Direct Subsidized Stafford Loan

A student's eligibility for a Direct Subsidized Stafford loan is determined entirely on the student's ability to demonstrate financial need. The U.S. Department of Education subsidizes the interest; therefore, the borrower is not charged interest while they are enrolled in school at least half-time, and during grace and deferment periods.

Direct Unsubsidized Stafford Loan

A student is eligible for a Direct Unsubsidized Stafford loan regardless of their financial situation. Borrowers are responsible for paying the interest on these loans.

Direct PLUS Loan

Direct PLUS loans enable parents to borrow on behalf of their dependent students who are enrolled at least half-time. Borrowers are responsible for paying the interest on these loans.

Direct Graduate/Professional PLUS loans, or Grad PLUS loans, are intended for graduate or professional students who borrow money for themselves. The award amount equals the COA less any financial aid for FAFSA applicants.

Fed/Inst Affected

Select Both Fed and Inst (both federal and institution) from the available values.

Meet Need/Cost

Select Straight Need/Cost from the available values.

Rounding Option

Select Dollar from the available values.

Round Direction

Select Nearest from the available values.

Award Remainder Rule

Select Last-Dllrs (last dollars) from the available values.

Fee Remainder Rule

Leave this field blank.

Truncate Fees

Select this check box.

Need Based

Select this check box.

Auto Package

Select this check box.

Missing Term Enrollment

Select the Split evenly across valid term check box for direct lending setup. Disbursement plans determine the disbursements across terms, but students may not attend all terms defined for the disbursement plan. The Missing Term Enrollment rule allows you to specify if you want disbursements to be split evenly among the remaining terms for which the student is actually enrolled. By selecting the Split evenly across valid term check box, you are instructing the system to split the award among the remaining enrolled terms for the student. For example, if the disbursement plan is for fall, winter, and spring quarters, but the student is only enrolled for fall and spring with the Split evenly across valid term check box selected, the award amount is split evenly between the fall and spring terms.

Loan Program

Ensure this field displays Direct Lending. The value comes from the aggregate area you select on the Financial Aid Item Type 1 page.

Direct Lending

Direct Lending

Loan Interest Attribute

Ensure this field displays Subsidized for subsidized Stafford loans. The value comes from the aggregate area you select on the Financial Aid Item Type 1 page.

Ensure this field displays Unsubsidized for subsidized Stafford loans.

Ensure this field displays Unsubsidized for PLUS or Graduate PLUS loans.

Loan Fees

Select your direct lending fee ID for subsidized Stafford loans.

Select your direct lending fee ID for unsubsidized Stafford loans.

Select your direct lending fee ID for PLUS or Graduate PLUS loans.

Loan Fees (interest rebate)

Insert a row to add interest rebate for the loan. Select the direct loan rebate fee you set up on the Loan Fee Table page. The up-front interest rebate amount of 1.5 percent (in 2004-05) of the gross disbursement is calculated at the disbursement level for each direct subsidized, direct unsubsidized, and direct PLUS loan. The rebate amount is added after the loan fee percent is subtracted from the gross disbursement amount.

Same as for subsidized Stafford.

Same as for subsidized Stafford.

Fee Percentage

3% (in 2004-05) The loan fee values are derived from the Loan Fee Table.

3% (in 2004-05)

4% (in 2004-05)

Method

Select Document.

Direction

Select Outgoing.

Letter Code

Select Loan Promissory Notes. You set up the letter code on the Standard Letter Table page (Build Community, Communications, Setup, Standard Letter Table).

Function

Select Loan for the administrative function.

Communication Context

Insert rows for the communication contexts you created for the direct Stafford loan, direct PLUS, Perkins loan, Health Profession loan, and university/institutional loan types.

3C Update/Inquiry Group

Select the 3C group to which you want to give access for the selected Communication Category. This field is required for promissory note processing.

Comm Key

Enter MPN for the MPN Communication Key, PLUS for the PLUS Communication Key. For Health, Perkins, and university/institutional loans, give each a unique communication key.

Category

Enter the category you set up for MPN, PLUS, Health, Perkins, and university/institutional loan communication categories. This value should match the name of the communication category that you set up previously.

Context

Enter MPN for the MPN context field, PLUS for the PLUS context field. For Health, Perkins, and university/institutional loans, select the matching context. These values should match the names you applied to the communication context that you set up previously.

Method

Select the method that you want to use to deliver the promissory note. This should match the method used when setting up the Context.

Direction

Select the direction that the promissory note is going. For example, out might refer to something being sent out from your institution. This should match the method used when setting up the Context.

Letter Code

Select the appropriate letter code for the type of promissory note. You can have one letter code type for all loan types. In this example, we created a letter code type of LNS (loans).

Financial Aid EDI Transactions

FA_ECTRANS

Set Up SACR, Product Related, Financial Aid, File Management, Maintain EDI Transactions

Set up your default partner profiles.

Loan Dest Profile

LOAN_DEST_PROFILE

Set Up SACR, Product Related, Financial Aid, Loans, Commonline 4, Create Loan Destinations

Define the participants your institution uses to exchange loan application data. You can designate multiple destinations for a given loan program.

Ln DL Inst Parm (loan direct lending institution parameter)

LN_DL_INST_PARM

Set Up SACR, Product Related, Financial Aid, Loans, Direct Loan Change Rules

Set up change parameters for your institution. By setting change parameters for specific fields, you can determine how direct lending change processing handles the specified fields.

Ln Pnote Type (loan promissory note type)

LN_PNOTE_TYPE

Set Up SACR, Product Related, Financial Aid, Loans, Define Serial Promissory Notes

Add the master promissory note (MPN), PLUS note, health, Perkins, and university/institutional loan types to the loan promissory note table. You must do this before using the promissory note functionality.

Loan Institution Table

LOAN_INST_TABLE

Set Up SACR, Product Related, Financial Aid, Loans, Define Loan Institutions

Set up Common Origination and Disbursement (COD) for Direct Lending. Define how your school processes loans for the academic year. You must define your loan processes for each academic career at your institution.

Loan Institution Address Information

LN_INST_ADDR_SEC

Click the Loan Institution Contact link on the Loan Institution Table page.

Enter address information for your department that works with loans.

Loan Institution Contact Information

LN_INST_CNTCT_SEC

Click the Loan Institution Contact link on the Loan Institution Table page.

Enter address information for your loan contact personnel.

Loan Destination Default

LOAN_INST_TABLE2

Set Up SACR, Product Related, Financial Aid, Loans, Define Loan Institutions, Loan Destination Default

Set up your default loan destination parameters.

Loan Report Definitions

LN_RPT_DEFN

Set Up SACR, Product Related, Financial Aid, Loans, Define Loan Report Definitions

Used for Promissory Note processing prior to aid year 2002/03. View information for loan report form IDs used to create loan documents such as promissory notes, master promissory notes, truth in lending notices, total indebtedness statements, and cover letters. You can also use this page to view the source data and format for a specific loan document. This page is used for defining report definitions for health professional, Perkins, and institutional loans. This setup page is not used for direct lending beginning with aid year 2001-2002. The direct loan report definitions and types are now predefined for you.

Copy Document Definition

LN_RPT_CPYDEF

Set Up SACR, Product Related, Loans, Copy Loan Report Definitions

Used for Promissory Note processing prior to aid year 2002/2003. Copy loan documents from one aid year to another. This page is used for health professional, Perkins, and university/Institutional loans.

Loan Report Packages

LN_RPT_PCKG02

Set UP SACR, Product Related, Financial Aid, Loans, Maintain Loan Report Packages

Define and create groups of loan documents.

Beginning with aid year 2002/2003, this must be set up for Direct Lending and collated Promissory Note processing for Perkins, health professional, and university/institutional loan types.

Loan Servicer Table

LOAN_SERVICE_TABLE

Set Up SACR, Product Related, Financial Aid, Loans, CommonLine4, Define School Servicers

Identify the servicers that your institution uses for processing loans. You can also use this page to add a new servicer.

Servicer Electronic Address

SERV_ADDR_SEC

Click the Electronic Address link on the Loan Servicer Table page.

Enter an email address for the loan servicer.

Servicer Contact Information

SERV_ADDR_SEC

Click the Contact Address link on the Loan Servicer Table page.

Enter address and email information for the individual contact that you entered on the Loan Servicer Table page.

Loan Transfer IDs

LN_XFER_ID_UPDT

Set Up SACR, Product Related, Financial Aid, Loans, Maintain Loan Transfer ID, Loan Transfer IDs

Set up your EC transaction ID for all outbound loan file transactions. The system uses the data from this page to populate the Loan Destination Profile table.

Loan Type Table

LOAN_TYPE_TABLE

Set Up SACR, Product Related, Financial Aid, Loans, Create Loan Types

Enter specific processing types and loan requirements for a particular loan type. You can also associate specific loan item types to the loan type.

Direct Loan Options

LOAN_TYPE_TABLE_DL

Set Up SACR, Product Related, Financial Aid, Loans, Create Loan Types, Direct Loan Options

Specify direct lending options for the loan type setup. This page is used to define your disbursement options from Financial Aid to PeopleSoft Enterprise Student Financials. Additional options define when disbursements are transmitted to the Common Origination and Disbursement (COD).

Loan Type Documents

LOAN_TYPE_DOCUMENT

Set Up SACR, Product Related, Financial Aid, Loans, Create Loan Types, Loan Type Documents

Define which loan documents — loan report form IDs — should be associated with the selected loan type. This setup links the loan report form ID to a specific loan type.

EC Transaction ID

The ID is based on the message classes used for direct lending. See the Direct Lending Technical Reference for further information. Use the Add link to add additional EC transaction IDs for this partner profile. You should add all the direct lending message classes that you use at your institution.

In/Out

The system indicates whether the file is I - Inbound or O - Outbound.

EC Option

Leave this field blank for Direct Lending.

Op Value

Leave this field blank for Direct Lending.

EC Action Code

Leave this field blank for Direct Lending.

Pri Event

Leave this field blank for Direct Lending.

Sec Event

Leave this field blank for Direct Lending.

DEPF05IN

O

Export To LOC

PLUS origination file

DESC053IN

O

Export To LOC

Change file

DESD05IN

O

Export To LOC

Disbursement file

DESF05IN

O

Export To LOC

Stafford origination file

DIOC05OP

I

Import From LOC

Change acknowledgement file

DIOD05OP

I

Import From LOC

Disbursement acknowledgement file

DIPA05OP

I

Import From LOC

Promissory note acknowledgement file

DIPC05OP

I

Import From LOC

PLUS credit decision file

DIPF05OP

I

Import From LOC

PLUS origination acknowledgement file

DISF05OP

I

Import From LOC

Stafford origination acknowledgement file

DSLF05OP/DSDF05OP

I

Import From LOC

Statement of account summary file

Destination

The system assigns and displays a unique numeric identifier when you create a destination.

Loan Program

This should display Direct for direct lending.

Tolerance

Enter the tolerance value to determine the amount difference you want the system to allow with loans.

Guarantor ID

This field does not apply to direct loans.

Lender ID

This field does not apply to direct loans.

Servicer ID

Select the servicer ID for direct lending. This value is delivered with your system.

OE Cd Branch (Office of Education code branch)

The system displays the OE Cd and Branch for the Servicer ID that you select.

Physical Destination

Select Servicer for direct lending. The Physical Destination refers to the destination that you intend to receive the loan application.

Loan Print Option

Select the appropriate option depending on your institutions arrangement with the LOC.

Ovrd (override)

You select this check box to be able to save the page without having designated a Guarantor ID, Lender ID, and Servicer ID. But, this does not apply to direct lending, so you can save the page with only the Servicer ID without selecting this check box.

Pre-Guarantee Contact

Select Servicer for direct lending.

Pre-Disb Contact (pre-disbursement contact)

Select Servicer for direct lending.

Post Disb Contact (post disbursement contact)

Select Servicer for direct lending.

Loan Category

Identify the loan category that the loan destination will process. The loan categories include PLUS, Sub/Unsub, Subsidized, and Unsub. The category Sub/Unsub does not apply to direct lending. Direct lending institutions should use Subsidized, Unsub, and PLUS. You should add a loan category for all three Direct Lending loan types: subsidized, unsubsidized, and PLUS.

Track PN (track promissory note)

This field does not apply to direct lending.

Proc. Level (process level)

Identify the loan processing level that the loan destination performs for the corresponding loan category. For direct lending, select Direct for all of your loan categories.

Chg Field # (change field number)

Select the field that you want to change. The change field numbers correspond to those assigned by the LOC, as defined in the Direct Lending Technical Reference.

DL Change Type

Indicates whether the specified change field number represents a demographic or financial change.

Change Parm (change parameter)

Select the parameter for each field.

No Chg (no change): The system does not consider the specified field during change processing. When you make changes to fields that are assigned this change parameter, the system does not create a change transaction.

Spnd Red (suspend reduced): used for financial change types only. If the change results in a reduced disbursement amount, the system suspends the loan.

Suspend: When you make changes to fields that are assigned this change parameter, the system creates a change transaction and places the loan on hold. This enables you to review the loan to determine if the change is appropriate. If the change is fine, you can remove the hold.

Loan PNOTE Type (loan promissory note type)

Enter a type for MPN. Insert a row to add additional types for PLUS, Perkins, health, and university/institutional loans.

Communication Speed Key

On each row, enter the Communication Key that should be associated with the loan PNOTE type.

FFELP/Direct Participant

Indicates if your loan institution can originate FFELP or Direct Loans-All Loans (both FFELP and direct lending) Direct (Lending only), or FFELP (only). Alternative loans are not affected by this setting.

DL Disclosure Print

Indicates where the loan disclosure is printed. Select from LOC, Reprint, School. Reprint indicates that the Department of Education has authorized the institution to reprint copies of the Direct Loan Disclosure Statement. In most cases, you should select LOC.

SSN Source

Indicates where you want the student's Social Security Number to come from in the system. Select CC (Campus Community) or ISIR.

DUNS ID (data universal numbering scheme)

Enter your DUNS ID. The Department of Education assigns the DUNS number to the reporting institution.

DL SchCd (direct lending school code)

Enter your school code for direct lending. This field is hidden if your school does not participate in the direct lending program.

COD Full Participant

Select to activate the SFA Common School ID field. Enter your Common School ID number that is assigned to your institution by the U.S. Department of Education.

Note. Based on the U.S. Department of Education's Common Origination and Disbursement (COD) implementation plan, only institutions approved as Full Participants for the 2002/03 award year are eligible to process files through the 2002/2003 Direct Lending COD single file process. If your school is a full participant, the only processes that change are the Outbound File creation process and the Inbound File process.

Access America Participant

This check box does not apply to direct lending.

DL Serial MPN Activation (direct lending serial master promissory note activation)

Select this check box if the loan institution you are defining uses the direct loan serial master promissory note. Do not check this field if your school is not eligible to process direct lending master promissory notes (for example, if your institution is a community college, or certain graduate schools). If you are not sure about your promissory note processing status, please contact your client account manager at the LOC. This field is hidden if your school does not participate in the direct loan program. If this field is hidden and your school does participate in the direct loan program, please review your setup on the Installation Defaults, Fin Aid page.

EDE Special School

Check this field if your institution as been approved as an EDE special school.

Cntact Nbr (contact number)

Use this number to prioritize the list of contacts. The person with a contact number of one is considered the primary contact.

Name

Name of the loan officer.

Title

Title of the loan officer.

Func Area (functional area)

Use this field to enter information about the functional area of which this contact person is in charge.

Loan Program

Select Direct for direct lending.

5. Default Destination

Indicates the default loan destination. Select the loan destination number you have created for this processing year for direct lending LOC. The loan destination number is created on the Loan Dest Profile page.

Loan Report Form ID

Contains the ID assigned to the loan report form.

Ln Output Type (loan output type)

Displays the output type for the specified Loan Report Form ID. The following field values are possible:

External Product: Select if you are using an external source to print your Loan Report Forms.

Fixed Length: Select if you are creating external reports using fixed length field values. Use this option if you use the loan report definitions to create/outbound flat files to be used by a separate process or software application to print loan report documents.

Positional: Select if you are using preprinted forms.

Delimited Fields: Select if you are creating reports using delimited field values. Use this option if you use the loan report definitions to create/outbound flat files to be used by a separate process or software application to print loan report documents.

Checklist Item Code

Select a value to associate a checklist item with this Loan Report Form ID.

Function

Displays LOAN to indicate that the system is printing loan documents.

Nbr Copies (number of copies)

If this is a new Loan Report Form ID, enter the number of copies to print for this report. The system automatically populates this field for pre-delivered loan report form IDs.

Document Type

Select a document type that describes the Loan Report Form ID.

Cover Ltr: Indicates a cover letter.

Mstr Pnote: Indicates a master promissory note.

P Note: Indicates a promissory note.

TIL: Indicates a Truth-in-lending notice.

TIS: Indicates a total indebtedness statement.

Hlth PNote: Indicates a health promissory note.

Perk PNote: Indicates a Perkins loan promissory note.

Univ PNote: Indicates a promissory note for a university loan.

Out Seq (output sequence)

Indicates the sequence in which the corresponding field is included in the selected report definition.

Record (Table) Name

Indicates the table name from which the system retrieves data to print on the loan report form ID. Select the appropriate table when creating new loan report form IDs.

Field Name

Indicates the field name from which the system retrieves data to print on the loan report form ID. Select the appropriate field when creating new loan report form IDs.

Tgt Col (target column)

Marker used by JetForm when printing.

Field Tag

Marker used by JetForm when printing.

Start Pos (start position)

Indicates the field position in the printed layout for positional printing.

End Pos (end position)

Indicates the field position in the printed layout for positional printing.

Page #

Indicates the field position in the printed layout for positional printing.

Line #

Indicates the field position in the printed layout for positional printing.

DL_MPN_E

Direct Loan Master Promissory Note

External Product

DL_MPN_P

Direct Loan Master Promissory Note

Positional Print

DL_PLUS_E

Direct Loan PLUS Promissory Note

External Product

DL_PLUS_P

Direct Loan PLUS Promissory Note

Positional Print

Ext Ovrd Parm (external override parameter)

If you are using an external product, you can enter valid values in this field using the guidelines set by the external product. This field appends parameters to the JOB line in the external product extract file. Please review your external product user's guide.

Leave this field blank if you do not use an external product.

Field Delimiter

This field is not used for promissory note processing.

Input/Output file

If you are using an external product, you must enter a file name to export the report package. This specifies where the output goes when you run the print process.

Leave this field blank if do not use an external product.

Rpt Seq (report sequence)

This designates the order in which the system creates the output for each loan document.

Document Type

These are delivered with your system. You must insert a new row for each loan document type that you want to include in the package.

File Name

If you are using an external product, you must enter the file name of the external product form you want to associate with the document type. For example, if the document type is Master Pnote, you would enter MPN0400_E. For document type Perkins Pnote, you would enter PERKNS_E.

Leave this field blank if you do not use an external product.

Loan Type

Enter the loan types associated with the Master PNote, Promissory Note, Perkins PNote, Health Professional PNote, University Loan PNote, and Truth-in-Lending document types.

All non-direct lending document types need to have a loan type selected. For example, the Perkins PNote and the Perkins truth-in-lending document types should both have the Perkins loan type selected.

Loan Report Form ID

Select the report form ID that represents the source loan documents you want to copy. Loan report form IDs are defined on the Loan Report Definitions page.

Aid Year

Indicates the aid year of the source loan documents.

Ln Output Type

Indicates the output format you want to produce. The following values are possible:

D—Delimited: Delimited by a character that you choose when setting up the report, such as a comma.

E—External: Used for third-party printing applications.

F—Fixed Record Position: Creates a file of a fixed length so that the fields are always the same width.

P—Positional on preprinted forms: Prints the data fields onto a preprinted form.

New Loan Report Form ID

Indicates the name of the new loan report form ID to which you are copying the source documents.

Description

Describes the new form ID. This value defaults from the source form ID.

Short Description

Indicates the short description for the new form ID. This value defaults from the source form ID.

New Aid Year

Indicates the aid year to which you are copying the source documents.

New Loan Output Type

Indicates the output format you want to use. This value defaults from the source value. For a list of valid field values, see the Loan Output Type field definition.

EC Transaction ID (electronic commerce transaction ID)

Select from the available options. When you tab to the next field, the system displays the Description and Short Desc (descriptions) for the EC Transaction ID. The EC Transaction ID is based on the Message Classes used for Direct Lending. See the Direct Lending Technical Reference for further information.

Loan Action Type

This field does not apply to direct lending.

In/Out

The system indicates whether the file is Inbound or Outbound.

Batch Yr (batch year)

Enter the last digit of the appropriate aid year. For example, enter 2 for 2002.

Batch ID

Indicates the unique ID for the batch. It is used when transferring data to the loan destination.

FA EDI Source Entity Cd

Select the appropriate value for your institution. For most institutions, you select FATP.

FA EDI Source Business Unit

The system populates this field once an FA EDI Source Entity Cd is selected. The default value should be FABU. This allows the EDI Manager to retrieve and generate the appropriate file structure.

FA EDI Destination Entity Cd

Select the appropriate value for your institution. For most institutions, you select FATP.

DSDF07OP

In

Import COD Statement of Account Summary file-Disbursement Level

7

AS

FATP

FABU

DSLF07OP

In

Import COD Statement of Account Summary file-Loan Level

7

AS

FATP

FABU

Loan Category

Select Subsidized, Unsubsidized, or PLUS depending on the type of loan you are defining. Do not select any option except one of these for direct lending. If you select PLUS, a Graduate PLUS Indicator check box displays. Select the check box for Grad PLUS loans.

Loan Program

Select the Direct option for direct lending.

For example, to set up a Subsidized Stafford loan processed through direct lending, the Loan Category is Subsidized and the Loan Program is Direct.

Loan Refund Indicator

Select one of the following.

Borrower: The borrower of the loan receives any refunds from the loan. For example, the borrower could be a parent or guardian for a PLUS loan.

Student: The student receives any refunds from the loan, whether they are the borrower or not.

You can override the Loan Refund Indicator at the loan application level.

Credit Check Required

Select if a credit check is required for type of loan. If selected, direct loan disbursements to the students and transmissions to the LOC do not occur until the credit check is accepted. Select this check box for PLUS loans.

Loan Fee Rate

Enter the rate that you want printed on the promissory note for this type of loan and transmitted on the Loan Origination Record. Ensure that the Loan Fee Rate matches the Loan Fee setup for the Financial Aid Item Type you associate with this Loan Type.

Max Nbr Disbs (maximum number of disbursements)

Enter the maximum number of disbursements allowed per loan. The recommended values are 20 for Stafford loans and 4 for PLUS loans.

Min Loan Amt (minimum loan amount)

Enter the minimum loan amount your institution allows. The value should not be less than the COD minimum.

SetID

The Set ID you select determines the Item Types available for you to select.

Item Type

Your selection available depends on the Set ID that you entered. For direct lending you cannot have multiple financial ad item types associated with the same loan type. You must create a separate loan type for each direct lending item type you want to process. You cannot share financial aid item types across multiple loan types. If you try to use the same item type with a new or another loan type setup, you receive an error message.

Loan Fee

Displays the type of loan fee associated with the item type selected. When you insert a row, you can use the inner scroll bar to view the new rebate loan fee percentage.

Ln Fee Amt (loan fee amount)

Displays the dollar amount of the loan fee for the item type selected.

Loan Fee Typ (loan fee type)

Displays the loan fee type associated with the financial aid item type. For direct lending you should have a row for rebate and a row for loan fees.

Ln Fee Pct (loan fee percentage)

Displays the loan fee percentage charged for the Item Type selected. These values are from your item type setup. Direct subsidized and unsubsidized Stafford loans for 2001-2002 have a loan origination fee of 3%. PLUS loans have a loan origination fee of 4%. The system also displays the interest rebate of 1.50% for the direct loan rebate.

Use Direct Loan Version

Displays the direct lending version you are using.

Days to Add to Inserted Disb (disbursement)

This is used for Stafford loans only. When entering an additional disbursement, the system adds the value specified in this field to the current date. This date becomes the anticipated disbursement date on the Origination Change Record for the added disbursement. This field allows you to add days to the anticipated disbursement date so the money is actually disbursed later than the anticipated disbursement date. For example, you can take a loan that is being processed today and use this field to add days to the anticipated disbursement date that is placed on the Loan Origination record. This makes the date reported to the COD later than the disbursement date. This field is not commonly used since generally institutions want to disburse sooner, not later.

DL Disbursement Option

Indicates when you want the system to allow loans to be disbursed to the student's accounts.

Orig Ack: Disburses loans after you receive the Origination Acknowledgment.

Orig: Disburses loans after you originate the loan.

Orig+PNote: Disburses loans after you receive the origination and promissory note acknowledgments.

PNote Ack: Disburses loans after you receive the promissory note acknowledgment.

DL Transmit Disb Optn (direct lending transmit disbursement option)

Indicates when you want the system to allow transmission of disbursement files to the LOC.

Orig Ack: Transmits direct lending disbursements after you receive the origination acknowledgment.

Orig+PNote: Transmits direct lending disbursements after you receive the origination acknowledgment and the LOC accepts the promissory note.

Originate Loan

Orig

YES

?

Originate Loan

Orig Ack

NO

Outbound the Originations file then wait for the Origination Acknowledgment file and import the file.

Originate Loan

Orig + PNote

NO

Outbound the Originations file.

Promissory notes must be accepted through Promissory Note acknowledgement file from the COD (also printed and manifested if required). The promissory note acknowledgement file must be loaded into the system.

Wait for the Origination Acknowledgment file and import the file.

Originate Loan

PNote Ack

NO

Promissory notes must be accepted through Promissory Note acknowledgement file from the COD (also printed and manifested if required). The promissory note acknowledgement file must be loaded into the system.

Orig Ack

Yes, if Origination Acknowledgement has been imported and Loan Origination is accepted.

If Loan Origination Acknowledgement has not been imported, wait for the Loan Origination Acknowledgement file, load and import the file.

Then run the Direct Loan Out process. Review the processing status of the outbound process on Inquire 1 pages, then run the Outbound EC Agent process to create the outbound disbursement files.

Orig + PNote

Yes, if Origination Acknowledgement has been imported and Loan Origination is accepted.

Also, Promissory notes must be accepted through Promissory Note acknowledgement file from the COD (also printed and manifested if required). The promissory note acknowledgement file must be loaded into the system.

If Loan Origination Acknowledgement has not been imported, wait for the Loan Origination Acknowledgement file, load and import the file. Then run the Direct Loan Out process.

Then run the Direct Loan Out process. Review the processing status of the outbound process on Inquire 1 pages, then run the Outbound EC Agent process to create the outbound disbursement files.

Ln RptFrmID (loan report form ID)

This list includes all of the loan report form IDs created on the Loan Report Definitions page. Enter a Description and Short Desc (description) for the loan document(s) being associated with the loan report form ID.

LnDoc ID (loan document ID)

A value stored on the promissory note or master promissory note record and is used to support customized loan processing.

Nbr Copies (number of copies)

The number of copies requested for this document and is the same value selected on the Loan Report Definitions page.

PNote Type (promissory note type)

You can select Annual Nte (note), Ln Appl (loan application), Master Nte (master promissory note) or Open Note. The promissory note type indicates what type of promissory note to generate.

Interest Rt (interest rate)

Enter the interest rate for the loan if it is a fixed interest rate loan. If the interest rate is variable, select the Variable Interest Rate check box. When the Variable Interest Rate check box is selected, you cannot enter an interest rate. A variable interest rate is not used in the direct loan program.

Loan Action Code

LOAN_ACTNCD_WK00

Set Up SACR, Product Related, Financial Aid, Loans, Maintain Action Code Table

View loan action codes and messages and their descriptions.

DL Change Field Cross Reference

DL_CHG_XREF

Set Up SACR, Product Related, Financial Aid, Loans, View Direct Loan Change Fields

View loan action codes and descriptions related to Change Origination processing. This is a system definition table used for Direct Lending File processing. The Hold/Suspense options, for students and globally, come from this table.

Loan Transfer ID Data

LN_XFER_ID_UPDT

Set Up SACR, Product Related, Financial Aid, Loans, Maintain Loan Transfer ID

View loan transfer IDs and descriptions.