Student Financial Assistance

Session 57

Direct Loans: Electronic

Promissory Notes in Direct
Loans

Session 57- 2
 Timeline

n January to April: Gathered requirements

n May: Conducted focus group with students
in South Dakota
n June: Tested electronic MPN with SFA
Interns
n July 2: Students begin signing Master
Promissory Notes electronically

Session 57- 3
 Electronic MPN Statistics
n Winner of the 2001 Government Technology Leadership
Award from Government Executive Magazine
n Number of schools participating:
– 198
n Number of electronic MPNs processed (as of
October 24):
– July: 5,893
– August: 15,101
– September: 8,815
– October: 4,476
n Number of requested copies mailed:
– 9,068
Session 57- 4
 10,000
15,000
20,000
25,000
30,000
35,000
40,000

0
5,000
06/30/01

07/07/01

07/14/01

07/21/01

07/28/01

08/04/01

08/11/01

08/18/01

08/25/01

09/01/01

09/08/01

09/15/01

09/22/01

09/29/01
E-MPN's
Paper MPN's
Paper vs E-MPNs

Session 57- 5
 Issues
n Setting up Adobe Acrobat to read MPN in Step 8:
– Open the Acrobat Reader application from your desktop
– Choose File from the top menu bar
– Choose Preferences from the drop down menu
– Select General. The General Preferences window will
appear
– Uncheck the box labeled Web Browser Integration
– Select OK
– Exit the application
n Instructions can also be found at:
– http://dlenote.ed.gov/whatyouneed.shtml

Session 57- 6
Completing an Electronic MPN
A Student’s View
http://dlenote.ed.gov

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WA

01/10/1972

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Session 57-13
Sally

Waddell

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Sally S Waddell

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 Transaction History
Information collected for Transaction History

Session 57-24
2BD

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 PLUS

n There is no Master Promissory Note for

PLUS in 2002-03
n The previous note will be used for 2002-03
n PLUS processing will continue as is

Session 57-28
Retrieving an Electronic MPN

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01/10/1972

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 Student Options

n Can request a copy be mailed before

completing Step 10
– Mailed to address on p-note
n After Step 10, can request copy from the
Retrieve MPN
– Mailed to address provided by student

Session 57-34
School Options

Session 57-35
 How Schools Sign Up
n School determines if this process is used at all
– SFAO completes the school options screen on LO
Online web site
– Can add additional e-mail text to standard message to
go to students who provide e-mail addresses
– Messages are limited to 256 characters
n If E-Signature is used:
– Allow all borrowers to complete an E-Note
– Allow only borrowers with a valid LO record to
complete an E-Note

Session 57-36
How to sign up

Session 57-37
Message box must be completed by a CSR at the Loan
Origination Center. Text is limited to 256 characters.

Session 57-38
 Limitations

n Levels 3, 4, and 5 will be required to have

a LOR on file
– Student will also receive paper note
– Cover letter explains option of completing
note electronically

Session 57-39
 Questions?

n If you have questions, please send them to:

loan_origination@mail.eds.com
n Use a subject line of “Electronic MPN”
n Please include your name, organization,
and a phone number

Session 57-40
 Loan Origination Contacts

n E-Mail Address:
loan_origination@mail.eds.com
n School Relations at the LOC:
1-800-848-0978
n School Relations Fax:
1-800-557-7396
n School Relations at the Servicing Center:
1-888-877-7658

Session 57-41
Session 57-42