Bulletin ID
DLB - 99 - 73
| PublicationDate: 12/1/99 BulletinID: DLB - 99 - 73 December 1999 DLB 99-73 Subject: Preparations for Y2K Dear Partner: In order to ensure a smooth transition to the Year 2000 (Y2K), we have developed Y2K risk mitigation and contingency plan options for the Direct Loan Program for the 1999/2000 award year. This bulletin is intended to retransmit information and suggestions that we have provided over the last several months in other ways, primarily through ED's Y2K web site. Please review and consider the following information and suggestions: Ensure that all loan origination records for 1999/2000 have been sent and accepted at the Loan Origination Center (LOC) by 7pm EST, December 29, 1999. This precautionary step will minimize a potential delay in funds due to missing or incorrect loan origination records if a Y2K failure occurs at either the LOC or your school. All loan origination records sent to the LOC after 7pm EST, December 29, 1999, will be acknowledged on January 3, 2000. The LOC will not be available from 7pm EST, December 29, 1999 through January 2, 2000. Encourage borrowers to sign and return promissory notes prior to December 27, 1999. Please be aware that the Grant Administration and Payments System (GAPS) will not be available from 7pm EST on December 29, 1999 through January 2, 2000. In the event of a GAPS Y2K failure, call the GAPS hotline at 1/888/336-8930. For more information about GAPS Y2K contingency plans, refer to http://edcapsrpt:90/. In the event of a Y2K failure at your school, please inform us of the failure by sending a fax to 202/205-2508. If your fax machine is not functioning, please call us at 202/205-6466. Schools unable to request funds or transmit records to initiate the drawdown process should use the attached letter as a template to request funds. Fax it to 202/205-2508. We do not expect Y2K-related problems at the Loan Origination Center. However, we will send a Direct Loan Bulletin if problems do occur. The bulletin will explain the drawdown process for schools relying on the LOC for cash requests. For more information on the Department's Y2K contingency plans, please refer to http://www.ifap.ed.gov/. See Gen Letters 99-41, 99-42, 99-L-219, and 99-G-326, for additional Y2K information about the Direct Loan and other Title IV programs. Thank you for your ongoing partnership in the Direct Loan Program. Sincerely, Margaret E. White Acting Lead, Title IV Delivery Schools Channel Enclosure |