Bulletin ID
DLB - 98 - 11
| PublicationDate: 3/1/98 BulletinID: DLB - 98 - 11 March 1998 DLB-98-11 Subject: Resolving Processing Issues Dear Colleague: The purpose of this letter is to provide updated guidance on resolving processing problems your school has at the Loan Origination Center (LOC). In Transition Bulletin #17, dated April 21, 1997, and Direct Loan Bulletin 97-52, dated December 1997, we provided a form for your use in requesting approval for disbursing a loan after the end of the 90-day late disbursement period. The form was used to record cases where, due to the transition to the new LOC, promissory note acknowledgments were not processed in a timely manner. The LOC has now been in operation for over one year and acknowledging over 99 percent of promissory notes in a timely manner. We are, therefore, discontinuing use of the form entitled: Request for Authorization to Make a Late Disbursement Beyond the 90-Day Late Disbursement Period. In all situations now, if your school is experiencing Direct Loan processing problems, please contact your Customer Service Representative (CSR) at the LOC at 800/848-0978. If your problem cannot be resolved with the LOC or you require additional assistance, please contact your regional Client Account Manager. Thank you for your continued support of the Direct Loan Program. Sincerely, Joe L. McCormick Chair Direct Loan Task Force |