Bulletin ID
DLB - 99 - 59
| PublicationDate: 9/1/99 BulletinID: DLB - 99 - 59 September 1999 DLB-99-59 Subject: Online Exit Counseling site Dear Partner, We are pleased to announce that Direct Loan Servicing has added a new on-line Exit Counseling feature to its current web site. The Direct Loan On-line Exit Counseling Session provides information to help borrowers understand interest rate calculations, payment methods, and deferment and forbearance options. Borrowers can also update address information and select a repayment plan. To access this feature on the servicing web site a borrower must have an Electronic Access Code (EAC), now called a PIN. The PIN is a personal identifier that lets borrowers access personal information on other U.S. Department of Education web sites as well. We have preselected approximately 600,000 borrowers who may be eligible to participate in Exit Counseling and have mailed them a PIN and letter explaining its use. We selected all borrowers who are currently in school and will, according to our records, be leaving school within the next year. We have attached a copy of this letter for your reference. The PIN mailing began September 24, 1999 and will continue through the month of October. Currently, borrowers who were not selected to receive a PIN or do not already have one will not be able to request a PIN until November 30, 1999, as this functionality is still being enhanced. In the letter to students we stated that schools would provide specific information on the preferred method of completing the Exit Counseling session. Additionally, we caution students against printing and submitting the "exit counseling certification" (the Borrower Information page and the Rights & Responsibilities Summary Checklist), unless they have been directed to do so by their school. If you wish, this certification can be used as your official record of the borrower's successful completion of Exit Counseling. Future enhancements for the servicing web site include the ability to request a PIN while on-line, a servicer repayment calculator that uses borrower specific information, on-line borrower history and interactive deferment and forbearance counseling. We also look forward to discussions on how you would like to receive borrower "exit counseling certifications" electronically. We will demonstrate the new web site function at the EAC conferences this fall and invite your comments. A demonstration site that you can view from your personal computer is being developed and should be ready by late October 1999. We will provide information on that site in a future bulletin. Thank you for your ongoing partnership in the Direct Loan Program. Sincerely, Margaret E. White Acting Lead Title IV Delivery Schools Channel lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll lllllll First Name MI Last Name MM/DD/CCYY C/o Name Street Address 1 ACCOUNT#: xxx-xx-xxxx City, State Code Zip Code Your PIN Is In The Mail You have been selected to receive a U.S. Department of Education Electronic Access Code (EAC) (now referred to as a PIN) from Federal Student Aid Programs. You may have already received your PIN. If not, you should receive it in a separate mailing within 3-4 weeks. PLEASE RETAIN THIS PIN FOR YOUR RECORDS. If you do not receive your PIN within this timeframe, please visit the PIN web site at http://www.pin.ed.gov or call 1-800-801-0576. Hearing-impaired individuals who have access to a TDD (Telecommunications Device for the Deaf) can call the following number: 1-800-511-5806. This PIN gives you access to your personal information on various U.S. Department of Education systems over the Internet. You may use your PIN to access your account information on the Direct Loan Servicing System web site, which provides information you need about your Direct Loan(s). Using Your PIN IS As Wasy 1-2-3 1. Visit the Direct Loan Servicing System web site! Our address is: http://www.dlservicer.ed.gov 2. To access your personal account information, enter your PIN when requested. There is a lot of important account information available, right at your fingertips! You should review and update your address information, if necessary, to ensure you receive important mailings about your account. 3. You may even access the Direct Loan On-line Exit Counseling Session from the Account Information portion of this web site. The Exit Counseling Session gives you information to help you understand repayment options, interest rate calculations, payment methods, deferment and forbearance options, and much more. Experiment with the Exit Counseling quiz--you will be asked questions about information that you should already know about your Direct Loan(s). You should select the repayment plan that you will use to repay your Direct Loan(s). Your school is required to provide Exit Counseling to students before they graduate, withdraw, or otherwise cease to attend at least half-time and may elect to use this web site for that counseling. At the appropriate time, you will receive information from your school on completing the Exit Counseling requirement. If you have not already completed Exit Counseling, your school will inform you of its method of administering that requirement. If your school directs you to use the Direct Loan On-line Exit Counseling Session, you must print and submit to your school the "exit counseling certification" created at the end of your session. Do not submit the certification to your school if the school does not tell you to use Direct Loan On-line Exit Counseling. Enclosure |