Bulletin ID
DLB - 97 - 43
| PublicationDate: 10/1/97 BulletinID: DLB - 97 - 43 October 1997 DLB-97-43 Dear Colleague: Beginning in the Spring of 1998, the Borrower Delinquency Report, which has been developed by the U. S. Department of Education to assist institutions with their default management activities, will be distributed electronically to Direct Loan schools over the Title IV Wide Area Network (Title IV WAN). The report will be distributed under the message classes of EDM499OP and DQBD99OP.DAT. As such, the report will no longer be available in hard copy. Once this process is implemented, the report will be available only in two electronic formats. At that time, Direct Loan schools will be sent another Direct Loan Bulletin advising them that they MUST call the Title IV WAN Customer Service Department at 1-800-615-1189 to request the preferred format for receiving this report. The report will be available in two formats: - 1. REPORT FORMAT (message class EDM499OP) - which is similar to the existing hard copy report currently being received by schools. Be advised that this report will now be in portrait format and lists only four borrowers per page. - 2. DATA FORMAT (message class DQBD99OP.DAT) - which allows the data to be imported into a spreadsheet or database. Schools may choose to receive the report in either format, both formats, or not to receive the report at all. If the school does not request a certain format, the school will automatically receive the REPORT FORMAT. If the school does NOT wish to receive the report, the school must still notify the Title IV WAN Customer Service Department. Be advised that schools that choose NOT TO RECEIVE the report will not be able to receive reports for prior months and will need to sign-up in order to receive reports in the future. The report will be placed in the mailbox of all Direct Loan schools as long as their Title IV WAN mailbox address remains active. Schools using third party servicers to process their Direct Loan data will receive the Borrower Delinquency Report through the third party servicer's mailbox. A school can change its format selection at anytime by calling the Title IV WAN Customer Service Department listed above. Direct Loan schools should still call the CDS Customer Support Group at 301-212-8092 if they have any problems receiving or interpreting the report or its contents. The new report will consist of a detailed listing of borrowers who are between 31 and 270 days delinquent, a detailed listing of borrowers who have defaulted and have been transferred to Debt Collection Services (DCS) during the current month, and a "year-to-date" count of borrowers that transferred to DCS during the calendar year. [This total will be reset to zero every January and will not include loans transferred to DCS because of fraud, false certification or borrower ineligibility.] The report will be sorted by Stafford (subsidized and unsubsidized) and In-School Consolidation loans. Some other enhancements planned for the report are: - Listing the Direct Loan Servicer or DCS "800 number" for all loans being reported as either delinquent (270 days or less) or defaulted (271 days or more). - The ability for schools to retrieve a copy of their Borrower Delinquency Report from their Title IV mailbox for up to 180 days after the report is initially placed in the mailbox. - The social security number, name, address, and telephone number of borrowers who have defaulted during the current reporting month. Presently, the report only provides a monthly count of these borrowers. - Blank detail pages will be eliminated for schools that have no delinquent or no defaulted borrowers for the current month. Only the cover letter and summary pages (with zeros) will be included. If you have any questions, please call the Direct Loan Task Force at (202) 708-9951. Thank you for your continued support of the Direct Loan Program. Sincerely, Joe L. McCormick Chair Direct Loan Task Force |