Bulletin ID
DLB - 99 - 50
| PublicationDate: 7/1/99 BulletinID: DLB - 99 - 50 July 1999 DLB 99-50 Subject: Further Information on Direct Loan 1997-98 Academic Year Closeout Dear Partner: Thank you for the great job you are doing to close out the 1997-98 Academic Year. To assist you further in that process, we are providing the following information and suggestions. 732 Report Please review the 732 report that you received from the Loan Origination Center (LOC) last week as soon as possible. This report contained all 1997-98 records processed through July 16, 1999. Report any discrepancies to the LOC immediately. Final 732 Report and Unresolved Items After the LOC completes processing of all 1997-98 data submitted through August 2, 1999, it will produce a final 732 report for that year and send it to all schools by August 16, 1999. After you review that report thoroughly you may find unresolved items you wish to discuss with the Accounting & Financial Management Service (AFMS). Please call AFMSÂ’ Direct Loan Operations Team at 202/205-6466 between August 16 and August 31, 1999 about such items. Reallocating Drawdowns Please remember that if you have drawdowns recorded 1997-98 in GAPS and at the LOC that should be recorded in a subsequent year, you must reallocate those drawdowns to the correct subsequent year immediately. The LOC cannot reallocate funds in GAPS for Option 2/Level 1 schools. Again, thank you for your ongoing efforts to close Academic Year 1997-98 on time. Sincerely, Margaret E. White Chair Direct Loan Task Force |