set up access to the site for your school as well as how to view already completed eMPN’s

## eMPN Web Site Options

- Set up your school options
- Search for electronic promissory notes
- Change your password

**Notes:**
After logging in you are taken to a screen that provides these three choices
First we’ll look at the set up options.

## School options -eMPN

**Notes:**
Setting up your school options on the eMPN web site is really EASY!
You select Y for yes  my school would like to participate
Choose Y or N for LOR required. LOR stands for Loan origination record. If you would like your borrower’s to wait to complete a Master promissory note until after you have sent a loan origination record to COD then select Y. 
Advantage to this is when the borrower completes the eMPN then the acknowledgement will be sent to your school and the acceptance can link to your origination record. If the MPN is completed with out the origination record already on your school’s database, then you will have a partial MPN record acceptance on your system not connected to an origination record. Also for parent borrower’s if you complete the origination record first then a credit check will be performed and only borrowers with accepted credit will be completing eMPNs.
Disadvantage to LOR required. The borrower must wait to complete the eMPN until after your school is ready to send origination records to COD. Depending on timing this may not be as convenient for your borrowers.

The other option that can be completed on this is a message unique to your school. You type in what you want to appear and it will appear on the screen when the borrower enters your school code/received two separate answers from Customer service on this another answer was this message will appear on the email the borrower receives when completing the eMPN process Still need to confirm which is right

## eMPN search

**Notes:**
Your school can search for already completed promissory notes either by SSN and DOB if you are looking for a specific borrower, or by date range if you would like to see all borrowers associated with your school that have completed MPNs. 
 Perhaps you are having trouble getting a promissory note to link with the origination record sent in by your school. You would do a SSN and DOB search and then choose view to see if the borrower used a different name, DOB or SSN then is on the origination record submitted by your institution.

## eMPN date range search results

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**Notes:**
Here are the results of a date range search. If you would like to view a pdf version of the eMPN then select the view button under the View PNOTE column

## COD – Person menu

- Person
- Promissory note searches
- Perform credit checks and do credit check searches
- View and update direct loan origination and disbursement data

**Notes:**
The dlenote website is not the only website that can assist you with the promissory note processing Step. 

COD can help you identify if a promissory note either paper or electronic has been completed and whether that promissory note is linked or unlinked with loan origination records. You can perform on line ‘instant’ credit checks (with the borrower’s written consent) or you can search to see the results of credit checks.
And last but not least you can view origination and disbursement data specifics.
First we’ll look at MPN search results

## Person: Promissory note search

**Notes:**
This is a two click screen!!!!
On the first part, discuss that there are three types of searches that you can do. By entering either the SSN or MPN ID you will be able to search for Pnotes whether they are linked or unlinked. Searching by last and first name will return search results only for linked notes and entering DOB and first two letters of first name will display only unlinked notes. HINT enter the SSN for best results

Second mouse click will bring up next screen shot which shows results of a SSN pnote search. By the way, you may notice large areas of white space we have covered privacy data for protection . We use these screens so we can show you real life situations that occur in COD
You can see for Sarah that she has 3 MPNs all with awards linked to them. The M in the middle of the MPN id indicates that it is a Sub/Unsub note which means that only sub and unsub loans will link to that pnote. The N indicates that it is a PLUS note. Remember it can be either a parent plus loan or a graduate student PLUS

## 22

- 16

**Notes:**
By clicking on the first MPN id we will see all of the loans that are linked to this particular note. She has 6 linked awards, the MPN was completed electronically and will expire on 08/14/2016. The MPN expiration date will be 10 years out if there are actual disbursements associated with any of the awards. 

(for presenters only – actually for the programmers that may ask – it is really 365 days not one year and 3650 days not 10 years – but for our presentation we will be saying 1 year and 10 years)

## 17

**Notes:**
This is a two click screen
Let’s look at a promissory note that has no awards linked to it. You can see that it is still in a pending status and will be until a loan origination record is associated with this MPN. 
2nd click The pnote was completed electronically and note the expiration date is 07-18-2008, exactly one year from the date the pnote was received. Once an origination record has been linked to the MPN and a disbursement has been accepted then the MPN expiration date will change to 07-18-2017

What happens if no loans with actual disbursements are linked to this prom note in a year’s time? the pnote will be marked inactive  1 year from the date of receipt.

## 18

**Notes:**
Another part of the promissory note process that you can research from the COD website is whether your PLUS borrower’s credit has been accepted or declined. As a school you can see the decision and the decision date. Your institution needs to have a written policy in place on how you will handle declined credit checks– will you allow borrowers the time to appeal, obtain an endorser, or will you proceed with an unsubsidized loan for your borrower. 

Ok we have seen how the COD website can assist us with the pnote process in the DL cycle. Now let’s move on to look at specific direct loan origination and disbursement data. 

## Direct  Loan Processing Cycle

- Promissory Note

- Disburse

- Reconcile

- Originate

**Notes:**
Ok, now that we have seen how we can use COD to help us with the Promissory note process of Direct Loans, lets move on to look at specific origination and disbursement data.

## Person

- Person: Direct Loan Information

**Notes:**
After logging onto COD, click on the Person menu button in the top blue bar and enter in the borrower’s SSN.

## 21

**Notes:**
By selecting Direct Loan from the menu choices on the left we can choose to display either all of the borrowers loans that are in COD or just the loans for a specific year.  Notice from the year drop down box that the only years available are those in which the borrower has Direct Loan data in the COD system. In this case, 2003/04, 2006/07 and 2007/08.
Highlight the award id, consists of SSN of the student (differentiate from borrower – Plus loan will not have parent’s ssn in award id but if it is a grad plus loan then the student and borrower id will be the same), loan type indicator, schools G code and award sequence number, also look at award amount approved and disbursed.

## 22

**Notes:**
Clicking on the Award ID of the selected loan on the previous screen takes user to this award detail view which includes amounts approved/disbursed; loan period start and end dates; grade level; prom note and disclosure print options, booked date, fee, etc.

As noted earlier, we can use the Promissory Note link from here to view information on this borrower’s MPN data.

We’ll look at the disbursements link shortly. 

## COD: Services menu

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**Notes:**
If we need to identify which loans remain in unbooked status, as well as which MPN’s are not yet linked to an origination record we can use reports available at COD to assist.

From the services menu you can choose to look at COD reports by clicking the hyperlink in the middle of the screen or pass through to the Direct Loan servicing web page by clicking direct loan servicing to the left. The COD web site serves as a portal for servicing, one log in works for both sites.

First we’ll  click on the cod reports hyperlink.  Then we will move to the servicing site to look at what is available there

## Direct Loan newsbox

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**Notes:**
This takes us to the school’s newsbox. On the left hand side of the screen you can clidk on either PL for PELL or DL for Direct loan to access the newsbox for that program containing your school’s reports.
(the numbers before PL and DL are the school’s cod id) We have selected the DL newsbox

Notice all of the reports by award year available to view or download. If you click on the name of the report you will be taken to the current version of that report. If you click on the word actions right below the report title you are taken to a screen that allows you to choose between current and previous versions as well as the way you want the report to appear, ie, comma delimited, pdf, etc.
Let’s look at a pdf version of the 30 day warning report

NOTE: if you are having trouble getting to this screen you may have pop up blockers turned on. Turn them off  and you will be able to access reports. If you still cannot access please call customer service for assistance

## 25

**Notes:**
The 30 Day warning report provides a listing of unbooked loans, as well as MPN’s without an origination record. 

The “Loans Pending Booking Section” identifies which loan origination records are missing element(s) required for booking:  with a “Y” or “N” in the Prom note or Disbursement record column indicates if one or both are still needed for booking that loan.

The Promissory Notes Without Origination Records section identifies MPN’s that have not been linked to a loan origination record.  

The report is available at COD or can be received via SAIG.  School selects the reports it wants to receive in the options menu of COD website.  

## Inactive Loans

**Notes:**
Another report available from COD is the Inactive loan report which can be used to identify inactive loans that should be active or vice versa. 

## Direct  Loan Processing Cycle

- Promissory Note

- Disburse

- Reconcile

- Originate

**Notes:**
We’ll look next at the disbursement step and the relevant screens.

## 28

**Notes:**
Before we discuss the disbursements let’s talk a little about navigation. The menu choice highlighted in the Blue bar is Award, but we actually navigated to this screen within COD by going through Person. To navigate in the award menu you have to type in accurately the entire 21 character award ID. Not a choice many people make. But you can always easily reach award information through the Person menu selection. Also notice what we call “bread crumbing” will help you return to previous screens—these are the words in brown font at the top of the page to the right of “Return to:”  For instance from this Disbursements screen we can return in order to Award Detail, Direct Loan Awards, Person Detail—or jump directly to Person Detail and skip the intervening screens we used to reach this page. 

This screen displays totals for amount disbursed and totals for fees as well as the net amount received by the school.
It also displays summary information for each disbursement. Notice for disbursement 2 that the disbursement date was 1-1-2007 for the net amount of $2709 and the status is disbursed. If we want to see more information about this disbursement, we can click on the #2 (notice it is a hyperlink)

## 29

**Notes:**
Additional information for Disbursement #2 displayed here is: the date that COD processed the disbursement as well as the sequence number. If a disbursement has a sequence number higher than 1, you might want to click on the history menu selection on the left hand side to see other sequence actions for this disbursement number. 

## 30

**Notes:**
This screen displays all of the events or actions taken for a particular disbursement. Let’s look at the history or “sequence” of events for Disbursement 1
Disb 1 seq 1 On 7-12-2007, the school sent in a net disbursement for $4207.00 with a disbursement date of 7/12/07 and Cod responded 7/12/07. Since the disbursement already had an accepted promissory note and origination record on file, disb 1 seq 1 booked the loan and you can see the booked date on the right hand side.
The next action taken by the school, Disb 1, seq 2, was sent to COD on 7-18-07. The school reduced the disbursement amount by $4186. Notice two things, 1 the disbursement date remains the same and two, although the school would have sent in the positive net amount disbursed or the replacement value for that disbursement (in this case, $21) the COD system displays how much the disbursement was reduced by.
The final action taken by the school occurred on the same day, 7-18-07, Disb 1, Seq 3, where they zeroed out the disbursement. The school would have sent to COD Disb 1 Seq 3 $0
The disbursement history screen is an invaluable tool in researching the sequence of events taken with a particular disbursement and to confirm that it reflects accurately the steps your school performed with this account.
Why did the booking date change? (for trainer information also) answer on “the books”
Another type of research you can perform is identifying edit code rejects on origination and disbursement records through the Batch menu.

## 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

**Notes:**
The funded disbursement listing from COD, whether received via SAIG or viewed at the website gives the school a view 

## 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

- 32

## Direct Loan servicing reports

- 33

**Notes:**
Now we are going to look at Direct Loan servicing reports available on the DL servicing website which we showed you how to access from the COD services menu a few slides ago
Here are the four report links available through Direct Loan servicing 1) entrance counseling 2) exit counseling 3) delinquency reports and 4)portfolio reports. We are going to look at the first 2

## Entrance counseling reports

- Choose by main campus or branch
- Select date range/or predefined date range

- 34

**Notes:**
There are two query options for viewing entrance counseling reports either by date range or by SSN. When You do your query selection you can choose to view by main or branch campus as well as setting a date range or selecting a predefined date range
You can also request that the reports are exported to your SAIG mailbox or you can view the pdf file.

Look at the top right of this screen where it says “Help with this report” All kinds of information is available including export formatting options (excel or comma separated version, CSV)

## Exit counseling choices

- 35

**Notes:**
3 choices for exit counseling. The detailed version contains references (very detailed) whereas the exit counseling by date or ssn lists who took and completed the exit counseling session with their results.
Entrance and Exit counseling reports can assist you with compliance issues such as making sure first time borrowers have an entrance exam before disbursing funds and making sure that all student borrowers graduating or dropping below half time status have completed exit counseling.

Now we’ll shift back to COD to explore some tools available for your school to assist with reconciliation

## Direct  Loan Processing Cycle

- Promissory Note

- Disburse

- Reconcile

- Originate

## 37

**Notes:**
The school summary menu is a great snapshot of your school’s current cash by program and award year. You will want to pay special attention to any dollar volume populating the first line- Cash >Accepted and Posted Disbursements and older than 30 days. If there is a positive value there you are out of compliance with the 30 reporting requirement!!!

The other cash >accepted and posted disbursements shows funds drawn from Gaps within the past 30 days and no disbursements have been accepted by COD yet to “substantiate” those funds. Substantiation is a fancy word for telling federal student aid who received the money.

Please make sure contact information is updated!!!

## 38

**Notes:**
The Cash Activity screen is a really useful reconciliation tool. You can view program and award year data by changing the selection in either or both drop down boxes.
At the far right notice the scroll bars. You can scroll to the right horizontally to see all of your draw downs and whether or not the funds have been completely substantiated (accounted for) OR, You can choose printer friendly right above that box and all of your cash drawdowns will be displayed vertically and you can print a similar report from GAPs and compare them side by side if you need to resolve cash discrepancies.

Use this to check if drawdowns have been made by your business office

Additional information if time permits to share – You can track your 30 day reporting requirement – notice the funds drawn down on 7/18/07 ($215,000) No disbursements have been received to substantiate those funds. It has been 1 day since the school drew the money and didn’t report the disbursement (or get disbursements accepted) and they have 29 days left for on time reporting.
Also may want to mention FIFO – first in first out accounting principle. I May send in disbursement records to substantiate the 7/19 draw of $165, 000 but if I have not sent in disbursement records to substantiate the 7/18 draw then the system will apply the disbursement amount to the first in cash draw and will substantiate $165,000 of the $215,000 requested on 7/18

This is updated as of the previous night processing – just an fyi for the presenter – school may want to use a combination of this screen and funding info if there is a discrepancy

## 39

**Notes:**
School balance confirmation is your school’s way of confirming your net drawdowns and disbursements for Direct Loans for a particular award year and confirming close out for the year. You are certifying that your school’s internal cash balance is $0 for the year. Closing out a year means two things. You will no longer receive direct loan reports (including the School account statement) for that year and you will no longer be able to submit disbursement records for the award year. You are telling us you are done with this year.
So what happens if as the result of an audit or some internal school review that you notice you need to “open” the year back up so you can report disbursements to COD. Contact customer service who will work with Direct Loan operations to reopen the year briefly while you submit those disbursements.

Our next slide will show school correspondence which you can select by choosing the menu option two from the bottom on the left hand side.

## School: Correspondence

**Notes:**
Schools can re-request  or view direct loan close out letters, remaining balance confirmation letters or extended processing letters. If you ask for the letter to be sent again it will be generated and redelivered to your school. (how it is sent to the school depends on the type – remaining balance is an email so will be resent via email- Close out is paper letter so new letter to President and FAD will be resent)
But what can be really useful, especially if you have your annual auditor in your office asking to see confirmation of your Direct Loan closeout You can choose view, click view letter in the bottom box and voila you show your auditor that he or she can rest easy and even print it out for them right then and there. If they want something more official then just click request again as well.

## School: Report selection

- 41

**Notes:**
Last but not least from the school menu is Report selection. Just like the options menu this is year specific. So how you choose to receive reports needs to be set each year because COD defaults to preset options 
Choices are Preformatted, comma or pipe delimited (which can e imported into excel) and for some you can choose to not distribute the report. 
Most important on this screen is the modify SAS option hyperlink in the middle of the page.
Let’s click there and go to the next slide

## School: SAS options

- 42

**Notes:**
SAS is run once at the end of the month. If you change options they wlll apply to the next regularly scheduled run.

Please refer to DL tools of the trade handout (the following is for trainer information and depending on time may or may not be used)Believe me you will not have time to mention the data below
SAS Options:
o       Report Format (Fixed Length*, Comma-Delimited, Comma-Delimited With Headers, Pipe-Delimited) – This determines which format will be used to generate the report for your school.  NOTE: If you plan to use DL Tools to format your report and/or run a comparison to school records, you must select Fixed Length.
o       Include Names of Borrowers (Yes/No*)–.  This option is available for all formats EXCEPT Fixed Length, Disbursement Detail (Monthly or YTD).
o       Report Activity Type (Monthly*, Year-to-Date, Both) – This option will determine whether your school receives Monthly, YTD, or both Monthly and YTD Cash Detail in your SAS Report(s).  It will also determine the level of detail you can choose to receive in the Disbursement and Loan Level Detail sections of the report (these options are set separately, since disbursement/loan detail is optional for schools to receive).  NOTE:  1) If you choose both, your school will receive at least two separate SAS reports each month – one with Monthly detail, and one with YTD detail.  2) If you wish to use the DL Tools software to compare the SAS to your internal school records each month, you must receive YTD detail on the SAS report.
o       Sections of SAS to Receive:
o       Summary by Loan Type (Yes*/No) – This refers to the Disbursement Summary by Loan Type section of the SAS report.  Many schools find this information useful in determining loan volumes disbursed by each loan type (Sub, Unsub, PLUS, or Totals).
o       Disbursement Detail (Yes*/No for Monthly and/or YTD, based on the Report Activity Type chosen above.) - This section of the SAS provides transaction-level detail of all disbursements and adjustments accepted or booked during the reported period.  
o       Loan Level (optional) – (Yes*/No for YTD only.  If you choose Report Activity Type Monthly, you will not be able to receive Loan Level Detail and this field will display “N/A.”)  This section of the SAS provides total disbursed amounts for each loan that was accepted and/or booked on COD for the program year-to-date.  This section of the SAS is not available for a monthly period.

## Direct Loan Tools

- View/Print the SAS in a readable format
- Compare School and COD origination and disbursement data
- Record and Monitor Cash
- Rebuild an EDExpress Database

**Notes:**
Review bullets on slide. Any school regardless of your software can use the first three choices.  We are going to focus on the first bullet only which is easily used by all direct loan schools

## YTD Cash Summary

- 44

**Notes:**
We’ve have downloaded and installed DL tools software, which is a annual release. The we have chosen the option to Import SAS from the DL tools menu bar. After the SAS is imported, then we select print (to screen or to paper) to view the information recorded in COD. These reports are the Department’s official records of your schools Direct loan processing which underscores the importance of working with your SAS monthly. This is the information that you will be accountable to. If it does not reflect accurately your school records than you need to make adjustments in either COD or GAPs.

The Cash Summary can be printed out in both YTD and Monthly summary version – as long as the school is requesting both a monthly and YTD SAS
It is very important to be able to account for all of the cash received. Notice that this school has and ending cash balance of $7, 264 as of the date of the report run 7/31/07. 
Just like balancing your check book this may be ok as long as you know that you have either outstanding deposits or Checks that have not cleared your bank account.
With Direct Loans this may also be the case, maybe the cash or disbursements were reported to COD after the date of the report. 
THE KEY is you must on a monthly basis be able to account for all of your cash and disbursements and Using Direct Loan tools to read your SAS can assist you to do that.
The next slide shows the detailed cash receipts and refunds

## Sample Cash Detail

- 45

**Notes:**
The cash detail lists all of the receipts of cash and refunds. This report is especially useful during this time of year when funds are possibly being drawn down for two award years. You will want to look at this very carefully to ensure that funds have been deposited and refunded to the correct award year.

## YTD Disbursement Summary

- 46

**Notes:**
The YTD Disbursement summary report can assist you in identifying unbooked loans by program. In this example the school has net Sub and Unsub unbooked loans that they need to resolve. To find out which loans these may be you would need to examine the next report we will view. The Loan and disbursement detail report

## SAS Loan and Disbursement Detail

**Notes:**
This report will show both booked and unbooked loans as well as any adjustments made to the loans.
The first line gives loan information and the subsequent lines give detailed disbursement information for that loan.
Look at the second Loan with three disbursements – notice that the top line has the loan total and the lines beneath have Disb 1, SEQ 1, Disb 2, SEQ 1, Disb 3 SEQ 1.

(TRAINER NOTE only – this school must have been eligible to make all disbursements at one time – but their software may not have been able to send just one disb so they broke it into 3.... Also if you notice the orig fee is $24 instead of $25... that is because the fees are calculated at the disbursement level and they may not sum up (due to rounding logic) to what the total orig fee would be if you were taking out of the loan itself instead of out of each disb...let me know if this does not make sense to you)

## Locating Direct Loan Information on http://IFAP.ed.gov

- Tools for Schools
- COD CBT
- EDExpress WBT
- Direct Loan/COD Listserve
- Letters and Bulletins
- Direct Loan Bulletins

**Notes:**
To assist you in locating Direct Loan information we have provided you with another handout. Please refer to Using IFAP to locate Direct loan information.
On the next two slide we have listed tools for you by IFAP area. First look at the resources available in the Tools for Schools section.
An updated COD CBT was posted on IFAP recently (end of Sept beginning of Oct) This is a downloaded self paced 8 lesson training tool to help you learn how to use the COD website in processing Grants and Loans.
The next tool we want to highlight is specifically for EDExpress users and it has an excellent lesson on processing Direct Loans if your institution software provider is EDExpress. This is a web based product that you do not download but use right on the web.
Last in the Tools for Schools section is “listserves” Please make sure you have signed up for the Direct loan/ COD listserve. This is the method that Direct Loan operations and COD customer services uses to directly communicate important information with Direct Loan schools. This is not an interactive list serve but just one used to push important communications to the Direct loan community.

Direct Loan bulletins are posted by award year and order of posting here.

## Locating Direct Loan Information on http://IFAP.ed.gov

- Publications
- COD technical reference
- Blue Book
- Laws and Regulations
- Code of Federal Regulations (CFR 685)
- Links
- Direct Loan web site
- ordering publications

**Notes:**
In the publications section you’ll find the COD tech ref and the Blue Book. 
The COD tech reference contains a plethora of information. Especially useful and necessary reading is the Implementation guide which includes COD processing tips such as making award or disbursement changes, You’ll also find Edit code reject and resolution information and detailed COD report types and examples.
While the Blue Book is primarily a tool for the Business office you will find important information here regarding Direct loan cash management such as returning funds electronically.
Many of you may not know but the Code of Federal Regulations in the Laws and Regulations section of IFAP was converted this year to electronic format. What is in it for you there? Well it is current and real time information – Example of the prelim and final regs from HERA, in the printed form you had to compare them side by side because not everything that was final was put in the final regulation But with the electronic version everything is there real time.

By clicking on Links found at the top of the page on IFAP, scroll down or click on the D to move quickly to the section where you can fnd the Direct Loan website. This is a one stop shop where you can find information useful to both borrowers and financial aid administrators – such as ordering Direct Loan publications

## Direct Loan Assistance

- COD customer service
- 1.800.848.0978
- Codsupport@acs-inc.com
- Direct Loan Operations
- Dlops@ed.gov

**Notes:**
COD customer service is available from 8-8 Eastern time to assist you with any Direct loan/COD issues. The customer service representatives can help you resolve processing issues, request reports and change school options. There is also a team of reconciliation specialists that are readily available to assist you in monthly cash, loan and disbursement reconciliation.
We’ve also listed the direct loan operations email. Please use this if you have more general Direct Loan operational questions.