The Common Origination and Di b t S t _COD_ Disbursement System

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The Common Origination and Di b t S t _COD_ Disbursement System Powered By Docstoc
					The Common Origination and
Disbursement S t
Di b       t System (COD)
        NASU Conference 2012
          St. Petersburg, FL
                Da is
        Barbara Davis

    U.S. Department of Education
         Federal Student Aid
           678.721.4452
                     @ g
       barbara.davis@ed.gov



2
Agenda
• COD     Release 11.0
    • New Award Year      p
                      Setup
    • Spring 2012 Enhancements
  CO
• COD     Release 11.1
    • Reduction of Pell Grant Life-Time Used (LEU)
     duration from 900% to 600%
• COD  Release 11.1.1
• COD Release 11.2
• What’s coming in 2013-2014



3
New Award Year Setup
The 2012-2013 COD New Award Year Setup
                         9
was implemented on March 9, 2012
    • Schema 3.0e
    • Enrollment School Code
    • MPN status code “E”
    • Modification to Direct PLUS Loan with a
      pended/denied credit decision
             g
    • Funding method remains Advance Cash for all
      schools


4
Spring 2012 COD Enhancements
New Legislation

     • The Budget Control Act of 2011
     • The Consolidated Appropriations Act of 2012




 5
Spring 2012 COD Enhancements
 The Budget Control Act of 2011
     •   Termination f              ti    ti    i
         T i ti of repayment incentives, i.e., upfront f t
         interest rebate
     •               g     y
         Loss of eligibility for Graduate/Professional Student
         Direct Subsidized Loans

 Consolidated Appropriations Act of 2012
     •   Reduction of Pell Lifetime Eligibility Used (LEU)
         duration from 900% to 600%
     •   Applies to ALL Federal Pell-eligible students
         effective with the 2012-2013 award year

 6
Spring 2012 COD Enhancements
     In April, COD added functionality that validates
     the i t    t b t         t           li t
     th interest rebate percentage vs. earliest
     disbursement date (EDD) on Direct Subsidized
     & Unsubsidized Loans
     • EDD  on or after July 1, 2012 upfront interest rebate
       percentage 0%
                  before June 30, 2012 upfront interest rebate
     • EDD on or b f            30        f      i         b
       percentage remains .5%
     • NO CHANGE TO ORIGINATION FEE…1.0%




 7
Spring 2012 COD Enhancements
    In April COD added functionality that will
          t f ti t        t b t      l     f 1 5%
    accept upfront interest rebate values of 1.5% OR
    0% on Parent and Graduate/Professional Student
    Direct PLUS Loans
       ec     US oa s
    • EDD  on or after July 1, 2012 upfront interest rebate
      percentage 0%
                 b f     J     30        f      i         b
    • EDD on or before June 30, 2012 upfront interest rebate
      percentage 1.5%
    • NO CHANGE TO ORIGINATION FEE…4.0%




8
Spring 2012 COD Enhancements
    In April COD began to generate an “Interest
            Percentage
    Rebate Percentage” Report
    • IdentifiesGraduate/Professional Student Direct PLUS
      Loan originations with an incorrect upfront interest
        b t        t
      rebate percentage
    • Generated weekly and posted in your School NewsBox
     • CSV format
         with an incorrect interest rebate percentage
    • Loans
     MUST be “fixed” before loan books
     • I         loan MUST b reduced to $0 and a NEW Di
       Incorrect l          be d d           d       Direct
       Plus Loan must be originated



9
COD DL Newsbox




10
Interest Rebate Percentage Report




11
Spring 2012 COD Enhancements
In April COD added functionality to provide an
                                Pell eligible 2012-
interim process for schools and Pell-eligible 2012
13 FAFSA applicants to address the LEU reduction
from 900% to 600%
 • COD began to send targeted email messages to all 2012-
   2013 FAFSA Pell-eligible applicants near, or exceeding,
   an LEU percentage of 600%. This email outreach to
   applicants was completed June 30, 2012
 • A new 2012-13 Pell LEU Report identifying 2012-2013
   Pell-eligible
   Pell eligible applicants with an LEU greater than or
   equal to 450% was instituted and will continue to be
   produced through June 30, 2013

 12
COD Newsbox Pell LEU Report




13
Pell LEU Report




14
 p g
Spring 2012 COD Enhancements
•    And last but not least, Enrollment School Code
           i
     reporting
     • EA 2012-03-02- COD New Award Year Release
     • EA 2012-04-06 Upcoming Enhancements to
       NSLDS…
     • July 6, 2012 NSLDS Newsletter #39




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CODES for 2012-13
•    Direct Loans/Teach Grants
     •   Direct Loan G or E code (part of the origination record) or
         Teach Grant- first 6 digits of the OPE ID
     •   COD reporting/attended entity ID (your 8 digit COD ID)
     •   School enrollment code- the 8 digit OPE ID of where the
         student is physically attending
•    Pell Grants
     •   COD reporting/attended entity ID (your 8 digit COD ID)
     •   School enrollment code- the 8 digit OPE ID of where the
         student is physically attending


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COD Release 11.1- July 7, 2012
• Edit for Grad Subsidized loans
• Automated Direct Loan extended processing
        School     it i
• COD S h l monitoring report   t
• Pell LEU enhancements
• Financial Aid Counseling Tool




17
COD Release 11.1
     COD implemented functionality to edit
     Graduate/Professional Student Direct
     Subsidized Loan eligibility
      • COD will reject a Direct Graduate/Professional
        Student Subsidized Loan with a loan period
        beginning on or after July 1, 2012
      • Annual loan limits for Direct
        Graduate/Professional Students remain unchanged
          •   If loan period on or after July 1, 2012, loan limit all
              Unsubsidized Loan funds




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COD Release 11.1
     Direct Loan Extended Processing requests for
     closed award years can be made via the COD
     web (similar to Grants)
      • Access the new online request functionality at:
        https://cod.ed.gov
                             ,          q
      • Click on School menu, then “Request Post
        Deadline/Extended Processing” link
      • Direct Loan is now available in the Program drop-
        down menu



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COD Release 11.1




               Be specific, but no PII, please!




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COD Release 11.1
COD has enhanced the weekly School Monitoring
Report
  p
     • Contains the same important information as the
       original emailed report
       Distributed weekly via…
     • Di ib     d     kl i
         – Your SAIG Mailbox in a preformatted text file
           (SCHMONOP)
         – Your COD Newsbox (Direct Loan or Pell) in PDF format
     •   Allows for increased access to reports by authorized
         users at the school



21
COD School Monitoring Report




  22
COD School Monitoring Report




 23
COD Release 11.1


                             g      y
     Pell Grant Life-Time Eligibility
      Used (LEU) Reduction From
                    t
             900% to 600%



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COD Release 11.1
With Release 11.1 on July 7, 2012, the COD
System modified the following Pell LEU
functionality
 • COD will return the calculated LEU in the Common
   Record (CR) response for ALL Pell recipients for Award
   Years 2010-2011 and forward
 • COD will send Pell LEU to NSLDS on all Pell awards
 • Pell LEU notification emails to applicants no longer sent




 25
COD Release 11.1
With Release 11.1 on July 7, 2012,the COD System
modified the following Pell LEU functionality
 • COD will display Pell LEU on the COD website for all
   Pell recipients
 • A new COD Pell LEU History page will be available on
   the COD website to allow a school to view historical
   Pell Grant student data to determine how the Pell LEU
   was calculated
 • Modifies current COD Warning Edits #177 & #178 to
   reflect new Pell LEU limit



 26
COD Release 11.1
Pell edits #177 & #178 are WARNING edits
 #              Message                             Updated Trigger

177 Lifetime Percentage of             For all Pell awards, a student’s LEU is
    Eligibility Used is   the
    Eligibilit U d i near th                           d
                                       > or = 450% and < or = 600%
    lifetime limit
178 Lifetime Percentage of             For all Pell awards, a student’s LEU is >
    Eligibility Used has exceeded      600%
    the lifetime limit

      Note: There i NO HARD REJECT EDIT in COD th t prevents a
      N t Th      is                             i       that      t
      school from disbursing Pell to a student with an LEU of > 600%.
      Schools must monitor LEU closely.



 27
COD Release 11.1
COD currently provides the LEU on the
following Pell Grant SAIG preformatted reports
for 2010-2011 and forward
      • P ll Grant Multiple R     ti Record (MRR)
        Pell G t M lti l Reporting R      d
      • Pell Grant Reconciliation Report
      • Pell Grant Year to Date Report
          ll G

       Note: A student must have been disbursed a Pell Grant in an award year for
       the student’s LEU to populate on a school’s report




 28
COD Release 11.1
With Release 11.1 on July 7, 2012, the COD
website was modified to provide additional Pell
LEU information
      • P      Pell I f    ti P
        Person P ll Information Page
      • Pell LEU History Search page
      • Pell LEU History page
         -   Export capability in CSV format




 29
COD Release 11.1




30
COD Release 11.1




31
COD Release 11.1




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   COD Release 11.1
                                                             Pell LEU History
                John A Doe
                123456789
                5/14/1969
                                                          Pell Grant Summary

Pell LEU        Attending School
                Year '12‐'13
                                                    Eligibility Used
                                                      
                                                                          Total Amount  DMCS Amount  Scheduled 
                                                                                                      

History
                COUNTY COMMUNITY COLLEGE       100.0000%                  $5,550.00                  $5,550.00
                Total Percent Eligibility Used for  100.0000%
                Year '11‐'12                                                                          
Page            COUNTY COMMUNITY COLLEGE            100 0000%
                COUNTY COMMUNITY COLLEGE       100.0000%
                Total Percent Eligibility Used for  100.0000%
                                                                          $5 550 00
                                                                          $5,550.00                  $5 550 00
                                                                                                     $5,550.00

                Year '10‐'11                                                                          
                COUNTY COMMUNITY COLLEGE       100.0000%                  $5,550.00                  $5,550.00
                Total Percent Eligibility Used for  100.0000%
Export to CSV   Year '09‐'10                                                                          
                COUNTY COMMUNITY COLLEGE       100.0000%                  $5,350.00                  $5,350.00
                Total Percent Eligibility Used for  100.0000%
                Year '08‐'09                                                                          
                COUNTY COMMUNITY COLLEGE       100.0000%                  $4,731.00                  $4,731.00
                Total Percent Eligibility Used for  100.0000%
                Year '07‐'08                                                                          
                COUNTY COMMUNITY COLLEGE       11.6009%                   $500.00                    $4,310.00
                Total Percent Eligibility Used for  11.6009%
                Year '06‐'07                                                                          
                COUNTY COMMUNITY COLLEGE       12.3457%                   $500.00                    $4,050.00
                Total Percent Eligibility Used for 12 3457%
                Total Percent Eligibility Used for  12.3457%
                                         Lifetime Eligibility Used: 1414.04%

     33
NSLDS/CPS Enhancements



     Corresponding NSLDS/CPS
     C        di
              Changes



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NSLDS/CPS Enhancements

In J l                t                ti “ t h
I July 2012 COD sent NSLDS a one-time “catch
up” file from award year 1973-1974 and forward
f Pell Grant recipients and their Pell Grant LEU
for P ll G t i i t        d th i P ll G t
      • Subsequent changes will be transmitted to NSLDS
        from COD
        f




 35
NSLDS/CPS Enhancements
Pell LEU Update - NSLDS
COD calculates Pell LEU for all Pell recipients and sends
it to NSLDS.
      • NSLDS records updated with the COD LEU data
      • Displays LEU on the Professional Access-Grant Page,
                             Section,
        Student Access Grant Section and on Transfer
        Monitoring/FA History files
      • NSLDS will provide LEU information to the CPS via the
                     p
        pre-screening and post-screening process
      • COD should be considered the system of record for Pell
            data
        LEU d t
 36
NSLDS/CPS Enhancements
Pell LEU Update - NSLDS/CPS
Addition of a new Pell Grant Lifetime Limit Flag in
p           g
pre-screening match between NSLDS and the CPS:
    • E = Limit met or exceeded (= or > 600%)
    • C = Close to limit (> 500% but < 600%)
    • H = High % warning (= or > 450% but < or =
      500%)
    • N = No problem

  37
NSLDS/CPS Enhancements
Pell LEU Update - NSLDS/CPS
New NSLDS post-screening Reason Codes for match
between NSLDS and CPS:
     Reason Code                     Description
         20        Pell Grant eligible and met/exceeded Pell LEU
                   li it
                   limit
         21        No longer meeting/exceeding Pell Grant LEU
                   limit
         22        Pell Grant eligible and close to Pell LEU limit

         23        No longer close to Pell Grant LEU limit



38
NSLDS/CPS Enhancements
Pell LEU Update - NSLDS/CPS
In July 2012, the CPS began reporting Pell LEU
information for 2012-13 award year on ISIRs and
SARs.
     • Pell Information reported using comment codes
        -   To alert schools and applicants who are close to or have exceeded
            600% LEU
        -   Avoided mid-cycle changes to the ISIR record layout
        -   Refer to the reissued 2012-13 SAR/ISIR Guide
     • Pell Grant LEU limit flag WILL NOT be added to the
             ntil 2013-14
       ISIR until 2013 14

39
Financial Awareness Counseling


     Financial Awareness Counseling




40
Financial Awareness Counseling
The Financial Awareness Counseling Tool (FACT)
was implemented on the StudentLoans.gov
website with COD Release 11.1
     •   Available whether the user is signed in or not
     •   Signed in students view their financial information
         from NSLDS
     •   Receipt of Federal Student Aid cannot be tied to
         FACT session completion
                            p
     •   Does not replace Entrance Counseling requirement


41
Financial Awareness Counseling
FACT was developed to
      • P id a centralized, online source of financial
        Provide          li d li              f fi    i l
        literacy information for students
      • Assist borrowers in making informed postsecondary
        funding decisions
      • Provide schools with educational resources about
        federal student aid
      • Support government-wide efforts to improve
        financial capability in the US through the Financial
        Literacy Education Commission

 42
Financial Awareness Counseling
                      The 5 Financial Awareness Counseling modules are…

   Understand            Manage Your                                                    Make Finances 
                                              Plan to Repay        Avoid Default
    Your Loans            Spending                                                        a Priority




Your Student Loans   Manage Your          Estimate What You    Avoiding Default     Plan for the Future
Loan Basics
L    B i              Spending While in 
                       S    di Whil i        Will Owe, Spend, 
                                             Will O    S   d      Postpone or Lower 
                                                                  P            L       Your Income & 
                                                                                        Y    I        &
Free Money First      School                and Earn              Your Payments         Taxes
Types of Student     Live Within Your     Understand           Forgive or Cancel    Your Credit & 
 Loans                 Means                 Repayment             Your Debts            Identity
                      Borrow Smart                               Delinquency and      Credit Cards & 
                                                                   Default               Other Borrowing
                                                                                         Other Borrowing




   43
Financial Awareness Counseling




44
 Financial Awareness Counseling

Schools can receive
acknowledgements
‘On-Demand’ or ‘Daily’
School participation is
defaulted to ‘Yes’ and their
acknowledgement receipt
schedule to
 On Demand
‘On-Demand




    45
Financial Awareness Counseling
Financial Awareness Counseling has been
              ith     e isting
consolidated with the existing COD Report of
Entrance Counseling
      • E i i Direct Loan Entrance Counseling Report
        Existing Di    L     E         C      li R
        renamed “Counseling Report”
      • Each report row will represent one completed
        session
      • There can be multiple Entrance Counseling of
                          p                      g
        Financial Awareness Counseling records for each
        borrower

 46
Financial Awareness Counseling
The Counseling Report is generated in CSV format
                        by SSN,           b
and is sorted ascending b SSN descending by
completion date and then descending by
completion time
      Value                                Description


        S     Subsidized & Unsubsidized


       P      Subsidized, Unsubsidized, & PLUS 
              Subsidized Unsubsidized & PLUS


        L     Financial Awareness Counseling 




 47
 Financial Awareness Counseling

          SSN,
Search by SSN
Date Range,
      Year
Award Year, or
Counseling Type




  48
Additional COD Releases


       COD Release 11.1.1
             And
        COD Release 11.2



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COD Release 11.1.1
FSA is creating an electronic IBR application with an
IRS data retrieval function that will be available on
the StudentLoans.gov website this Fall
       • I t t is to meet the business need to increase the
         Intent i t      t th b i           dt i          th
         efficiency and take-up rate of placing and maintaining
         borrowers on the IBR plan
       • Will utilize similar IRS data retrieval capability
         currently available for FAFSA on the Web to allow
         IBR applicants to retrieve and transfer income
         information into their online IBR application

  50
COD Release 11.2
With COD Release 11.2 on November 9, 2012
      ill implement
COD will i l
     • Final modifications for ending eligibility for
       upfront Direct Loan interest rebates on Direct
       PLUS Loans
        -   COD system will edit on EDD and interest rebate percentage on submitted
            loan origination data

     • Experimental Sites for Direct Loans
     • Retirement of Warning Edit 111


51
COD Release 11.2
COD Release 11.2 will implement functionality that
 ill j        Di     P         G d      S d
will reject a Direct Parent or Graduate Student
PLUS Loan
      • If the EDD is on or after July 1, 2012 and the interest
        rebate percentage is greater than 0%
      • If the EDD is on or before June 30, 2012 and the
        interest rebate percentage is any other value than
        1.5%
        1 5%
      • Origination Fee remains at 4%


 52
COD Release 11.2
COD Release 11.2 will implement Experimental
Sites f i li f Di           Loans
Si functionality for Direct L
     • Single disbursement of a one term loan for study
       abroad students at approved Domestic and Foreign
       schools
     • EDD f study abroad students at approved
              for d b d d                           d
       Domestic schools and students enrolled in Foreign
       institutions up to 30 days before start of classes
       (before the award begin date)


53
 COD Release 11.2
COD Release 11.2 will retire Warning Edit 111
   • Applies to all award years
   • For the Direct Loan and Perkins programs

    Edit #                                Message

        111   First Actual Disbursement was submitted less than 5 days prior to
              the first disbursement date without an indication that the school
              printed/provided a disclosure statement




   54
What’s “On Deck”


     Planned enhancements to COD
                  for
         Award Year 2013-2014



55
What’s “On Deck”
With COD Release 12.0 on March 8, 2012 COD
 ill i l        h f ll i f        i li
will implement the following functionality
     • Award Year 2013-14 New Award Year Set-Up
     • Direct Loan and TEACH School Account
       Statement (SAS) disbursement detail available On
       Demand
       D      d
     • Direct Loan Origination Tool Enhancements

             Stay Tuned For Details!

56
COD Communications
     •   EA 2012-03-02 COD System Implementation for
         2012-2013 (11.0)
     •   EA 2012-04-06 Upcoming Enhancements to
         NSLDS to Accommodate Enrollment Processing
         Changes
     •   EA 2012-06-29 Additional COD System
         Implementation for 2012-13 (11.1)
     •   EA 2012-06-29 Pell Grant LEU Information July
         2012
     •   NSLDS newsletter #39 July 2012

57
Resources
     •   COD Customer Service
          •   Primary Customer Service Representative
          •   COD reconciliation team
          •   800.848.0978 (Direct Loan)
          •   800.474.7268 (Grants)
          •   codsupport@acs-inc.com***
     •   Federal Loan School Support Team
          •   Assigned Point of Contact for your school
          •   Dlops@ed.gov
          •   Electronic Announcement dated July 14, 2011 with all the
              El      i A               d d J l 14         i h ll h
              details



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Resources

     •   COD Technical Reference
     •   Information for Financial Aid Professionals
         (IFAP)
          • Electronic Announcements
          • Dear Colleague Letters
            Web based
          • Web-based training




59
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