Posted Date:May 27, 2011
|Author:||Jana Hernandes, Service Director, Operations, Federal Student Aid|
Subject: Loan Servicing Information - Enhanced Direct Loan Servicing Center (ACS) Reporting to NSLDS Further Update
In an April 22, 2011 Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site, we provided the community with an update on the reporting process enhancements for William D. Ford Federal Direct Loan (Direct Loan) Program loans serviced by the Direct Loan Servicing Center (ACS). We informed the community that enhanced Direct Loan Servicing Center (ACS) reporting to the National Student Loan Data System (NSLDS) under the new ED Servicer code, 583, had begun and was in process. We also explained that temporarily, during the initial wave of enhanced reporting, updates to existing Direct Loans and initial entry of new Direct Loans assigned to this servicer would take longer than usual to appear in the NSLDS.
At this time, we are pleased to report the anticipated completion of the initial wave of enhanced reporting by May 29, 2011. We regret the inconvenience any associated reporting delays may have caused schools and borrowers and appreciate the community’s patience and understanding as we completed this work.
In the April 22nd announcement, we also informed the community of two associated data presentation improvements for the NSLDS Professional Access and NSLDS Student Access Web sites. For the loan amount information improvement, we explained that loan amounts for existing and new Direct Loans assigned to the Direct Loan Servicing Center (ACS) would now reflect downward adjustments schools have made or will make via the Common Origination and Disbursement (COD) System. Recently, however, we identified an issue with how the downward adjustment information has been reported by the Direct Loan Servicing Center (ACS) to the NSLDS. This data reporting issue has resulted in the inaccurate calculation of aggregate loan limit amounts for many borrowers.
We regret any inconvenience the data reporting issue may cause schools and borrowers and are diligently working to remedy the situation. We have ceased acceptance of the inaccurate data so the issue will not occur going forward. In addition, we are working to correct the inaccurate data in the NSLDS as expeditiously as possible. We will provide status updates, as needed, through subsequent announcements on the IFAP Web site.
We understand that some schools will possibly need to make award and disbursement decisions before we are able to correct the inaccurate data in the NSLDS. In these cases, we refer schools to guidance provided in Dear Colleague Letter GEN-96-13. Guidance provided in Q&A 14 of Attachment B advises schools when it is appropriate to use information about a borrower’s aggregate loan amounts that a school has in its possession instead of the borrower’s aggregate loan amounts in the NSLDS. Our NSLDS Customer Support Center is also available to assist schools in this situation; the center’s contact information is provided below.
We appreciate the community’s understanding and patience as we address the data reporting issue explained in this announcement. Again, we regret its occurrence and are working to remedy all inaccurate data as expeditiously as possible.
If y all inaccurate data as expeditiously as possible.
If ynd is reflected in the NSLDS, contact the NSLDS Customer Support Center at 800/999-8219. You may also e-mail email@example.com.
If you have general questions about Direct Loans assigned to the Direct Loan Servicing Center (ACS), contact the Direct Loan Servicing Center (ACS) – School Services at 888/877-7658.