FFELP to Direct Lending... What Does Colleague Do? Session 4911

LOYOLA COLLEGE IN MARYLAND  Private, Jesuit (1 of 28) established in 1852  Datatel client since 1982  Enrollment (Fall of 2008)  3716 undergraduate students  2364 graduate students

LOYOLA OFFICE OF FINANCIAL AID Assistant VP of Enrollment Management/Director of Financial Aid Associate Director of Financial Aid Undergraduate Counselors (2) Graduate CounselorLoan AdministratorSupport Staff (2)

LOYOLA DIRECT LOAN HISTORY Entered in the 2 nd year of the program (1995) Currently all of our loans (sub, unsub, PLUS, Grad PLUS) are all processed as Direct Loans Current loan volume ( ) is over $35 million Use TDClient to communicate loan data with COD (Do not use EDExpress)

MONROE COLLEGE NYS  Proprietary College offering AAS, BBA and MBA - established in 1933  Campuses:  Bronx  New Rochelle  St. Lucia  On Line  Datatel client since 1995  Enrollment (Fall of 2008) – 7,100

MONROE FINANCIAL AID OFFICE

MONROE DIRECT LOAN HISTORY Prepared this past summer to Originate and Disburse for the Fall ‘08 semester. Currently running a hybrid program (FFELP and DL). We will likely grandfather out FFELP with no intention of ever switching a FFELP borrower with a valid MPN into DL. Expected DL volume ( ) for our year one is $6,000,000 Like Loyola - Use TDClient to communicate loan data with COD (Do not use EDExpress)

GETTING STARTED Check your Eligibility and Certification Approval Report (ECAR) – if DL is not listed, submit a revised E-APP at Submit an to COD School Relations Center with subject line “Request to Participate in the Direct Loan SAIG Enrollment/TG mailbox that includes DL services or SAIG Enrollment website

GETTING STARTED (cont.) COD Website – confirm that your institution has a designated School Security Administrator and authorized COD user ID and password G5 – submit a new direct deposit form (SF1199A) if your institution will use a different bank account than the one used for other Title IV funds Electronic Master Promissory Note website – obtain a user ID and Password for access

Getting Started (cont.) Establish a relationship with your primary customer service representative (CSR) at the COD School Relations Center at or Enroll with the National Student Loan Data System (NSLDS) – complete section #14 on the paper SAIG enrollment form or online Sign up to receive DL listserv messages (read- only) request to

COLLEAGUE SETUP Initial Setup Refer to the Colleague manual “Using the COD Interface” CODP (COD Parameter Definition) CSID (COD Institutional Defaults)/CSOF for multi-campus institutions – Routing ID Number – Direct Loan school code

COLLEAGUE SETUP (cont.) Annual Forms AWD (Award Definition) LAWD (Loan Award Definition) ADCM (Award Disbursement Code Maintenance) ATPC (Attendance Pattern Definition)

AWARDING DIRECT LOANS Manually on AIDE Auto-package Detail to DLAN from AIDE

AWARDING DIRECT LOANS Monroe has three full 15 week semesters – We also enter awards on Colleague before ISIR data has been imported. To accommodate all the things that can go wrong we have established many different auto delivered reports (INFORMER) and segregate our Origination and Disbursement activities.

COMPUTED COLUMNS Datatel Delivered TA.MPN.ID (The car drives but does the radio work?) Monroe IT Written X.TA.DLIA.MPN.STATUS.R18 (The car drives and the radio, as well as everything else works) We needed several such data elements readable in TA.ACYR coming from DLI.AWARD in order to develop our reports.

REPORTS

REPORTS USED FOR ORIG/TRANS/DISB/

DETAILED LOOK AT DLAN

INCREASING DIRECT LOANS You can use a new award code for each increased disbursement (DFSS, DFSS2, DFSS3) or your can add disbursements to an existing loan (equal disbursements required). If you go with using additional disbursements you will likely still need additional loan codes to accommodate changes in eligibility or new and separate loan periods within the same ACYR.

INCREASING DIRECT LOANS Increasing a $3,500 loan to $4,500, with the 1st scheduled disbursement made.

INCREASING DIRECT LOANS Make increases on AIDE

INCREASING DIRECT LOANS Detail on, in this case, line 3 (DFSS) and choose DLAN on the menu

INCREASING DIRECT LOANS Insert new disbursement for Fall and change grade level (from 1 to 2)

INCREASING DIRECT LOANS

New Data – for second fall disbursement added

INCREASING DIRECT LOANS First disbursement for the fall semester is returned back to the original value.

RUNNING CODE

USING THE COD WEBSITE Our philosophy is ONE SOFTWARE OR BUST but there are exceptions. Especially for our disbursements we can AND DO look at the COD website to find any issues/rejects that have caused reconciliation concerns. – This information is available minutes after pushing out the data!!!!

USING THE COD WEBSITE

USING COD BATCH

ONLY ENTER SCHOOL AND DATE RANGE

LIST OF ALL COD DOCUMENTS – FILTER NOT USED

DETAILING ON CHOSEN DOC – FILTER NOT USED

FILTER USED TO FIND REJECTED RECORDS

DETAIL ON REJECT TO BEGIN DISCOVERY

THINGS TO CONSIDER Timing of transition (give yourself about 1 week to complete DOE set up, but about 3-4 months for entire process) Have conversations with your president, trustees, technology staff All direct or hybrid Review your current job descriptions

THINGS TO CONSIDER (cont.) Drawdown Communication process with your students and families using s, website, press releases Training (COD tutorials, DL List serve, DL Bulletins, NSLC

SUPPORT RESOURCES pating pating

QUESTIONS????? DO NOT HESITATE TO CONTACT Margaret Vale Associate Director of Financial Aid Loyola College in Maryland Howard Leslie Dean of Student Financial Services Monroe College – NYS