Bulletin ID
DLB - 98 - 21
| PublicationDate: 6/1/98 BulletinID: DLB - 98 - 21 June 1998 DLB-98-21 Subject: Notice of Close Out Letter to School Presidents Dear Colleague: Your school recently received an interim 732-LOS file from the Department of Educations Direct Loan Origination Center (LOC). As stated in Direct Loan Bulletin 98-20, this file reflects all 1995-96 and 1996-97 cash and loan detail records on the LOC database through June 12, 1998, and provides the Department of Educations official ending cash balance for your school as of June 12, 1998. If the interim 732-LOS reflects a positive ending cash balance of $100 or more and/or an unbooked loan balance for your school, the Departments Accounting and Financial Management Service (AFMS) has mailed a letter to the President of your school reminding him or her of the Departments July 31, 1998, processing deadline for the 1995-96 and 1996-97 Direct Loan Program years. If your school has a zero ending cash balance on the 732-LOS and no unbooked loan balance, this letter was not mailed to your school. Special note for schools that participated in the 1994-95 Direct Loan Program years: the official ending cash balance for your school has been calculated by AFMS by adjusting the 732-LOS balance for your school by your Year 1 balance. This adjusted balance will not be reflected in the 732-LOS file but has been taken into consideration regarding any correspondence that may be sent by AFMS to your President. Special note for schools that draw down for other campuses: the official ending cash balance for your school has been calculated by AFMS as the cumulative total for the main drawdown campus plus any branch campuses. This cumulative total will not be reflected in the 732-LOS file but has been taken into consideration regarding any correspondence that may be sent by AFMS to your President. We are providing you with a template of the letter sent to the Presidents of schools with cash balances of $100 or more and/or unbooked loan balances. If you would like a copy of the actual letter sent to your President, you may contact AFMS at 202/205-6466. Additionally, if you have any questions concerning your schools official ending cash balance as of June 12, 1998, please call AFMS at the above number. Thank you for your continued support of the Direct Loan Program. Sincerely, Linda L. Paulsen, Director Joe L. McCormick, Chair Accounting and Financial Direct Loan Task Force Management Service Attachment |