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Session 21
Whats New for Direct LoanProcessing in 2003-2004?
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Overview of COD
Redefines aid origination and disbursementprocesses for Pell Grants and Direct Loans, andprovides optional common reporting opportunitiesfor campus-based programs
Integrates a common process with a systemdesigned to support origination, disbursement,and reporting
Increases accountability and program integrity
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Overview of COD
COD replaces the Recipient FinancialManagement System (RFMS) and the DirectLoan Origination System (DLOS) starting in 2002-2003
ALL SCHOOLS data is processed by CODbeginning in award year 2002-2003
ALL SCHOOLS can access the COD website athttps://cod.ed.gov
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Session 21 - 5
Your schools participant status is determined bythe method you use to transmit your data to COD:
Full Participants
Schools that submit data using the COD CommonRecord Layout in XML format
Phase-In Participants
Schools that submit data using Pell Grant/Direct Loan
Record Layouts in fixed-length, flat file format
ALL SCHOOLS must become full participants byaward year 2004-2005
COD Participation
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Session 21 - 6
Common Origination &
Disbursement System
Full Participant Phase-In Participant
EAI BUS
Pell, DL, & Campus
Based Data
Pell DirectLoan
Campus-Based
FISAP
Processing
Origination, Disbursement, & Change Records
Common Record
COD Participation
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How do I become aCOD Full Participant?
s Schools must register with COD to become a FullParticipant in Award Year 2003-2004
s To register, contact COD School Relations Email [email protected]
Indicate 2003-2004 Full Participant in Subject Line
Call COD School Relations Select Award Year 2002-2003 and express interest to your
COD CSR
s All EDExpress Users must register as FullParticipants for 2003-2004
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COD CashManagement Tools
s COD Web Pages Provide up to date information about funds
drawn by school
Allow for easy comparison of accepted studentlevel disbursement records to funds
Allow easy view of Current Funding Level
Show GAPS activity Provide for self-assessment of cash
management compliance
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COD CashManagement Tools
s Aging of Drawdowns
Each drawdown is aged to see how long it
takes to substantiate the draw
Lets a school know at any point how much
funds have not been substantiated
s Funds are available based on actual
disbursement records
Records are accepted 7 days out
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COD CashManagement Tools
s Customer Service assistance
Primary representative for each
School/Servicer Performs outreach activities including for
funding issues (calls & warning messages)
Reconciliation Team
Provides Funds Management Support to Schools
Has access to GAPS information
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COD Web Pages
s School Summary Information
s School Funding Information
s School Summary Financial Information
s Refunds of Cash Information
s Cash Activity
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Session 21 - 14
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Session 21 - 15
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Session 21 - 17
Processing Statistics-Originations
0150,000
300,000
450,000
600,000
750,000
900,000
1,050,000
1,200,000
1,350,000
April
'02
May
'02
Jun
'02
July
'02
Aug
'02
Sept
'02
Oct
'02
Nov
'02
Month
#ofOriginationRecord
s
Received
PLUS
Sub
Unsub
Pell
Award Type April '02 May '02 Jun '02 July '02 Aug '02 Sept '02 Oct '02 Nov '02PLUS 0 0 27,345 47,285 56,392 32,788 19,832 6,461
Sub 4,532 79,099 196,202 324,379 366,145 203,198 121,384 44,851
Unsub 2,322 50,297 133,897 213,529 257,634 145,203 90,030 33,855
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Session 21 - 18
Processing Statistics Disbursements
0150,000
300,000
450,000
600,000
750,000
900,000
1,050,000
1,200,0001,350,000
1,500,000
April
'02
May
'02
Jun
'02
July
'02
Aug
'02
Sept
'02
Oct
'02
Nov
'02
Month
#
ofActualDisbandDis
b
AdjustmentRecordReceived
PLUS
Sub
Unsub
Pell
Award Type April '02 May '02 Jun '02 July '02 Aug '02 Sept '02 Oct '02 Nov '02
PLUS 0 12 161 581 39,872 50,494 46,232 14,255
Sub 0 3,839 15,150 26,381 369,693 382,452 302,268 78,410
Unsub 0 2,640 9,557 18,650 262,398 258,162 212,297 59,775
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Session 21 - 19
Start Up Issues
Batch Acknowledgement Records
Timely Delivery of
Acknowledgement Files
All system issues have been corrected
Acknowledgements have been resent
and the schools have been contacted
regarding the outstanding
acknowledgements
Issue Resolution
Batches not completelyprocessed by COD
COD is monitoring all incoming batchesdaily
COD is investigating this issue
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Start Up Issues
Timing of Disbursements
Issue Resolution
When an origination and a
disbursement are sent toCOD on the same batch or
within a short period of each
other, COD rejects the
disbursement
COD rejects the disbursement
because it processes thedisbursement before the
origination. The workaround is
for schools to send
disbursement records after the
origination records are
acknowledged COD is currently analyzing a
long term solution to prevent this
from happening
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Session 21 - 21
Start Up Issues
Direct Loan Promissory Notes
Some #D origination
acknowledgements returned with
MPN status = spaces
COD program modifications made
to not treat reject legacy
originations as change records.
Issue Resolution
COD does not return appropriate edit
code when Pnote not linked because
the Loan Amount Approved on
origination exceeds Loan Amount on
Pnote
COD is testing program
modifications. Affected schools
have been advised to send change
records as a short term solution.
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Start Up Issues
Direct Loan Promissory Notes Continued
Issue Resolution
Approximately 13,000 PLUS Pnotes
were keyed into the LO system withan incorrect award year. Due to
incorrect award year, LO reject the
Pnotes and did not send the
information to COD
All of the miskeyed Pnotes have
been corrected andacknowledgements have been sent
out.
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Electronic MPN
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Electronic MPNStatistics
s Number of schools participating
403
s Total number of electronic p-notes
From July 1, 2001 to October 9, 2002
195,175
s Winner of the 2001 Government Technology
Leadership Award from Government ExecutiveMagazine
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Paper vs E-MPNs
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Whats Planned for2003-2004?
EDExpress users will become Full Participantsin 2003-2004
EDExpress Software will be modified to import andexport XML to the COD System
For combo systems, external import and exports willcontinue to be in current fixed length formats
All reports will continue to be produced and imported
in current formats not XML
All EDExpress users must register with CODCustomer Service as 2003-2004 FullParticipants
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Whats Planned for2003-2004?
Entrance Counseling will be moved to the
Direct Loan Servicing Website
By moving entrance counseling to DL Servicing,
student borrowers will be introduced to the DL
Servicing website earlier in the process
Bilingual Entrance Counseling will be available on
DL Servicing website
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Whats Planned for2003-2004?
Record Layout changes
Modified Common Record Tag Names Eliminating abbreviations from tag names [suggestion from the Post
Secondary Education Standards Council (PESC)]
2002-2003 COD Full Participants have the option to continue to use theold 1.0g Schema or the new 2.0a Schema to process 2002-2003Common Records
New Tag/Field: Endorser Amount
Amount above which a loan cannot be increased once an endorser isaccepted
Returned to schools on the Credit Decision OverrideResponse/Acknowledgement
MPN Status will be returned on the Credit Decision OverrideResponse/Acknowledgement
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Whats Planned for2003-2004?
New MPN for Sub and Unsub
Current MPN being used for 2002-03 expired August2002 and will be extended through the entireprogram year
Upon implementation of release 2.0, COD will printthe new MPN for all Sub and Unsub
The new MPN is to be used for all 2003-04 awards
COD will continue to accept and process both the oldand new notes
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Whats Planned for2003-2004?
New Rules will be set up for MPN ExpirationDates
New rules will be based on the earliest of the date theborrower signed MPN or the date COD received and
processed MPN instead of first anticipateddisbursement date
These new business rules will apply to MPNs wherethe first loan linked to the note occurs on or after
implementation of 2.0 release Current business rules using first anticipated
disbursement date will apply to MPNs where the firstloan linked using pre-2.0 release
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Whats Planned for2003-2004?
There will be a Master Promissory Note for PLUSLoans
Parents borrowing for more than one student must
complete a separate MPN for each student
Student signature is NOT required for a PLUS MPN
Disclosure statements will be required for PLUS loans
If a borrower requires an endorser, the PLUS MPNbecomes a single-loan MPN and cannot be linked toother loans
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Whats Planned for2003-2004?
s Modifications to the Electronic Master PromissoryNote Site Borrowers will not need to view the signed copy in
Adobe Acrobat
The URL will remain the same for both the PLUS andSub/Unsub versions
The PLUS MPN process will follow theSubsidized/Unsubsidized steps
There will be a link for borrowers to determine if theyneed to complete a PLUS or Sub/Unsub note
Only the parent will need to sign the PLUS MPN
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Whats Planned for2003-2004?
With the implementation of PLUS MPN, theAward Amount Requested tag/Loan AmountRequested field is eliminated
For Full Participants, Award Amount Requested tagwill no longer be returned on MPN responses
For Phase-In Participants, the Loan AmountRequested field is modified to filler for the loan
origination record, the loan originationacknowledgment and MPN acknowledgment
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Whats Planned for2003-2004?
Responsibility for printing Disclosure Statements
A valid value will be added to the Disclosure StatementIndicator to indicate that a school printed and provided adisclosure statement to the borrower
The school will be responsible for printing disclosurestatement if anticipated disbursement data is not sent atleast 5 days in advance of the first disbursement
If disbursement data is sent by school within five days of,or after, the disbursement date and the school does notindicate the disclosure has been printed, COD will printthe disclosure and send a warning to the school
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Session 21 - 35
COD Timeline
2003 2004 Development Schedule:
Requirements Complete July 2002
Design Complete September 2002
Development Complete November 2002
School/Vendor Testing: February 2003
System Start Up: March 2003
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2003-2004 COD SchoolTesting
s School Testing Phases: Common Record Manual Verification February 2003
Structured Application Testing Mar. 2003 Sept. 2003
s Schools must sign-up in advance to participate inschool testing: Contact COD School Relations and request a school testing
sign-up sheet ([email protected])
s School Testing Guide available on IFAPbeginning in January 2003
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Who Should Participate inSchool Testing?
s Software Vendors modifying software to support the XMLCommon Record are encouraged to test with COD
s Full Participant Schools that use their own softwareproduct are encouraged to test with COD
s The EDExpress product is tested extensively with CODprior to being released to schools; therefore, EDExpressUsers do NOT need to test with COD
s Since most software vendors test with COD on their
schools behalf; schools utilizing a software vendorsproduct do NOT need to test with COD
Schools are encouraged to talk to their vendor about test plansand testing results
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School Testing LessonsLearned
s Plan to participate in manual verification testing prior toparticipating in additional testing phases
s Have a good understanding of SAIG On-Line ScreenManager in order to see that files were sent and received
correctlys Allow at least 2 weeks of setup time from sign-up prior to
starting testing
s Plan and allow time for issue identification, error resolution
and retesting with CODs Be careful to send test files to the correct mailbox and with
the correct testing message classes
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Where can I get moreinformation?
s IFAP Web Site (www.IFAP.ed.gov)
Common Origination and Disbursement page
Announcements and FAQs
COD Technical Reference
s COD Web Site (www.cod.ed.gov)
Daily Processing Updates
School Funding and Processing Information
s Contact COD Customer Service
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How do I obtain accessto the COD Web Site?
s Submit a Security Administrator Request Letteron school or corporate letterhead Security Administrator is responsible for setting up
additional users at your institution
Reporting/Attending school relationships in COD willautomatically allow access to other school codes
s Refer to announcements on IFAP for detailed
instructions and mailing address 6/3/02 - Updated: COD Website Access for Schools 6/3/02 - COD Website Access for Vendors/3rd Party
Servicers
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How do I contact CODCustomer Service?
s Email [email protected]
s Call COD School Relations Center
1-800-4-P-GRANT for Pell Grants
1-800-848-0978 for Direct Loans
Enter Award Year 2002-2003
s COD Web Site (www.cod.ed.gov)
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Session 21 - 42
COD Sessions
s Session 19 Cash Management Overview A-Zs Session 21 Whats New for Direct Loan Processing in
2003-2004?
s Session 22 Whats New for Pell Grant Processing in
2003-2004?
s Session 23 COD and Pell Grants: Updates to Edits andRecord Layouts for 2003-2004
s Session 24 COD and Direct Loan: Updates to Edits andRecord Layouts for 2003-2004
s Session 25 Meet the COD Customer Service Team andGet Answers to Your COD Questions
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COD Sessions
s Session 26 COD: Using the New Web Site
s Session 27 COD Full Participants for 2003-2004
s Session 28 COD and Direct Loans: Balancing the
Bookss Session 29 COD, Pell, and Direct Loans: Funding for
Schools
s Session 58 Tribally Controlled Colleges: Operating as a
Full Participant in the COD environments COD Customer Service Staff are available in the PC Lab
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