Posted Date:June 24, 2011
|Author:||Jana Hernandes, Service Director, Operations, Federal Student Aid|
Subject: Loan Servicing Information - Direct Loan Servicing Center (ACS) NSLDS Reporting Issue Update
In a May 27, 2011 Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site, we provided an update on the completion of the initial wave of enhanced reporting of William D. Ford Federal Direct Loan (Direct Loan) Program loans serviced by the Direct Loan Servicing Center (ACS) under its new ED Servicer code, 583. The reporting was completed on May 29, 2011.
Also in the May 27th announcement, we reported an issue with how 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 explained that we had ceased acceptance of the inaccurate data so the issue would not occur going forward and were implementing a plan to correct the inaccurate data in the NSLDS.
To date, we have corrected the inaccurate disbursement data in the NSLDS for some, but not all, borrowers. We regret the ongoing inconvenience this is causing schools and the remaining affected borrowers and are diligently working with the Direct Loan Servicing Center (ACS) to fully remedy the situation. We will inform the community as soon as we correct the disbursement data for all borrowers. Monitor the IFAP Web site for this forthcoming announcement.
We continue to understand that some schools will 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 will continue to provide assistance to schools until the issue is resolved.
If you have questions about how information has been reported to and 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.