Student Financial Assistance

Session 57

Direct Loans: Electronic Promissory Notes in Direct Loans

Session 57- 2

Timeline
s s

s

s

January to April: Gathered requirements May: Conducted focus group with students in South Dakota June: Tested electronic MPN with SFA Interns July 2: Students begin signing Master Promissory Notes electronically
Session 57- 3

Electronic MPN Statistics
s

Winner of the 2001 Government Technology Leadership Award from Government Executive Magazine

s s

Number of schools participating:
– 198

Number of electronic MPNs processed (as of
October 24):

– – – –
s

July: August: September: October:

5,893 15,101 8,815 4,476

Number of requested copies mailed:
– 9,068
Session 57- 4

10,000

15,000

20,000

25,000

30,000

35,000

40,000

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

0
E-MPN's Paper MPN's

Paper vs E-MPNs

Session 57- 5

Issues
s

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

s

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

Session 57- 7

Session 57- 8

Session 57- 9

Session 57-10

Session 57-11

123456789 WA 01/10/1972

****

Session 57-12

Session 57-13

Sally S Waddell

Session 57-14

Session 57-15

Session 57-16

Session 57-17

Session 57-18

Session 57-19

Session 57-20

Sally

S

Waddell

Session 57-21

Session 57-22

Session 57-23

Transaction History
Information collected for Transaction History

Session 57-24

2BD

Session 57-25

Session 57-26

Session 57-27

PLUS
s

s s

There is no Master Promissory Note for PLUS in 2002-03 The previous note will be used for 2002-03 PLUS processing will continue as is

Session 57-28

Retrieving an Electronic MPN

Session 57-29

Session 57-30

Session 57-31

123456789 WA 01/10/1972

****

Session 57-32

Session 57-33

Student Options
s

Can request a copy be mailed before completing Step 10
– Mailed to address on p-note

s

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
s

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

s

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
s

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?
s

s s

If you have questions, please send them to: loan_origination@mail.eds.com Use a subject line of “Electronic MPN” Please include your name, organization, and a phone number

Session 57-40

Loan Origination Contacts
s

E-Mail Address:
loan_origination@mail.eds.com

s

School Relations at the LOC:
1-800-848-0978

s

School Relations Fax:
1-800-557-7396

s

School Relations at the Servicing Center:
1-888-877-7658

Session 57-41

Session 57-42

Master your semester with Scribd & The New York Times

Special offer for students: Only $4.99/month.

Master your semester with Scribd & The New York Times

Cancel anytime.