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Nadine Hamrick, Associate DirectoR Student Financial ASSISTANCE BANNER BREADCRUMBS Nadine Hamrick, Associate DirectoR Student Financial ASSISTANCE Marshall University April 1, 2015 WVASFAA

AGENDA Direct Loan Redesign Decisions to Be Made Forms Set Up Change in Processes WVASFAA

Federal Direct Loan Redesign Enhancements Period Based Awarding of Direct Loans Period Year in College Scheduled Academic Year (SAY) Loans Borrower-Based Academic Year (BBAY) Loans Borrower-Based Academic Year Packaging Direct Loan Origination Update Direct Loan MPN Requirements WVASFAA

Federal Direct Loan Redesign Decisions - RPRLOPT Single Loan Origination Automatically Update Award Origination Required for Memo Valid MPN Required for Memo Authorize Loan Accepted Origination Required for Disbursement Linked MPN Required for Disbursement Reschedule Disbursement Date WVASFAA

RPRLOPT WVASFAA

Promissory Note Options This will allow you to know where the Promissory Note is in processing From awarding to origination to COD Match or Manual Match Create Options on ROAUSIO – DL MPN Requirements Awarding Codes AP = Possible Match (A valid MPN exists for this type in MPN Table which COD may link when the Origination is submitted AN = NSLDS Active MPN – Valid MPN does not exist but NSLDS data from current record and aid year indicates an active MPN exists at COD AE = Established – Does not exist in MPN table nor does NSLDS WVASFAA

Promissory Note Options 2 Origination OP = Possible Match – Valid MPN exists in MPN table which COD may link when Origination is submitted. ON = NSLDS Active MPN OE = Established = A valid MPN does not exist in the MPN table OI = Origination Inactive – When an Origination record is changed to an inactive status the MPN requirement will updated OM = Matched Manually M = Matched by COD WVASFAA

ROAUSIO Stafford MPN Rules WVASFAA

RAAREQ DIRECT MPN TAB WVASFAA

RTVAPRD – RTVSAYR – RORSAYR ROBAPRD – RORTPRD SET UP RTVAPRD – Define unique aid periods RTVSAYR – Define normal academic year SAY code and create a different SAY Code for any academic year that does not have the same beginning and end dates RORSAYR – Set up beginning and end dates of scheduled academic year and assign periods and disbursement dates ROBAPRD – Assign Aid Period with SAY Code to ROBAPRD RORTPRD – Assign Periods (terms) to Aid Period WVASFAA

RTVSAYR Define Academic Year SAY Codes Fall/Spring/SU04 MU Examples: Fall/Spring Fall/Spring/SU04 Fall/Spring/SUM Med 1, Med 2, Med 3, Med 4 (Medical) PT 1, PT 2, PT 3, PT 4 (Physical Therapy) WVASFAA

RTVSAYR WVASFAA

RORSAYR WVASFAA

ROBAPRD WVASFAA

RORTPRD WVASFAA

Borrower Based Loans - BBAY Physical Therapy Program - Summer, Fall, Spring, Summer Summer – 1415 Fall – 1516 Spring 1516 Summer – 1516 Summer & Fall – 1st Academic Year Spring & Summer – 2nd Academic Year WVASFAA

Borrower Based Loans - BBAY Graduate Program – Annual Maximum Federal Direct Loan - $20,500 Graduate PLUS Loan will award up to the remaining need across years Thus these students will receive 2 annual maximums across their borrower based academic year – Borrower Based Year/Academic Year 05/12/14 – 12/12/14 Summer 2014 – $10,250 Fall 2014 - $10,250 Borrower Based Year/Academic Year 01/12/15 – 08/07/15 Spring 2015 - $10,250 Summer 2015 - $10,250 WVASFAA

ROIBBAY WVASFAA

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Borrower Based Loans - BBAY DL Funds must be set up on RFRMGMT to be used by BBAY Processing A BBAY must be assigned to the student on RPABBAY Packaging will look cross years beginning with first term in each BBAY assigned to determine eligibility for the current term. RLADLOC will originate loans based upon the dates used on RORBBAY for loan period and the academic year. WVASFAA

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RLADLOR ADJUSTMENTS WVASFAA

LOAN ADJUSTMENTS RPAAWRD Loan Adjustments Increasing or reducing a loan to a period or to the total will create a discrepancy between RPAAWRD and RLADLOR but if you run origination this will go away immediately or it can occur in your batch run. If your option is set to one origination it will add that amount to the proper period or periods, it will change the loan amount (approved amount) and update year in college if there is a change and create the proper change records for COD. WVASFAA

LOAN ADJUSTMENTS RPLADLOR Loan Adjustments If you have the need to increase or decrease a loan you no longer have to insert a record but you will go to the gross amount and simply increase or decrease and based on your options when committed the change will automatically update RPAAWRD or give you a pop up and ask do you want the change to be made on RPAAWRD. Again the process will update all of the appropriate fields for submission to COD. If you opt to not allow the update you will have a record with an loan discrepancy which will be flagged both on RLADLOR and the Direct Loan Interface Tab on RPAAWRD. We will need to “remember” to later change RPAAWRD or create an exception report using the “award discrepancy field”. WVASFAA

FORM CONVERSIONS RPALORG RLADLOR – Direct Loan Origination Form RLADBOR – Direct Loan PLUS Borrower Form REACODS – CODS Student Information Form RLADMPN – Applicant Direct Loan MPN Form RLAPAPP – Direct Loan PLUS Application Form REASTID REACODS – COD Student Information Form RLADBOR – Direct Loan PLUS Borrower Form RFRMGMT & ROAMGMT RLRDFEE – Direct Loan Origination Fee Rules Form RPRLPRD RORBBAY – Borrower Based Academic Year Data Form RORSAYR – Scheduled Academic Year Rules Form WVASFAA

Continued Conversion Forms RPADLCR – RLADLOR – Direct Loan Origination Form Corrections ROAALOG – RLADLOR – Direct Loan Origination Form Logging RORDATA – RLADLLC – Direct Loan Logging Control Form RFRPROM – RLADMPN – Applicant Direct Loan MPN Form RPRLORC – RLPDLOC – Direct Loan Origination Creation Process WVASFAA

Outcomes of Redesign Creation of RTVSAYR, RTVBBAY and RORRSAY eliminates the need to create loan periods annually. We will only need to change dates for the upcoming year as the SAY and BBAY codes will stay the same. Eliminates the need to create budget types by aid year and having to copy and change to a new aid period. No longer the need to create aid year specific aid periods. Example: MS1-16 now becomes MS1 and once budgets roll we will only need to update the dollar amounts. Synchronizing RPAAWRD and RLADLOR PROM Notes may be loaded to RPRPROM All new tables thus all reports must be rewritten once we determine what we need WVASFAA

QUESTIONS WVASFAA