Direct Loan Best Practices Eric E. Lane Subject Matter Expert – FA WEST lanee@nccommunitycolleges.edu Karen Britt Statler Subject Matter Expert– FA EAST statlerk@nccommunitycolleges.edu

Our Objectives Discuss Processing and Workflow Reconciliation Troubleshooting

COD Processing Resources Datatel Resources: http://clients.datatel.com DUG/SEDUG 2010 Presentations Using the COD Interface (June 29, 2007) Local Resources: www.nccommunitycolleges.edu Chapter 27, Financial Aid Learning Guide Federal Government: http://www2.ed.gov/offices/OSFAP/DirectLoan/participating.html www.ifap.ed.gov www.studentloans.gov (resource for students) 9/17/2018

Moving Forward How are you communicating with students? Are you requiring students to complete the DL MPN and Entrance Counseling before you award or after? Required information sessions What Students Need to Know? What about Your Loan Debt? Financial Literacy 9/17/2018

Set Up and Forms AWD LAWD AEC CSID CSOF ADCM ATPC DLAN DOEI CODE FATR FATP AIDE DCRR FCDC DSRR 9/17/2018

Processing Interviews Entrance Counseling XML CRECMYOP DOEI Exit Counseling EXNSFFOP DLEI Both Viewed on LEEI FINR – Interview Report Run for date range Produces output SAVEDLIST 9/17/2018

Processing MPN’s Master Promissory Note Acknowledgements New MPN or Change in Status Change in expiration date Processed daily by COD Master Promissory Notes XML CRPN##OP Year specific acknowledgement files / MPN’s NOT year specific Delivered to college as ‘P’ending until origination links Viewed on SMPN MPNS – MPN Report Run for date range Doesn’t produce output SAVEDLIST but can ID’s can be gathered through SLED 9/17/2018

AWD Create new award on AWD Coordinate with BO to insert the correct GL code Do you need eligibility rules? Do you want the awarded amount to automatically populate? Are you going to auto-package? 9/17/2018

LAWD Access from AWD Origination and rebate fees are stored here There are read oldest to newest Will ensure correct NET loan amounts will post to student accounts accurately 9/17/2018

AEC These rules will prevent the loan from transmitting if certain conditions are not met Be aware that rules can be overridden when manually awarding on AIDE 9/17/2018

COD Defaults If these forms are not updated properly, the records WILL NOT transmit to COD and you WILL get errors. 9/17/2018

ADCM You can create as many scenarios as you would like Need to remember to change the Disb Code Type This information is linked to the attendance pattern (ATPC) 9/17/2018

ADCM – 30 Day Delay You can create as many scenarios as you would like Can enter in default delay and use Attendance Pattern Rules This information is linked to the attendance pattern (ATPC) 9/17/2018

ATPC You can set up as many attendance patterns as you need Remember to include the corresponding disbursement codes 9/17/2018

Potential Workflow Student fills out FAFSA FA office imports ISIR FA awards loan to the student Student completes MPN online Student completes entrance counseling Run CODE to originate Run FATR/FATP Run CODE to report disbursement Draw down funds from G-5 Reconcile loans monthly (file comes from SAIG on the first SATURDAY of each month) 9/17/2018

Processing Loans Loans are awarded on AIDE DL loans are ORIGINATED by running CODE Remember the default dates set on ADCM. If these need to be changed, do so on DLAN. DLAN can be accessed from AIDE. 9/17/2018

Processing Loans: DLAN 9/17/2018

Processing Loans: DLAN Addl Unsub Elig must have a ‘YES’ in it if the student is given an additional unsub loan per a denied PLUS loan. If you are processing PLUS loan, the parent’s ID must be entered under PLUS borrower information 9/17/2018

Processing Loans: CODP You can set action statuses you wish to originate Allows you to customize your workflow. 9/17/2018

Processing Loans: CODE Run CODE wide open If there are errors, a report will be generated. Once errors are resolved, re-run CODE CODE will also produce a report of those records that were successfully sent. 9/17/2018

Processing Loans: DLEI MPN’s, COD response files and loan updates will import from COD automatically Entrance Counseling records are automatically loaded into Colleague. DLEI imports Exit Counseling records DCOD allows you to view DL information on an individual student If a list is needed to great a save list, FINR can help 9/17/2018

Processing Loans Once the loan has been originated the action code on AIDE must be ‘A’ for ‘Accepted’ so the loan will disburse to student AR/Book Store. FATR can be run to see if there are any eligibility rules that are a problem. AEV is a nice alternative to FATR. FATP is run by the BO to post the awards to the students account. CODE sends the record to COD. (Just like Pell) The BO will then draw funds down from G5. Students must be notified of the posting and ability for them to cancel loan. Refunds can be created and checks mailed. 9/17/2018

Processing Loans If it is necessary to reduce a students award, simply modify the amount on AIDE, run the negative FATR/FATP and run CODE. 9/17/2018

Reconciliation Tools SAS COD Website DSRR Student Files Generated 1st wkd of Month Contains all data through end of the previous month Separate SAS for each open award year COD Website Cash Summary DSRR Student Files Individual student data FA Office Reports Business Office Reports COD Customer Service Customer Service representatives Reconciliation Team Weekly Monitoring Emails 9/17/2018

SAS files import as DSDF files MUST be these settings for Colleague DSRR report to work properly. 9/17/2018

Reconciliation & Colleague Reports DCRR – DL COD Reject report : Finds loan level rejected and warning reponses DLVR – DL Variance Report: Reports differences between Colleague information and COD MPNS – DL MPN Status Report: View of MPN Statuses received from COD DSRR – DL SAS Reconciliation Report: Compare YTD amounts from the COD SAS report and Colleague CODC – COD Comparison Report: Locates differences between award amounts recorded for a Direct Loan. CARR – COD Accepted Response Report: List of awards with accepted corrected or duplicated COD responses. CDMR – COD Missing Response Report: Finds records with no response file from COD. TFAR – Transmitted FA Report: Reports FA information posted to AR. DLUD – DL Upcoming disbursements: View a list of scheduled disbursements. DLBS – DL Booking Status: View a list of Direct Loans and their booking status. 9/17/2018

Reconciliation - CDMR 9/17/2018

Reconciliation - CDMR 9/17/2018

Reconciliation - DCRR 9/17/2018

Reconciliation - DCRR 9/17/2018

Reconciliation - DSRR 9/17/2018

Reconciliation - DSRR 9/17/2018

Troubleshooting Warning 55 – Means you transmitted more than 30 days than you told COD you were going to. No action needed, warning Reject 24 – Reported CPS Trans # does not match CPS DLAI and enter in override CPS trans number rerun CODE Reject 39 – Incorrect award amount Adjust award amounts on AIDE Override grade level on DLAN Reject 117 – Disb info is incomplete or rejected Generally means disb amts do not equal awd amt Need to fix in steps Often times caused by default rate, must create 2nd disb. (R60) Reject 140 – Incorrect origination fee or rebate percent Cancel award, fix fee/rebate on LAWD, reaward, run CODE Full list at : http://clients.datatel.com under documentation. 9/17/2018

Questions 9/17/2018