Posted Date:October 22, 2012
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: Changes to Printing Options for Paper MPNs Beginning November 10, 2012
Federal Student Aid encourages schools to have their borrowers complete MPNs electronically via the StudentLoans.gov Web site. And, most schools do direct borrowers to the StudentLoans.gov Web site to complete Master Promissory Notes (MPNs) electronically. However, a small number of schools provide borrowers with paper MPNs to sign. A few others choose to have the Common Origination and Disbursement (COD) System print and mail paper MPNs to their borrowers. In this announcement, we provide information about the discontinuation of the COD System print option.
Beginning November 10, 2012, we will modify the COD System to no longer print or mail paper MPNs to a borrower or school. As a result, a school will see the following impacts for all open award years:
The Promissory Note Print Option on the COD Web site’s School Information page will no longer be available. If a school has this option set to ‘Y’, the COD System will ignore it.
The COD System will no longer print and mail paper MPNs. In addition, we will temporarily suspend sending notifications or follow-up reminders about completing MPNs by e-mail or hard copy mail to borrowers until January 2013.
The COD System will ignore the <PromissoryPrintCode> tag in the Common Record if it is submitted with Direct Loan award information. Note: While the <PromissoryPrintCode> tag will be ignored, the tag will still be returned in the Common Record response.
The Direct Loan Rebuild file will be modified. The value of ‘R’ in the Promissory Note Print Code field will be redefined as “R – Onsite/Other”.
If a borrower would like to complete a paper MPN, a school can choose the following:
Direct borrowers to print a pre-populated MPN from the StudentLoans.gov Web site.
Order blank MPNs (with or without data labels) via the FSAPubs Web site.
Download a blank MPN from the Direct Loans Web site.
Download a blank MPN from the COD Web site.
Note: This option will be available beginning November 10, 2012. More information about this option will be provided in a forthcoming electronic announcement posted on the Information for Financial Aid Professionals (IFAP) Web site.
Produce or program the entire form.
Note: For more information on print specifications, see Volume VI, Section 7 of the 2012-2013 COD Technical Reference.
If you have questions about the information in this announcement, contact the COD School Relations Center at 800/848-0978. You may also e-mail CODSupport@acs-inc.com