Posted Date:March 19, 2010
| Author: | William Leith, Service Director, Program Management, Federal Student Aid |
Subject: Enhancements to Direct Loan Functionality Via New StudentLoans.gov Web Site (Updated April 23, 2010)
Note: On April 23, 2010, we updated this posting by removing the attachment titled "Direct Loan Electronic MPN and Direct Loan PLUS Processing Changes for 2010-2011." We have reiterated and expanded the information from the attachment as part of an April 23, 2010 Electronic Announcement.
As explained in a March 19, 2010 Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site, during the period March 26-27, 2010, we plan to implement additional Common Origination and Disbursement (COD) System functionality. Part of the implementation makes significant changes to several components of William D. Ford Federal Direct Loan (Direct Loan) award processing.
In the two attachments to this announcement, we provide the following important information related to these changes:
- StudentLoans.gov Web Site Overview
- Online Direct Loan Entrance Counseling
- Direct Loan Electronic Master Promissory Note (MPN) Web Site Retirement
- Enhancements to Direct PLUS Loan Processing (multiple subsections)
- School Options Page Updates
Note: The new functionality to enhance Direct PLUS Loan processing will be implemented in April 2010, and we will notify schools when this functionality is available through another Electronic Announcement posted on the IFAP Web site. In the meantime, the COD System will continue to accept Direct PLUS Loan awards and process credit checks under current processing rules. Borrowers will be able to complete the Direct PLUS Loan MPN via the StudentLoans.gov Web site.
Contact Information
If you have questions about this announcement or its attachments, contact the COD School Relations Center at 800/848-0978. You may also e-mail CODSupport@acs-inc.com.