Session #41

Unlocking the Potential of Direct Loan Reports Julie Aloisio Barbara Davis Allison Richards

We Will Cover:
• The Lineup – Available Direct Loan Reports • Just the Facts – Setting Report Options and Accessing Reports • Searching for Clues – On the Case with Direct Loan Reports • Mystery Solved – Locking Up the Case
2

We Will Learn:
• What Direct Loan reports are available • Where to get them • When and how frequently reports are received • Why this information is useful to school processing • How the reports can assist in issue identification and the recon/closeout process
3

The Lineup
Direct Loan Reports – The What, Where, When, Why, and How
4

30 Day Warning
1

• What – Unbooked Loans/MPNs • When Monthly • Where – SAIG or COD Web • Why – Identify and Resolve Unbooked Loans on COD
5

Inactive Loans
2

• What – Inactive Loans • When Monthly • Where – SAIG or COD Web • Why – Identify Inactive Loans that should be active or vice versa
6

Funded Disbursement Listing
3

• What –Funded disbursements for that day • When – Daily, as needed • Where – SAIG or COD Web • Why – Identify disbursements used in funding calculation

7

Pending Disbursement Listing
4

• What –Pending disbursements for that period • When – Weekly • Where – SAIG or COD Web • Why – Identify disbursements to be used in funding calculations
8

School Account Statement
5

• What –Cash and Loan Summary and Detail • When – Monthly • Where – SAIG only • Why – Reconcile with school data
9

Duplicate Student Borrower
6

• What –List of students at your school with awards at another school • When – Monthly • Where – SAIG and COD web • Why – Identify potential overawards
10

SSN/Name/DOB Change
7

• What –List of individuals at your school with identifier changes • When – Weekly • Where – SAIG and COD web • Why – Monitor changes & prevent rejects
11

MPN Discharge Report
8

• What –List of MPNs inactive due to discharge • When – Weekly • Where – SAIG and COD web • Why – Identify MPNs no longer available for linking

12

Expired MPN Report
9

• What –List of MPNs that have expired • When – Weekly • Where – SAIG and COD web • Why – Identify MPNs no longer available for linking
13

MPN Due to Expire Report
10

• What –List of MPNs about to expire • When – Monthly • Where – SAIG and COD web • Why – Identify MPNs that will be expiring in next 60 days
14

Direct Loan Rebuild
• What –Detailed origination and disbursement data on COD • When – As Needed • Where – SAIG • Why – Rebuild lost DL data

15

School Monitoring Email Report
• What – Information on: – Unbooked Loans (DL only) – Unsubstantiated Funds (DL and Pell) – POP (Pell only) • When – Weekly, as needed • Where – Email from COD Customer Service • Why – Alerts schools to potential processing issues
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School Monitoring Email Report
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17

School Monitoring Email Report
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18

Direct Loan Servicing Reports
• What – Reports covering: –Entrance Counseling –Exit Counseling –Delinquency –Portfolio • When – as needed • Where – DL Servicing Website • Why – To monitor borrower activity at DL Servicing
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Detailed Exit Counseling by Date
12

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The Lineup: More Information
• COD Technical Reference Volume 6 Section 8 • COD Customer Service • COD Website • Direct Loan Servicing School Services • Direct Loan Servicing website
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Just The Facts
Setting DL Report Options and Accessing Reports

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Setting Report Options in COD
https://cod.ed.gov

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Setting School Account Statement (SAS) Options

24

Accessing Direct Loan Reports Online • Accessed through COD Website –Opens in new window –Pop up blockers must be turned off • Users can continue working in the COD web and in reports –Users must log out of both sites separately
25

Accessing DL Reports Online

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Direct Loan Newsbox

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Viewing/Selection Options

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Viewing/Selection Options

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Accessing DL Servicing Reports Online
• FAA login through the COD website • Users can continue working in COD and the Servicing websites as needed

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Accessing DL Servicing Reports

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Accessing DL Servicing Reports

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DL Servicing Report Choices

•Choose by main campus or branch •Select date range/or predefined date range 33

Searching for Clues –
On the Case with Direct Loan Reports

34

E CAS E FIL

The Case of Mistaken Identity • How can I determine if a student identifier has been changed on COD?

?

35

Mistaken Identity
• Change sent by my school: –Common Record Acknowledgment • Change sent by my school or another school: –SSN/Name/DOB Change Report
36

Mistaken Identity
7

37

Mistaken Identity
• How do I use this information? –Monitor identifier changes made by my school –Update my school records to prevent future rejects
Cl ase C
EF CAS ILE

ed os
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The Case of the Unbooked Loan • How can I determine what piece is missing to book a loan? • How can I determine why an MPN is not linked to available loans?

E CAS ILE F

?

39

Unbooked Loan/MPN Issues
• Where should I look? –30 Day Warning –School Account Statement –MPN Reports (Discharge, Expired, Due to Expire)

40

Unbooked Loan/MPN Issues
1 Pieces Needed by COD to Book a Loan

41

Unbooked Loan/MPN Issues
1

Unlinked MPNs

42

Unbooked Loan/MPN Issues: SAS
5f Unbooked Amounts Missing MPNs

43

Unbooked Loan/MPN Issues: Expired MPN Report
9

Expired MPNs Not Available for Linking 44

Unbooked Loan/MPN Issues: MPNs Due to Expire Report
10

MPNs Available for Linking

45

Unbooked Loan/MPN Issues
• How do I use this information? –Look for:
•Pieces missing to book the loan •MPNs without origination records •Unbooked Loan Amounts •MPNs still available for linking

–Send in additional data or MPN to book the loan ed los eC as C 46
EF CAS ILE

The Case of the Cash Balance • Why does my school have an Ending Cash Balance (ECB) at the end of each month?

E CAS ILE F

?

47

Ending Cash Balance (ECB)
• Where should I look? –School Account Statement (SAS) –Pending Disbursement Listing –School Records

48

ECB: SAS Cash Summary
5 Do the totals match school records?

Can you explain the ECB?

49

ECB: SAS Cash Detail
5d Match School Records?

Timing Differences?

50

ECB: SAS Disb Detail
5e Match School Records?

Missing Data?

Timing? Any Unbooked ? 51

ECB: SAS (Alternate Formats)
5g

Fixed Length Unformatted

52

ECB: SAS (Alternate Formats)
5h

5i Fixed Length Formatted in Excel 5j

53

ECB: SAS (Alternate Formats)
5k Booked Fixed Length Formatted in Excel

Unbooked

54

ECB: Pending Disb Listing
4 Pending Disbs that Should be Actual?

Disbs that Should be Reduced to Zero? 55

ECB: School Records
• Compare Business Office to Financial Aid Office • Look for: –Disbursements or Adjustments on one system but not the other –Funds in one year but used for disbursements in another –Other issues
56

ECB
• How do I use this information? –Look for:
•Reconciling differences •Outstanding rejects or unbooked •Reasons for Ending Cash Balance

–Resolve all issues prior to the next run of the SAS sed Clo se Ca
EF CAS ILE

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Mystery Solved Locking up the Case

58

We covered:
• The What, Where,When,Why, and (most importantly) the How of Direct Loan Reports

59

For More Information:
• COD Technical Reference Volume 6 Section 8 • COD Website Reports Link (Services Menu) • Direct Loan Servicing Website

60

Other Sessions:
• #40 – A Direct Loan Primer • #42 – What’s New in Direct Loans for 2008-2009 • #24 – COD Web Hands On • #4 – Title IV Funding to Schools: From COD Through GAPS
61

Contact Information
We appreciate your feedback and comments. We can be reached at:
• Julie.Aloisio@ed.gov • Barbara.Davis@ed.gov • Allison.Richards@ed.gov

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Questions

?
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