Bulletin ID
DLB - 96 - 17
| PublicationDate: 9/1/96 BulletinID: DLB - 96 - 17 September 1996 DLB-96-17 SUMMARY: Updated Information on the Final Payments for Origination Services Dear Colleague: In the July 1996 Direct Loans Bulletin (DLB-96-11), we informed you that the final Payments for Origination Services (POS) to schools would be made in September. The September payment is being processed now and should arrive at your school within a few weeks. This payment covers all loans originated on or before April 26, 1996, and reconciled by August 30, 1996. Due to a variety of reasons, we have decided to make one more POS payment. We will be using the same criteria stated in DLB-96-11. POS will be calculated for loans that met ONE of the following on or before April 26, 1996: 1) the origination record was received by the Loan Origination Center; or 2) the promissory note was received by the Loan Origination Center; or 3) the first disbursement was made. Most loan records that meet the above criteria should already be reconciled. However, if your school has loan records from this period that have not been reconciled, we encourage you to reconcile these loans as soon as possible and plan to be completely reconciled by October 30, 1996. This will ensure the receipt of POS for as many loans as possible. We will let you know as soon as the actual date for the final POS payments is determined. If you have any questions regarding POS or the reconciling of loan records, please contact your Regional Direct Loan Account Manager. Sincerely, Diane Voigt Chair, Direct Loan Task Force |