Direct Loan Transition Resources
On March 30, 2010, President Barack Obama signed
H.R. 4872, the Health Care
and Education Reconciliation Act of 2010 (HCERA) into law. H.R. 4872
terminates the authority to make or insure new loans under the Federal
Family Education Loan (FFEL) program as of June 30, 2010. Beginning July 1,
2010, all new Stafford, PLUS, and consolidation loans will be made under the
Direct Loan (DL) program.
With schools facing a rapid transition to a new loan program, SLGFA staff are
diligently working to ensure that students have seamless access to federal
student loans beginning July 1, 2010. We know that you will have questions
concerning the transition from the FFEL program to the DL program and what
the transition will mean for you and your students. SLGFA wants to provide
you the resources that ensure your immediate FFEL program needs are met and
to assist in this transition.
Therefore, this Web page can serve as a useful resource to help achieve a
manageable and successful conversion. SLGFA has also implemented an e-mail
address, resources@slgfa.org,
dedicated to answering your questions about summer processing or
transitioning to the DL program.
Industry Resources
SLGFA Resources
Department of Education Resources
Direct Loan Training/Webinars
HEA Legislation
Electronic Announcements
Industry Resources
The National Council of Higher Education Loan Program (NCHELP), National
Association of Student Financial Aid Administrators (NASFAA), Department of
Education, and National Direct Student Loan Coalition (NDSLC) have been
working to provide a host of resources to help schools prepare for
transition to the DL
program. The resources these organizations have developed are below.
Industry-Reported Processing Cutoff Dates: NCHELP compiled this list of
cutoff dates for processing FFEL program loans, as reported by entities in
the FFEL program community. The list, available in an Excel spreadsheet,
contains three tabs: guarantor cutoff dates, lender cutoff dates, and
servicer cutoff dates. You may need to view in full-screen mode to access
the tabs. This document will be periodically updated by NCHELP.
Direct
Loan Transition Q & A for Schools (updated May 11, 2010)
Mapping
Your Future's Online Student Loan Counseling (OSLC) session for Stafford
and Grad PLUS loans meet requirements under both the FFEL program and DL
program. Mapping Your Future recently updated the Stafford and Grad PLUS
counseling sessions to further clarify Direct Loans to those students
completing the counseling. Therefore, while other changes are taking place,
schools currently using Mapping Your Future's OSLC will not have to change
their counseling processes. Mapping Your Future encourages schools to
continue to use OSLC, especially for exit counseling, so students receive
sufficient information about both loan programs before they enter repayment.
More information about school requirements is in the
OSLC User's Guide.
Direct Loan Transition Checklist: NASFAA and the Department of Education
created this checklist to help schools make the transition to the DL
program. The checklist is structured as a series of questions and contains
interactive fields, which allow users to answer questions and save their
work without printing the document.
FFELP and Direct Loan Comparison Chart
Integrated Regs: 34 CFR 685: William D. Ford Federal Direct Loan Program
National Direct Student Loan Coalition (NDSLC) is composed of schools
dedicated to assisting financial aid professionals transitioning to Direct
Lending. NDSLC provides a
Direct Loan Set-Up Brochure with Checklist
and
a list of Direct Loan mentors
who can assist you.
SLGFA Resources
Questions?
SLGFA knows that you will have questions concerning the transition from the
FFEL program to the DL program; therefore, we've implemented
resources@slgfa.org,
dedicated to answering your questions about summer processing or
transitioning to the DL program.
Federal Direct Stafford Loan Limits
SLGFA FFEL Program Processing Update
The following dates and parameters have been adopted by SLGFA to aid your
institution as it prepares to cease originating new FFEL program loans and
begins its transition to the DL program.
To ensure that your loans can be processed by the deadline of Wednesday, June
30, 2010, as established by the HCERA, SLGFA strongly encourages you to have all
your loans sent for guarantee by close of business on Monday, June 21,
2010. For more detailed information, please view the
April
15, 2010 edition of E-Updates.
Summer 2010 Loan
Processing Solutions
SLGFA has developed a guide which outlines some specific items that schools are
encouraged to review as they prepare to create and submit summer loan
certifications. This guide provides important processing timelines as well as
processing solutions for change transactions,
pending loan records, SLGFA Lender Funds disbursements, and more. Contact information is also included in the guide for
those requiring personalized assistance with any of these issues.
Department of Education Resources
You can reach the Department of Education's Direct Loan Servicing Center from 7
a.m. to 7 p.m. (CST) Monday through Friday by calling 888-877-7658.
Getting
Started: Schools New to Direct Loans
Direct Loan Web site includes operational communications and guidance, technical
documents, and tools for administering the DL program.
Direct Loan
Program Frequently Asked Questions for Schools
Direct
Loan Source is the Department of Education's monthly newsletter that
provides updates on the DL program.
Direct Loan Servicing Site for Schools provides resources and reports
designed to help manage the DL program and also includes the ability to look
up borrower account information.
Direct Loan Servicing Site for Borrowers
Direct Loans School Guide consists of seven chapters with additional links to important
resources for participating schools.
Direct Loans School
Guide (all in one) consists of all chapters within one document.
Q & A About the Servicing of Federally-Owned Loans
Calculators and Interest Rates
2010-03-29 — Subject: New Exit Counseling Tool on the National Student Loan
Data System (NSLDS)
On March 21, 2010, the Department of Education enhanced the
NSLDS Student
Access Web site to offer a new exit counseling tool for federal student
loan borrowers in both the FFEL program and DL program. This new tool
provides a single exit counseling session for Direct Loan-only borrowers,
for FFEL-only borrowers, and for borrowers who have received a combination
of loans from both programs.
Servicer Contact Information and Servicer Codes
|
Direct Loan Servicing Center
NSLDS Servicer Code: 00100
NSLDS Name: Direct Loan Servicing Center
Borrower Phone: 800-848-0979
Web: www.dl.ed.gov
School Phone: 888-877-7658
Web: www.dl.ed.gov/schools
|
Nelnet
NSLDS Servicer Code: 700580
NSLDS Name: Dept of ED/Nelnet
Borrower Phone: 888-486-4722
Web: www.nelnet.com
School Phone: 866-463-5638
Web: www.nelnet.com
|
|
Student Loan Servicing Center (ACS)
NSLDS Servicer Code: 700577
NSLDS Name: Dept of ED/ACS
Borrower Phone: 800-508-1378
Web: www.ed-servicing.com
School Phone: 866-938-4750
Web: wwww.ed-servicing.com
|
FedLoan Servicing (PHEAA)
NSLDS Servicer Code: 700579
NSLDS Name: Dept of ED/FedLoan Servicing (PHEAA)
Borrower Phone: 800-699-2908
Web: www.myfedloan.org
School Phone: 800-655-3813
Web: www.myfedloan.org
|
|
Great Lakes Educational Loan Services
NSLDS Servicer Code: 700581
NSLDS Name: Dept of ED/Great Lakes
Borrower Phone: 800-236-4300
Web: www.mygreatlakes.org
School Phone: 888-686-6919
Web: www.mygreatlakes.org
|
Sallie Mae
NSLDS Servicer Code: 700578
NSLDS Name: Dept of ED/Sallie Mae
Borrower Phone: 800-722-1300
Web: www.salliemae.com
School Phone: 888-272-4665
Web:
www.opennet.salliemae.com
|
Direct Loan Training/Webinars
Federal Student Aid's Training for Financial Aid Professional (TFAP) Web site
contains information on current and future training activities and learning
resources.
Direct Loan Training Suite
HEA Legislation
Health Care and Education Reconciliation Act of 2010 (H.R. 4872)
(as passed by the Senate on 03/25/10)
Health Care and Education Reconciliation Act of 2010 (H.R. 4872)
(as amended and passed by the House on 03/25/10)
Blackline of HEA with PL 111-152 Incorporated
HEA Title IV - Parts B, D, G & I
Revised: 03/30/2010, as signed into law
Blackline of HEA with PL 111-152 Incorporated
HEA Title IV - Parts A, C, E, F, H & J; also select portions of Titles VII &
VIII
Revised: 03/30/2010, as signed into law
Blackline of HEA with PL 111-152 Incorporated
HEA Title I - select portions
Revised: 03/30/2010, as signed into law
Electronic Announcements
Electronic Announcements specific to the DL program are available on the
Federal Student Aid Web site. Below you will find Electronic
Announcements that pertain specifically to transitioning to the DL program.
2010-12-17 — COD Processing Update
2010-12-15
— COD System Peak Processing Reminders
2010-12-14 —
Loan Servicing Information - First Quarter's Customer Service Performance
Results
2010-12-10 —
OUTAGE ALERT RESCHEDULED - FAA Access to CPS Online and SAIG Enrollment Web
Site Service Outage Planned for December 19, 2010
2010-12-10 — COD Processing Update
2010-12-06 —
Training Recording - Direct Loan Reconciliation
2010-12-03 — OUTAGE ALERT - FAA Access to CPS Online and SAIG Enrollment
Web Site Service Outage Planned for December 12, 2010
2010-12-03 — COD Processing Update
2010-11-26 —
Approval of Military Service Deferment/Post-Active Duty Student Deferment
Request Form
2010-11-23 —
Direct Loan Initiative Planned for November - December 2010
2010-11-22 — 2011-2012 COD Technical Reference (November 2010 Final)
2010-11-19 — COD Processing Update
2010-11-18 — Issue with NSLDS School Repayment Information Loan Detail
Report (DRC015)
2010-11-18 — COD School Testing for the 2011-2012 Award Year
2010-11-18 — COD Computer-Based Training - Final Ten Modules Now
Available
2010-11-17 — Loan Servicing Information - Quarterly Customer
Satisfaction Surveys Begin December 1, 2010
2010-11-12 — COD Processing Update
2010-11-05 — COD Processing Update
2010-11-04 —
Webinar Recordings - Direct Loan Webinar Training Suite
2010-10-29 —
Webinar Recordings - Foreign School Direct Loan Training
2010-10-29 — COD Processing Update
2010-10-22 — COD Processing Update
2010-10-26 —
Webinar Recording - Direct Loan Reconciliation
2010-10-22 — COD Processing Update
2010-10-20 — COD
Computer-Based Training
2010-10-15 — COD Processing Update
2010-10-08 — COD Processing Update
2010-10-08 — Total and Permanent Disability Discharge Information - New
Servicer Effective October 1, 2010 (Clarification Note Added October 18,
2010)
2010-10-08 — COD Processing Update
2010-10-01
— Additional COD System Implementation for 2010-2011 Award Year
2010-10-01
— COD Processing Update
2010-09-30
— 2011-2012 COD Technical Reference (September 2010 Draft)
2010-09-30
— 2010-2011 COD Technical Reference (September 2010 Update)
2010-09-30 — COD Common Record XML Schema Version 3.0d Now Available
2010-09-30 — 2010-2011 COD Technical Reference (September 2010 Update)
2010-09-30 — 2011-2012 COD Technical Reference (September 2010 Draft)
2010-09-30 — COD Common Record XML Schema Version 3.0d
2010-09-27
— Volume 4 - Processing Aid & Managing FSA Funds [2010-2011 Federal Student
Aid Handbook]
2010-09-24 — COD Processing Update
2010-09-23 — Supplemental Information about Direct PLUS Loan Endorser
Processing
2010-09-22 — EDExpress for Windows 2011-2012 Packaging Technical
Reference Available on FSAdownload Web Site
2010-09-16 — COD Processing Update
2010-09-14 — Federal Direct Consolidation Loan Program Application
Documents (KA)
2010-09-14 — Upcoming SAIG Message Class File Update
2010-09-13 —
EDExpress Online Training - Final Release of EDExpress Online Training for
2010-2011
2010-09-10 — COD Processing Update
2010-09-07 — Preliminary Information about COD System Implementation
2011-2012 Award Year
2010-09-03 — COD Processing Update
2010-09-03 — Loan Servicing Information - Quarterly Customer
Satisfaction Surveys Begin September 7, 2010
2010-09-02 — Impact on Funds Availability for Campus-Based, ACG,
National SMART Grant, Pell Grant, TEACH Grant, and Direct Loan Programs (G5
and COD System)
2010-08-31 — FY 2008 Official Cohort Default Rates Release
Scheduled for September 13, 2010
2010-08-27 — COD Processing Update
2010-08-26 — New NSLDS Delinquent Borrower Report (DELQ01) and Web Page
for Schools
2010-08-20 — COD Processing Update
2010-08-13 — COD Processing Update
2010-08-13 — Total and Permanent Disability Discharge Information -
Transition to New Servicer Planned for October 1, 2010
2010-08-12 —
Webinar Recordings - Direct Loan Business Officer Training
2010-08-11
— COD Technical Reference (August 2010 Update)
2010-08-06 — COD Processing Update
2010-07-30 — COD Processing Update
2010-07-23 — COD Processing Update
2010-07-23 — Federal Student Aid Customer Service Center Information
2010-07-23 — Updated Guidance on Making Direct Loan Refunds of Cash
2010-07-16 — COD Processing Update
2010-07-16 — Reminder of Origination Fee Reduction for Direct Subsidized
Loans and Direct Unsubsidized Loans
2010-07-14 — Loan Servicing Information - Sallie Mae Begins
Servicing Direct Loans
2010-07-09 — COD Processing Update
2010-07-09 — Availability of Direct Loan (DL) Tools for Windows,
Release 10.0
2010-07-08 — Additional 2008-2009 Direct Loan Program Year Closeout
Information
2010-07-04 — Loan Servicing Information - Great Lakes Educational Loan
Services, Inc. Begins Servicing Direct Loans
2010-07-02 — COD Processing Update
2010-06-30 — Loan Servicing Information - FedLoan Servicing (PHEAA)
Begins Servicing Direct Loans
2010-06-23 — Loan Servicing Information - Nelnet Begins Servicing Direct
Loans
GEN-10-10 — Implementation Guidance for the Deadline for Making Loans
under the Federal Family Education Loan (FFEL) Program
2010-06-03 —
Loan Servicing Information - Delinquency Prevention Activities Offered by
FedLoan Servicing (PHEAA), Great Lakes Educational Loan Services, Inc.,
Nelnet and Sallie Mae
2010-05-28 — Supplemental Information - Online Direct Loan Entrance
Counseling Functionality
ANN-10-13 — Training Recording: Using EdExpress to Process Direct Loans
2010-04-23 — Enhancements to Direct Loan PLUS Processing Via
StudentLoans.gov Web Site Available April 25, 2010
GEN-10-06 — Subject: Support for Schools Transitioning to Direct
Loans
2010-04-12 —
Subject: FSA Chief Operating Officer Bill Taggart's Letter to Financial Aid
Administrators of Domestic Schools Participating in the FFEL Program
2010-03-29 — Subject: New Exit Counseling Tool on the National Student
Loan Data System (NSLDS)