How to Get Started _ Get - PowerPoint Presentation

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How to Get Started _ Get - PowerPoint Presentation Powered By Docstoc
					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


                                            2
Get Started:
 • Application and Approval
 • Set-up




                              3
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




                                                      4
Get Started: Application and Approval
 • E-mail participation request to:
    – CODSupport@acs-inc.com
    – Include:
      •School name, address,   •Requestor’s name,
      and phone #              e-mail, and phone #
      •Award Year              •COD ID (8 digit #)
      •DUNS #                  •OPE ID (8 digit #)



                                                     5
Get Started: Application and Approval
 • List of requested information can be found at:
    – http://www.ed.gov/offices/OSFAP/DirectLoa
      n/index.html
       • Professionals
          – Becoming a Direct Loan Program Participant




                                                         6
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




                                                      7
Get Started: Application and Approval
 • Approval letter
    – Effective date
    – Funding method
    – Direct Loan Checklist
 • Denial letter
    – Reason for denial
    – Actions required for reconsideration


                                             8
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




                                                  9
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




                                             10
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




                                             11
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




                                                      12
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


                                                  13
Get Going:
   – School Processing Options and Setup
   – Operational Decisions
   – Tools Available




                                           14
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




                                                15
Get Going: Processing Options and Setup
          ISIR                Central Processing System      FAFSA
                                        (CPS)
                                                              SAR




                                                                        Electronic    Repayment/
                                                                      Entrance & Exit
                                                                        Counseling     Servicing
          Originations,
         Disbursements
         & Paper MPNs                                       Loans and
           Responses
                                     COD                  Disbursements           DLSS
                                                                            Loans and
                                                                          Disbursements
                          Funding Data and
                          Payment Requests                                 Enrollment
                                                                             Status

            Funding Request

                 Money
                                     GAPS                                       NSLDS


                                                                                              16
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?




                                                   17
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?




                                                   18
Get Going: Processing Options and Setup
 • Master Promissory Note:
    – eMPN
      • Stafford (Sub/Unsub)
      • PLUS
      • School options
      • Obtaining access
      • Web site: www.dlenote.ed.gov



                                          19
Get Going: Processing Options and Setup
 • Reports
    – What format?
    – Receive or not?
    – Select via COD Web site




                                          20
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?



                                                21
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?




                                                           22
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



                                          23
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


                                     24
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 Education
                 Attn: COD Web Access
                 COD School Relations Center
                 P.O. Box 9003
                 Niagara Falls, NY 14302



                                                25
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




                                                        26
Get Going: Tools and Resources

 • DL Tools
   – Cash Management Tools
   – Reconciliation
   – Rebuild




                                 27
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



                                                       28
Direct Loan Servicing




                        29
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




                                              30
Direct Loan Consolidation




                            31
Get Going: Tools and Resources
 • School Portal: fsa4schools.ed.gov
    – Resources and training
    – Publication ordering
    – Access to student data
    – Participation and Funding
    – Much more



                                       32
School Portal




                33
Get Going: Tools and Resources
 • Borrower Publications
   – Direct Loan Basics
   – Entrance and Exit Counseling
   – To order visit:
      • www.fsapubs.org




                                    34
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


                                         35
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)




                                                           36
Direct Loan Web site




                       37
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


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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


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