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Session _39-Direct Loan Origination Update - PPT File - IFAP

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Session _39-Direct Loan Origination Update - PPT File - IFAP Powered By Docstoc
					Session 39 - 1
                 Session 39



Direct Loan Origination
        Update




                          Session 39 - 2
   Current Processing Update
   Customer Service Enhancements
   Interest Rebate
   LO-Online Changes
   2001-2002 Batch Changes
   Reconciliation Update



                                    Session 39 - 3
                               150,000
                                         300,000
                                                   450,000
                                                             600,000
                                                                       750,000
                                                                                 900,000




                           0
                 Oct-98
                 Nov-98
                 Dec-98
                 Jan-99
                 Feb-99
                 Mar-99
                 Apr-99
                 May-99
                 Jun-99
                  Jul-99
                 Aug-99
                 Sep-99
                 Oct-99
                 Nov-99
                 Dec-99
                 Jan-00
                 Feb-00
                 Mar-00
                 Apr-00
                 May-00
                 Jun-00
                  Jul-00
                 Aug-00
                 Sep-00
                 Oct-00
                                                                                           LO Records Processed




Session 39 - 4
                                        100,000
                                                  150,000
                                                            200,000
                                                                      250,000
                                                                                300,000
                                                                                          350,000
                                                                                                    400,000
                                                                                                              450,000




                               50,000


                           0
                 Oct-98
                 Nov-98
                 Dec-98
                 Jan-99
                 Feb-99
                 Mar-99
                 Apr-99
                 May-99
                 Jun-99
                  Jul-99
                 Aug-99
                 Sep-99
                 Oct-99
                 Nov-99
                 Dec-99
                 Jan-00
                 Feb-00
                 Mar-00
                 Apr-00
                 May-00
                 Jun-00
                  Jul-00
                 Aug-00
                 Sep-00
                 Oct-00
                                                                                                                        P-Notes Processed




Session 39 - 5
                                            Disbursements Processed
$3,000,000,000




$2,500,000,000




$2,000,000,000




$1,500,000,000




$1,000,000,000




 $500,000,000




           $0
                          Dec-98




                                                                                 Dec-99
                                   Feb-99




                                                      Jun-99


                                                               Aug-99




                                                                                          Feb-00




                                                                                                                     Aug-00
                 Oct-98




                                             Apr-99




                                                                        Oct-99




                                                                                                            Jun-00
                                                                                                   Apr-00




                                                                                                                              Oct-00
                                                                                                                                Session 39 - 6
            Current Processing Updates
   Paper Manifests are returned regular mail
   Borrowers are receiving an interest rebate
    without changes to school systems
   Visited schools to learn about various
    processes
   732 report
    • Established a schedule
    • Produced the report for current Program Year

                                             Session 39 - 7
                           Customer Service
                             Enhancements
   Database Check of MPN ID’s
   Created a CSR Career Path
    • Attract longer term people to the job
    • Allow enhanced salary options
   School Visits to the LOC
    • Schools listen to calls
    • Review calls and update training material



                                              Session 39 - 8
                         Customer Service
                           Enhancements
   Requesting 3rd Party Vendor software
    training materials
   New CSR Monitoring Software
    • Records conversations for playback and
      review
    • Used for training enhancements




                                               Session 39 - 9
What’s New




             Session 39 -10
                            Interest Rebate
   Current year (PY 00-01)
    • All changes made in Servicing System
    • LO is notifying borrowers
    • Updates available in Servicing in November




                                             Session 39 -11
                              Interest Rebate
   Future years
    •   Rebate calculated during origination process
    •   Borrower’s “cash in hand” will increase
    •   New data elements on LO record
    •   Details in the DL Technical Reference
    •   USE THE ROUNDING RULES IN THE TECH
        REF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!



                                               Session 39 -12
                    Entrance Counseling
   On the LO Web site November 2000
   Students
    • Access site by using their existing PIN or by
      providing name, SSN, and date of birth
    • Enter the school or schools they would like to
      view the results
    • Walk through counseling and take the quiz
    • Results are stored at the LOC


                                               Session 39 -13
                    Entrance Counseling
   Schools
    • View results from their students online
    • Results retrieved by entering SSN or a date
      range




                                              Session 39 -14
            Data Changes over the Web
   Demographic Changes
    • Implemented in September 2000
   Loan Origination/Change Records
    • February 2001
    • Change data for all program years
    • The LOC will not send an acknowledgement
      back to schools



                                          Session 39 -15
              Data Changes over the Web
   Disbursement/Adjustment Records
    • Restricted access
    • On-line changes will be included in DLSAS and
      732 reports




                                              Session 39 -16
               Data Changes over the Web
   Why is disbursement change restricted?
    • The disbursement sequence number would be
      automatically generated by the on-line update
    • If a school generates a disbursement change
      through the batch process, a disbursement
      sequence number would be generated
    • This could cause duplicate disbursement
      sequence numbers and the record would reject
    • Working on a process on how to allow any
      disbursements/changes
                                              Session 39 -17
              Data Changes over the Web
   Knowing what has been changed
    • Capability to query for changes and save them
      from the web site
       – SSN
       – Loans
       – Date range
    • Access to online historical view of data
      changes



                                                 Session 39 -18
                 Web Enhancements for
                            2001-2002
   Dependency status
    • On the loan detail page instead of the person
      detail page
   E-mail addresses
    • Display e-mail address passed to the LOC
   1st Disbursement
    • Includes the flag that indicates the first
      disbursement on the disbursement detail page


                                              Session 39 -19
                Web Enhancements for
                           2001-2002
   MPN on file
    • Displays there is an MPN on file and also
      includes the expiration date
   Reports
    • Schools will be able to indicate over the web
      if they no longer want a specific report
    • Can select a format for receipt of report
   A “Help File” will be available on the web
    site for common batch processing errors

                                              Session 39 -20
             2001-2002 Batch Changes
   Loan Origination Changes
    • Schools who do not do drawdowns are required
      to change anticipated disbursements with LAA
      changes
    • Credit checks for PLUS loans will be
      acknowledged in a single cycle
    • Upfront Interest Rebate
    • First Name Processing Modified
    • New Grade Level Value Processing

                                            Session 39 -21
             2001-2002 Batch Changes

   New fields on LOR
    • E-mail Address (field #149)
    • Interest rebate field has been added for each
      Anticipated Disbursement




                                              Session 39 -22
             2001-2002 Batch Changes
   Disclosure Statements
    • On the loan level:
      – Giving gross loan amount, loan fee, interest rebate,
        and net loan amount
      – Net loan amount=gross loan-loan fee+interest
        rebate
    • On disbursement level:
      – Net disbursement amount
      – Anticipated disbursement date


                                                     Session 39 -23
             2001-2002 Batch Changes
   Software Testing
    • Beginning in January
    • Test with any software vendor or Mainframe
      school
    • Requires a test G-code
    • Requirements and processes are being
      reviewed
    • Plans are to post successful testers on the LO
      Web

                                              Session 39 -24
                   Reconciliation Update
   Program Years 1995/1996 and 1996/1997
    • Accounted for 99.98% of disbursement
      records for the $15.8 billion drawn down by
      1269 schools




                                              Session 39 -25
                   Reconciliation Update
   Program Year 1997/1998
    • Accounted for 99.9% of disbursement records
      for the $9.4 billion drawn down by 1211
      schools
    • Will send bills to schools with an ending cash
      balance by the end of December
    • Will send close-out letters to schools with a
      zero balance
    • Will close schools at the LOC

                                               Session 39 -26
                  Reconciliation Update
   Program Year 1998/1999
    • Accounted for 99.8% of disbursement records
      for the $9.6 billion drawn down by 1199
      schools
    • The process for sending bills and close-out
      letters will be the same.
    • The final dates will be determined




                                            Session 39 -27
                                   Questions
   If you have technical questions, please send
    them to: loan_origination@mail.eds.com
   Use a subject line of “Technical question”
   Answers will be returned within 3 business
    days
   If an answer cannot be given within 3
    business days, you will be notified
   Please include your name, organization, and
    a phone number

                                            Session 39 -28
             Loan Origination Contacts
   E-Mail Address:
     loan_origination@mail.eds.com
   School Relations at the LOC:
    1-800-848-0978
   School Relations Fax:
    1-800-557-7396
   School Relations at the Servicing Center:
    1-888-877-7658


                                         Session 39 -29

				
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