powerfaids 2014/2015 direct loan...

PowerFAIDS

2014/2015 Direct Loan

Processing

Carri DiOnne

Senior Product Analyst

The College Board

Agenda

• Resources

• Direct Loan Lifecycle

• Award

• Process Aid

• Reconcile Information

• Look To The Future

Resources

• Release Notes

• Forum Postings

• [email protected]

• [email protected]

• Training

• PowerFAIDS Community site:

http://community.collegeboard.com/docs/DOC-1415

• IFAP: http://www.ifap.ed.gov/ifap/

mailto:[email protected]

mailto:[email protected]






http://www.ifap.ed.gov/ifap/



Direct Loan Lifecycle

Set and Manage Policies and Procedures

Award

Process Aid

Reconcile Information Co

mm

un

icate

Award

Populate/Update Award Data

Awards Direct Loan Data/ Loans view and Packaging/

Awards Data view data fields

Packaged Before

PowerFAIDS 19.3

• Updated manually

• Updated by the Batch Wizard/ Update Federal Awards

Data

Packaged After

PowerFAIDS 19.3

• PowerFAIDS automatically populates Direct Loan award

information when you package a Direct Loan award

• If you change the default field values after packaging

Direct Loan awards, existing Direct Loan awards will not

reflect the change

Adjusted on

Packaging after

PowerFAIDS 19.3

• The Academic Year begin and end date fields and the

Loan Period begin and end date fields are dynamic

(will change when you adjust existing Direct Loan awards

by redistributing the award amounts)

• These fields can be locked at PowerFAIDS 19.3

Award

Populate/Update Award Data, cont.

PowerFAIDS 19.0 and 19.1 Funds Parameter

Direct Loan Data/Loans view

Award


PowerFAIDS 19.2

Award Year Profile/Academic view/Degree area

(note vertical scroll bar)

Award


• PowerFAIDS 19.2


Award


• PowerFAIDS 19.2

Packaging/Awards Data view

Award


PowerFAIDS 19.3

Direct Loan Data/

Loans view

Award Year Profile/

Academic view/

Degree area

Award


PowerFAIDS 19.3

Award Year Profile/POEs view


Award


PowerFAIDS 19.3


Award Year Profile/POEs view

Award


PowerFAIDS 19.3

Packaging/

Awards Data view

Award Year Profile/

Academic view/

Degree (use Scroll)

Award


• Batch Wizard/Update Federal Award Data

• The Lock State specifies

whether the field is

locked or unlocked after

the batch process has

been executed

• Locked fields are not

updated by the Batch

Wizard process unless

you set the Lock State to

Unlocked

Award



• Restricted fields

• Grayed out on the Packaging/Awards Data view

• Updated by the Update Federal Award Data Batch

Wizard process in Student module

Award



When you: PowerFAIDS does this:

Enter a value in the Batch Wizard data field

AND

Leave the field’s Lock State blank

Only updates the field if the field is

unlocked, and leaves the field unlocked


AND

Set the field’s Lock State to Locked

Only updates the field if the field is

unlocked, then locks the field

Leave the Batch Wizard data field blank

AND

Set the field’s Lock State to Locked

Locks the field without updating the field

Leave the Batch Wizard data field blank

AND

Set the field’s Lock State to Unlocked

Unlocks the field without updating the field


AND

Set the field’s Lock State to Unlocked

Updates unlocked fields and locked fields,

and leaves all updated fields unlocked

Process Aid

Report Awards

Import Response

Authorize and Report Disbursements

Process Aid

Report Awards

• Originate loan and transmit to COD

• Origination establishes

the record in COD

• Report originations as

close as possible to the

first disbursement date

of the loan

• Do not originate loans

with scheduled first

disbursement date

on/after 10/1/14 until

after loading

PowerFAIDS 19.4

Process Aid

Report Awards, cont.

• Managing Loan Changes

• All changes are communicated via the COD Reporting

Maintenance flow

• Accommodates multiple disbursement level

transactions for the same disbursement in the same file

(exception to this rule is the crossover changes when

loan fees are driven based off of a loan’s first

disbursement)

• Accommodates Award level changes

• New system edits to support comparison fields

System Message Correct the System Edit

Published Program Length is missing or invalid. Direct Loan Data/Loans view

Published Program Type is missing or invalid. Direct Loan Data/Loans view

Programs Academic Year in Weeks is missing

or invalid.


Special Programs is missing or invalid. Direct Loan Data/Loans view

Program Credential Level is missing or invalid. Direct Loan Data/Loans view

Enrollment Status is missing or invalid. Packaging/Awards Data view

CIP Code is missing or invalid. Packaging/Awards Data view

Payment Period Start Date is missing or invalid. Packaging/Awards Data view

The Payment Period Start Date must be greater

than or equal to the Financial Award Begin

Date.


Process Aid

Import Response

Data Integration/COD Response Import

• Direct Loan Response

(CRDL)

• Direct Loan Web

Response (CRWB)

• Booking Notification

(CRBN)

• SULA Calculation

Acknowledgement

Response (CRSU)

• Credit Decision Override

(CRCO)

• MPN Response (CRPN)

• Direct Loan PLUS

Application (CRSP)

• Entrance Counseling

and Exit Counseling

(CREC)

Process Aid

Import Response, cont.

COD

Reject

System Message Data Level

202 Cannot submit more than one tag for Published Program Length

Award Level

203 Incorrect Special Program submitted Award Level

204 Incorrect Program CIP Code submitted Disbursement Level

205 Payment Period Start Date is outside the Award Begin and End dates

Award and Disbursement Level

206 The Remaining Subsidized Eligibility Period is less than zero for this award

Award Level

207 The Remaining Subsidized Eligibility Period is less than zero for this award after this disbursement was approved from the Action Queue

Disbursement Level

208 Incorrect Student Level Code submitted Award Level

209 Invalid value submitted for Weeks Programs Academic Year

Award Level

Process Aid


• Direct Loan Data/

Subsidized Usage Period Information view

Process Aid


• Direct Loan Data/Preferences view

Process Aid

Authorize and Report Disbursements

Authorize disbursements to Business Office

Report disbursements to COD

Make adjustments

Process Aid

Authorize and Report Disbursements, cont.

Direct Loan Disbursement Authorization (DLDA) Export

• Informs Business Office

when disbursements are

ready for posting

• Reports net disbursement

amounts

• Customize disbursement

rules

• Override system

disbursement rules

Process Aid


Direct Loan Disbursement Authorization

DLDA Export – Initial or Reinstated

Evaluation Logic when COD Disbursement Date Is Populated

As Of Date Is Disbursement included in

the file

Date reported as the

Disbursement Date

COD Disbursement Date

field updated?

On or after, the COD

Disbursement Date

Yes As Of Date Yes

Before the COD

Disbursement Date

No N\A N\A

Process Aid



DLDA Export – Initial or Reinstated

Evaluation Logic when COD Disbursement Date Is Not Populated


the file


Disbursement Date


field updated?

On or after, the Scheduled

Disbursement Date

Yes As Of Date Yes

Before the Scheduled

Disbursement Date

No N\A N\A

Process Aid



DLDA Export – Disbursement Adjustment

Evaluation Logic when COD Disbursement Date Is Populated


the file


Disbursement Date


field updated?

On or after, the COD

Disbursement Date

Yes As Of Date No

Before the COD

Disbursement Date

No N\A N\A

Process Aid


COD Reporting: Direct Loan Maintenance Export

• Report changes to

previously reported

Direct Loans

• Reports actual Direct

Loan disbursements

• Option to lock Academic

Year Begin and End

dates

Process Aid


COD Reporting: Direct Loan Maintenance

Update and Disburse

COD Disbursement Request Export

Evaluation Logic when COD Disbursement Date is Populated

As Of Date Is Disbursement included

in the file


Disbursement Date


field updated?

On, after, or within 7

days before the COD

Disbursement Date

Yes COD Disbursement Date No

8 or more days before

the COD Disbursement

Date

No N\A N\A

Process Aid


COD Reporting: Direct Loan Maintenance

Update and Disburse

COD Disbursement Request Export

Evaluation Logic when COD Disbursement Date Is Not Populated

As Of Date Is Disbursement included

in the file


Disbursement Date


field updated?

On or after the Scheduled Date

Yes As Of Date Yes; the As Of Date is posted in the COD Disbursement Date field.

Within 7 days before the Scheduled Date

Yes Scheduled Date Yes; the Scheduled Date is posted in the COD Disbursement Date field.

8 or more days before the Scheduled Date

No N\A N\A

Process Aid


• Make Adjustments

• All changes are communicated to COD via the

PowerFAIDS COD Reporting Maintenance flow

• Accommodates multiple disbursement level

transactions for the same disbursement in the same file

(except crossover changes when loan fees are driven

by a loan’s first disbursement)

• Accommodates award level changes

Process Aid

Making Adjustments

Before COD Origination After COD Origination

1. N/A 1. Change the loan Export Status to

Pending-Pre Guarantee

(Direct Loan Data > Loans view)

2. Navigate to the corresponding PowerFAIDS view and update the data • Packaging > Awards Data

• Direct Loan Data > Loans

• Award Year Profile > Academic Profile

3. Navigate to Data Integration >

COD Reporting > Origination export

3. Navigate to Data Integration >

COD Reporting > Maintenance export

4. Export the COD Origination file 4. Export the COD Maintenance file

5. Transmit the COD Origination file to

COD (via EDConnect)

5. Transmit the COD Maintenance file to

COD (via EDConnect)

6. Resume normal processing

Process Aid

Making Adjustments, cont.

Example 1: Fall/Spring loan

Increase Spring due to grade level change

1. Direct Loan Data/Loans view

a) Change the loan Export Status to Pending-Pre Guarantee

b) Update Grade Level to reflect change

2. Packaging/Awards Data view

a) Increase award and disbursement distribution amounts

3. Data Integration/COD Reporting/Maintenance

export

4. Transmit COD Maintenance file to COD (via

EDConnect)

Process Aid


Example 2: Fall/Spring loan – add Summer

disbursement



b) Loan Period and Academic Year will update when adjustment is

made to Packaging


a) Increase award and add summer disbursement distribution

amount

3. Data Integration/COD Reporting/Maintenance export


EDConnect)

Process Aid


Example 3: Fall/Spring loan - student does not attend

Spring (cancel Spring disbursement)



b) Loan Period will update when adjustment is made to Packaging


a) Decrease award and disbursement distribution amounts

b) COD Disbursement Date must be within 180 days of Loan Period End date

c) Payment Period Start Date must be within the Loan Period


4. Transmit the COD Maintenance file to COD (via EDConnect)

Process Aid


Example 4: Fall Loan (previously adjusted - see prior

example), Student did not attend Spring, but returns for

Summer (processes with 2 Loans)

Loan 1: Fall Loan

1. Award Year Profile/POEs – add the Summer POE



b) Update Academic Year to reflect Fall/Spring/Summer time period



EDConnect)

Process Aid


Example 4, continued

Loan 2: Add Summer Loan


a) Award Summer loan

b) Correct disbursement distribution if necessary

2. Data Integration/COD Reporting/Origination export

3. Transmit COD Origination file to COD (via EDConnect)

Reconcile Information

• School Accounts Statement (SAS)

• Business Office Disbursement Reconciliation

import

• PowerFAIDS Standard Report: Direct Loan

Reconciliation Report

• Return to Title IV calculation

• Direct Loan Rebuild file import

Look To The Future

• October 1 loan fee changes

• Update award and disbursement level data with

source data during Origination and Maintenance

exports

• Special Program

• Default to “Not Applicable” when blank

• Export exception when equal to “P” for Preparatory

Coursework Graduate Professional Program

Questions

Session Evaluation

Using the Session Number, please complete the

session evaluation by:

1. Scanning the QR code and submitting the

online evaluation:

2. Submitting the online evaluation at:

https://www.surveymonkey.com/s/2014PFConf

Session

3. Returning the paper evaluation

Trademarks

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All other company and product names may be trademarks of their respective owners.

Screen shot(s) reprinted by permission from Microsoft Corporation.

Copyright © 2014 by The College Board. All rights reserved.

The College Board has prepared this document for use only by personnel, licensees, and customers. The

information contained herein is protected by copyright. No part of this document may be reproduced,

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permission from the College Board.

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OMISSIONS CONTAINED HEREIN; NOR FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES RESULTING

FROM THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

This publication contains material related to the Federal Title IV student aid programs. While we believe that

the information contained herein is accurate and factual, this publication has not been reviewed or approved by

the U.S. Department of Education.

The College Board reserves the right to revise this document and/or change product features or specifications

without advance notice.

powerfaids 2014/2015 direct loan...

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