Posted Date:April 23, 2010
| Author: | William Leith, Service Director, Program Management, Federal Student Aid |
Subject: Enhancements to Direct PLUS Loan Processing Via StudentLoans.gov Web Site Available April 25, 2010
In a March 19, 2010 Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site, we informed the community of several enhancements to Direct PLUS Loan processing, but also advised the new functionality would not be implemented until April 2010. Within the past week, we received Office of Management and Budget (OMB) approval of the new Direct PLUS Loan Request. On April 25, 2010, we plan to update the StudentLoans.gov Web site to include functionality that allows Direct PLUS Loan borrowers (both parents and graduate/professional students) to complete a request for a Direct PLUS Loan and initiate a credit check online.
Common Origination and Disbursement (COD) System and Web Site Outage Information
We will add the Direct PLUS Loan processing functionality during the scheduled maintenance window on Sunday, April 25, 2010. The impact to users is outlined below.
Users will not be able to submit or retrieve data via the COD Web site between 1:30 A.M. and 9:00 A.M. (ET).
An individual will not be able to complete online Direct Loan Entrance Counseling, complete a new Master Promissory Note (MPN) electronically, or retrieve an existing MPN that was completed electronically via the StudentLoans.gov Web site between 1:30 A.M. and 11:00 A.M. (ET).
An individual will not be able to complete TEACH Grant Initial and Subsequent Counseling, complete a new TEACH Grant Agreement to Serve (ATS), or retrieve an existing ATS via the TEACH Grant Web site between 1:30 A.M. and 11:00 A.M. (ET).
Between 1:30 A.M. and 11:00 A.M (ET), batches submitted by schools via the Student Aid Internet Gateway (SAIG) will be held or schools will receive an error message informing them that the SAIG is unavailable and that the data must be transmitted at a later time.
Direct PLUS Loan Processing Enhancements
In an attachment titled "Enhancements to Direct PLUS Loan Processing," we provide detailed information about the new online Direct PLUS Loan process. This document reiterates and expands upon previously provided information. It supersedes the attachment to our March 19, 2010 Electronic Announcement about the StudentLoans.gov Web site.
Schools can also learn more about the Direct PLUS Loan processing enhancements via a live Internet webinar titled "What's New for Direct Loans." This webinar is scheduled for early May 2010 and June 2010. Detailed information will be provided in a forthcoming training announcement posted on the IFAP Web site.
Contact Information
If you have questions about the new Direct PLUS Loan process or the information in this announcement, contact the COD School Relations Center at 800/848-0978. You may also e-mail CODSupport@acs-inc.com.