AES Loan Processing Update by lsd12841

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									AES Loan Processing Update
Automated Loan Services Update

 Put/Direct Loan Servicing
 Security Changes
 Loan Processing Enhancements
 Product Enhancements




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Put/Direct Loan Servicing

 Loan Purchase Commitment Program
 PHEAA‟s role
 Distribution of loan volume




                                3
FedLoan Servicing




                    4
Put/Direct Loan Servicing

 School experience/tools
 School contact information
  800.655.3813
  SchoolSupport@myfedloan.org




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Put/Direct Loan Servicing

 Borrower communications
 Borrower experience/tools
 myfedloan.org




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Security Changes

 System access - Authoritative Source
  Agreement
 Password parameter changes
       characters
  Eight
  Uppercase Alpha
  Lowercase Alpha
  Number

 Additional changes – System Timeout
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Loan Processing Enhancements

 Emailing Notices of Guaranty
 Emailing borrowers when applications
 are available online




                                    8
Product Enhancements

 Account Access Status Information
 Mass Updates
 Loan Counseling
 Alec Loan Certification




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     Updated Status Information
                  Scenario                                             Message
                                             Your loan application was received and school certification
    No Requested Loan Period was
1                                            has been requested. Please allow up to 45 days after
    provided.
                                             classes begin for certification to be completed.
                                             This loan was requested for the enrollment period beginning
                                             [Requested Loan Period Begin Date] and ending [Requested
    The Requested Loan Period will
2                                            Loan Period End Date]. If you still need this loan, you should
    expire in the next 10 days.
                                             contact your school‟s Financial Aid Office to ensure
                                             certification is completed.
                                             This loan was requested for the enrollment period beginning
    If the date is less than 45 days after   [Requested Loan Period Begin Date] and ending [Requested
3   the loan period began and                Loan Period End Date]. No actions are necessary at this
    certification is not completed.          time. Please allow up to 45 days after classes begin for
                                             certification to be completed.
    If the date is 45 days after loan
                                             Your loan application was received and school certification
    period begins and certification is
                                             was requested on [Certification Request Date]. No actions
4   not completed, but the school only
                                             are necessary at this time. Please allow your school up to 10
    received the record in the last 10
                                             days to complete the certification.
    days.
                                             This loan was requested for the enrollment period beginning
    If the date is 45 days after loan
                                             [Requested Loan Period Begin Date] and ending [Requested
    period begins and certification is
5                                            Loan Period End Date]. If you still need this loan, you should
    not completed and the school has
                                             contact your school‟s Financial Aid Office to ensure             10
    had at least 10 days to certify.
                                             certification is completed.
Mass Updates Enhancements

 Update loans which have been certified,
  but not guaranteed
 Updated loans which are guaranteed,
  but not disbursed by AES
 Increased usability and ease in
  processing


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Loan Counseling Enhancements

 Allows schools to provide their definition
  of half-time enrollment
 Updated through counseling registration
 Assists schools in meeting regulatory
  requirement



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Alec Loan Certification

 Stafford, PLUS and Alternative Loan certification
 Move between records without returning to the list
 A withdraw option allowing for a simplified withdraw
  process
 Immediate loan processing results for submitted
  certifications and withdraws
 „Certifications Processed‟ list to view loans recently
  processed
 School-created templates to reduce keystrokes

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  Certification Inbox - Queue List

 To process
individual records
from the queue list,
click on the
borrower‟s name.
 To process the full
listing, select the
“Process All” option.
 To process several
records, place a
checkmark in the
box and choose
“Process Selected”
from the toolbar.


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  Loan Certification

 Complete
Stafford, PLUS and
Alternative loan
certifications from
one display.
 Easily move from
one record to the
next within the list.
 View the
borrower‟s
demographic
information, as well
as his or her other
pending requests
and those recently
processed.

                        15
  Loan Withdraw



 Withdraw
applications quickly
and easily with few
keystrokes.




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  Processing Results


 For loan certifications
and withdraws, you will
receive instant
processing results.
 If there was an error
on the record or
something was
inputted incorrectly,
click “Update
Submitted Data” to
change any field which
you have just
submitted.



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  Templates - Manage Alec Options


 Create and edit
templates in the
same way that you
manage folders and
views.
 Templates are
shared by all users
at your institution.




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eCourier

 Process all FFELP and Alternative Loans with
  any processing partner
 File Management System (FMS)
    Provides transmission functions for schools
     with Financial Aid Management Systems
     (FAMS)
    Send and receive loan files to and from the
     appropriate processing partner
 School Based Software (SBS)
    Web-based product used to process loans
     with any processing partner
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PageCenter Reports

 Guaranty Reports
   ECASLA Reports
   Pre-cert Apps Not Returned
 Disbursement Reports
   Disbursement Roster
   Disbursement Summary
   Cancels to Enrollment Status
   Disbursements in a hold Status
   Suspended Account Notification

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Questions?

If you‟d like more information or if you
have any questions, please contact
Automated Loan Services at:
   800.443.0646, Option 4, Option 1
   OneLINKServices@aesSuccess.org


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