1. DIRECT LOAN TROUBLESHOOTING GUIDED DISCUSSION SPRING TRAINING MAKING A DIFFERENCE 2014-2015 Aaron Peterson, Anoka-Ramsey Community College Angela Lofgren, Metropolitan State University Jody Stadler, University of Minnesota -Twin Cities

2. DISCUSSION TOPICS NSLDS Over-awards Resolving Default COD PLUS Processing MAKING A DIFFERENCE 2014-2015

3. NSLDS OVER-AWARDS Over-award Flags 2014-2015 FSA Handbook p. 4-60 If a student is over-awarded and your school has already disbursed Direct or PLUS loan funds, you have a few options: The second or subsequent disbursement can be canceled or reduced If the over-award situation occurs after Direct Loan funds have been fully disbursed, you do not need to adjust it. However, you might have to adjust the aid package to prevent an over-award of Campus-Based funds. Documentation GEN 96-13 Attachment C, Question 37 NSLDS documentation Reaffirmation or Promise–to–Pay MAKING A DIFFERENCE 2014-2015

4. RESOLVING DEFAULT Regulations GEN 96-13 Repayment in full (including consolidation) Satisfactory repayment arrangements Loan rehabilitation Know your NSLDS Loan Status codes: 2014-2015 FSA Handbook p. 1-59 Documentation Letter from Loan Servicer Unacceptable Documentation

5. COD… TIPS, TRICKS, AND TESTIMONIALS How to find the meaning of an Error Code: Log into COD and then go to the BATCH tab Type in student’s SSN and click on the corresponding “Reject” link What are some “common” Reject codes that administrators encounter? Remember, contact COD when in doubt! (800)848-0978

6. PLUS PROCESSING New PLUS Loan Changes Effective March 29, 2015 EA 2/27/2015 PLUS Loan Counseling Requirement New tag in Common Record New Requirements for Determining Adverse Credit: Bankruptcy, foreclosure, tax lien, default determination OR The applicant has one or more debts that are: 90+ days delinquent Are in collection or have been charged off during the two years prior the credit report. AND The total amount of the outstanding balance of those debts is greater than $2,085.00

7. SUMMARY NSLDS Over-awards: Resolving Defaults: PLUS Processing: Tips and Tricks? MAKING A DIFFERENCE 2014-2015 AARON PETERSON, Anoka Ramsey Community College Aaron.Peterson@anokaramsey.edu ANGELA LOFGREN, Metro State University Angela.Lofgren@metrostate.edu JODY STADLER, University of Minnesota - Twin Cities stad0059@umn.edu