1. DIRECT LOAN RECONCILIATION We wish it was always this easy!

2. PRESENTERS Michelle Taylor Datatel mxt@datatel.com Donna Hemling Loyola University Maryland dhemling@loyola.edu

3. Loyola University Maryland Private, Jesuit (1 of 28), established in 1852 Enrollment – approximately 6,000 Full-time undergraduates: 3700 Graduate students full and part-time: 2300 Processed 6,000 Direct Loans for $48,000,000+ in 2010-2011 Direct Loans since 1995 Summer Header Academic Year

4. CONTENTS OF THIS PRESENTATION Direct Loan Reconciliation obligations to the Department of ED Tools to Reconcile How to prepare for Reconciliation How to Import the SAS Report using DOEI Reconciliation using the DSRR form (replaces the DLTX/DL Tools process) Program Year Closeout

5. WHY RECONCILE? Schools that participate in the Direct Loan Program are required to reconcile funds received (from the G5 system) to pay its students with the actual disbursement records that it has forwarded to the Common Origination and Disbursement (COD) system. A school is expected to reconcile monthly and complete final reconciliation and Program Year Closeout as soon as possible after the end of the award year on June 30, but no later than the final Program Year Closeout Date (13 months after the end of the award year). So, for the 2011-2012 program year, you have until July, 2013 to complete the closeout.

6. TOOLS for an EASY RECONCILIATION School Account Statement (SAS) Report of all disbursement records on COD Generated by COD the 1 st weekend of month Sent to SAIG mailbox with a message class of DSDF Imported into Colleague to the FA.DL.SAS file Contains data through the end of the previous month Separate SAS for each open award year Only disbursement detail, not cash balance DSRR Form in Colleague Generates reports comparing imported SAS data to Colleague data on AIDE-AR-COD Responses

7. GET READY Set up SAS Report Options on COD Export loan data (CODE) –Watch the Batch Error Report for problem loans Import (DOEI) Problem Solve –Run CDMR COD Missing Response Report –Run DLVR Direct Loan Variance Report –Run CODC COD Comparison Report –Run DCRR DL COD Reject Report –Export/Import

8. SET SAS OPTIONS Set your SAS options correctly on COD : GO TO:  School  Report Selection  Modify SAS Options MUST BE SET TO:  FIXED LENGTH  YEAR TO DATE  DISBURSEMENT DETAIL

9. SAS OPTIONS SCREEN

10. IMPORTANT MAINTENANCE REPORTS lll There are several COD reports in Colleague available to assist you in your loan management. The CODC, DCRR, DLVR and CDMR should be run regularly. Other reports on this menu may be helpful to you. Check them out. The DSRR is also found on this menu.

11. CDMR COD MISSING RESPONSE RPT Use this report to be sure you have received all of your responses from COD.

12. DCRR - DL COD REJECT REPORT Use the DCRR to pinpoint records rejected by COD and and correct them. You can use Selection Criteria to limit the results of the report.

13. DCRR Selection Criteria To limit year by loan ID Computed column to delete $0 disbursements

14. CODC - COD COMPARISON REPORT The CODC report will show you the current award amount on AIDE, what you have sent to COD, and what you have received back from COD.

15. CODC - COD COMPARISON REPORT

16. DLVR - DIRECT LOAN VARIANCE REPORT The DLVR shows you the net disbursement amounts on DLAN that have a variance with the COD net amount. It is a quick way to see records that are out of sync with COD. They are usually new or changed records that need to be exported through CODE. Can be a change that has not been transmitted.

17. DLVR REPORT SAMPLE Not sent to COD Change not Sent to COD Missing Response Could be a Reject

18. CODC – DLVR DATA INFORMATION

19. Watch for… Loans that Error at the CODE process and do not go to COD Payments to Servicer can cause conflicting information

20. CODE BATCH ERROR REPORT Loans that Error at the CODE process and do not go to COD Payments to Servicer can cause conflicting information It is very easy to overlook a rejected loan.

21. Importing SAS Data using DOEI Direct Loan SAS data is imported from SAIG mailbox using DOEI NOTE: You will not receive the cash summary (go to the COD website) Setup DOEI Setup FAUP form with SAS import flag

22. SET UP DOEI Yes - for automatic update of the SAS file. No - to import the file, but process the update file later.

23. FAUP

24. Updates Colleague Database Removes existing data and updates new data in the FA.DL.SAS file which contains all the reconciliation data for the entire processing year. Note: If you select ‘Both’ Monthly and Year to Date for your SAS Report setup, and you import the Monthly after the YTD, you will overwrite the YTD info.

25. DSRR - DL SAS RECONCILIATION RPT The DSRR report will show the amount of a disbursement on: - AIDE - student account - COD response - SAS report

26. DSRR Report Options Report Display Option –A All Shows all loans in the system –C COD (COD vs SAS) Shows only mismatches between the COD response and the SAS report. –T Transmit (Xmit vs SAS) Shows only mismatches between the AR and the SAS report.

27. DSRR REPORT OPTIONS LLoan Type –S Subsidized only –U Unsubsidized only –P PLUS only –Leave blank for ALL School Code –Leave blank or enter DL school code. BBooked/Unbooked –B Booked only –U Unbooked only –A All SSN Display Option –S Show SSN –L Last 4 Digits –N No SSN

28. DSRR REPORT SELECTING ‘ALL’ This report will show you all disbursements in your database.

29. DSRR REPORT – ‘T’ XMIT TO SAS This report will show you only the mismatches in your database.

30. SCHOOL SUMMARY INFORMATION Watch your cash balance. A negative number here means that we have sent more disbursements to COD than money drawn from G5.

31. CASH ACTIVITY You should watch your cash draws and your disbursements being accepted on COD.

32. SCHOOL SUMMARY FINANCIAL INFO Another screen that shows a good picture of the status of your disbursements and your cash.

33. SCHOOL BALANCE CONFIRMATION When you are reconciled to a ZERO cash balance – Complete the School Cash Balance Confirmation on COD This completes your PROGRAM YEAR CLOSE SAS for that year will be discontinued You will no longer send or receive records for that year You will receive a Close Out Letter from ED YOU ARE DONE!

34. QUESTIONS?