Bulletin ID
DLB - 00 - 16
| PublicationDate: 4/1/2000 BulletinID: DLB - 00 - 16 April 2000 DLB 00-16 Subject: Direct Loan Origination Web Site Dear Partner: We are pleased to announce the implementation of the new Direct Loan origination web site on April 3, 2000. The site is designed to help you monitor origination and disbursement records transmitted to the Loan Origination Center (LOC). Web Site Features You may visit the site at https://lo-online.ed.gov. There you will find a variety of information, including: System Overview that gives general information about the web site Glossary of Terms developed to assist in communication between you and the LOC Frequently Asked Questions (FAQ) Contact Us option used to share feedback on the web site and for technical assistance Announcement/ Press Releases The Other Links section containing hyperlinks to other Department of Education web sites Registration Procedures To access data about the status of batches, or information on borrowers and loans, you must register. To do so go to the FAQ section where the registration process is explained. The School's Financial Aid Officer (SFAO) will provide his/her Customer Service Representative (CSR) with a completed registration form obtained from the web site. We will do the registrations as quickly as possible. The CSR will register the SFAO and will notify him/her of his/her login ID and password. We expect minor delays in the first few weeks, as many people will be trying to register at the same time. After the SFAO is registered, s/he has the capability to add other users at that school to the site. Users are granted access based on roles within the site. A SFAO can add an Assistant Financial Aid Officer (AFAO), an Assistant Financial Aid Officer with Credit Check capability (CAFAO), or another SFAO. On-line help is available to explain each role. Since your school will be solely responsible for the use of the site by your school, you need to understand each role. We suggest limiting the number of SFAO and CAFAO users who can request a credit decision on a potential borrower. After you are registered, you will be able to view information about batches processed by the Loan Origination System (LOS), information pertaining to a borrower, and details on a specific loan. The information you view is only information provided by your school. You will not be able to view borrower information from another school (Example: a student is enrolled at your school and is also enrolled at another Direct Loan school. You will not be able to see the information on that student from the other school). Credit Check Capability for PLUS Loans The SFAO and CAFAO roles will have the capability to request a credit decision on a potential PLUS borrower. In order to request a credit decision, you need to obtain the borrower's permission. We have provided a PDF file within the credit decision request option that can be completed and signed by the borrower. You may accept a faxed copy of this document. We have also provided a link to the Federal Trade Commission's web site, which explains the Fair Credit Reporting Act. You will be acting as an agent for the U.S. Department of Education, so you need to comply with the Fair Credit Reporting Act. Once you have requested a credit decision, you will receive an accepted, denied, pending, or incomplete response. The borrower will be sent a letter explaining the decision. Based on the response you receive, you may continue the process of issuing the PLUS loan through the batch process, or not proceed with the loan. You may issue additional unsubsidized monies to the student based on a denied decision. You will need to print the screen with the response, so you will have the decision for your records. If you have comments or suggestions concerning the web site or need technical assistance, please use the Contact Us feature on the home page or the Feedback feature within the system. You can also contact your CSR at the LOC. Thank you for your ongoing partnership in the Direct Loan Program. Sincerely, Margaret E. White Acting Lead, Title IV Delivery Schools Channel |