Unlocking the Potential of Direct Loan Reports

1
Session 41

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

2
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

3
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

4
The Lineup

• Direct Loan Reports The What, Where, When, Why,
  and How

5
30 Day Warning

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

6
Inactive Loans

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

7
Funded Disbursement Listing

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

8
Pending Disbursement Listing

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

9
School Account Statement

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

10
Duplicate Student Borrower

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

11
SSN/Name/DOB Change

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

12
MPN Discharge Report

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

13
Expired MPN Report

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

14
MPN Due to Expire Report

• 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

15
Direct Loan Rebuild

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

16
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

17
School Monitoring Email Report
18
School Monitoring Email Report
19
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

20
Detailed Exit Counseling by Date
21
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

22
Just The Facts

• Setting DL Report Options and Accessing Reports

23
Setting Report Options in COD
https//cod.ed.gov
24
Setting School Account Statement (SAS) Options
25
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

26
Accessing DL Reports Online
27
Direct Loan Newsbox
28
Viewing/Selection Options
29
Viewing/Selection Options
30
Accessing DL Servicing Reports Online

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

31
Accessing DL Servicing Reports
32
Accessing DL Servicing Reports
33
DL Servicing Report Choices

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

34
Searching for Clues

• On the Case with Direct Loan Reports

35
The Case of Mistaken Identity

• How can I determine if a student identifier has
  been changed on COD?

36
Mistaken Identity

• Change sent by my school
• Common Record Acknowledgment
• Change sent by my school or another school
• SSN/Name/DOB Change Report

37
Mistaken Identity
38
Mistaken Identity

• How do I use this information?
• Monitor identifier changes made by my school
• Update my school records to prevent future rejects

39
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?

40
Unbooked Loan/MPN Issues

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

41
Unbooked Loan/MPN Issues
Pieces Needed by COD to Book a Loan
42
Unbooked Loan/MPN Issues
Unlinked MPNs
43
Unbooked Loan/MPN Issues SAS
Unbooked Amounts Missing MPNs
44
Unbooked Loan/MPN Issues Expired MPN Report
Expired MPNs Not Available for Linking
45
Unbooked Loan/MPN Issues MPNs Due to Expire
Report
MPNs Available for Linking
46
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

47
The Case of the Cash Balance

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

48
Ending Cash Balance (ECB)

• Where should I look?
• School Account Statement (SAS)
• Pending Disbursement Listing
• School Records

49
ECB SAS Cash Summary
Do the totals match school records?
Can you explain the ECB?
50
ECB SAS Cash Detail
Match School Records?
Timing Differences?
51
ECB SAS Disb Detail
Match School Records?
Missing Data?
Timing?
Any Unbooked?
52
ECB SAS (Alternate Formats)
Fixed Length Unformatted
53
ECB SAS (Alternate Formats)
Fixed Length Formatted in Excel
54
ECB SAS (Alternate Formats)
Booked
Fixed Length Formatted in Excel
Unbooked
55
ECB Pending Disb Listing
Pending Disbs that Should be Actual?
Disbs that Should be Reduced to Zero?
56
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

57
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

58
Mystery Solved -

• Locking up the Case

59
We covered

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

60
For More Information

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

61
Other Sessions

• 40 A Direct Loan Primer
• 42 Whats New in Direct Loans for 2008-2009
• 24 COD Web Hands On
• 4 Title IV Funding to Schools From COD
  Through GAPS

62
Contact Information

• We appreciate your feedback and comments. We can
  be reached at
• Julie.Aloisio_at_ed.gov
• Barbara.Davis_at_ed.gov
• Allison.Richards_at_ed.gov

63
Questions