Publication Date: January 2001
Bulletin ID: DLB-01-01
Loan Origination System Alert
Subject: Loan Origination System Alert
This Direct Loan Bulletin informs you of the status of the Loan Origination System.
The system, including the Loan Origination (LO) Web page, is down as a result of problems with the database that occurred during the morning of January 3, 2001. The technical support team is restoring the database to its position as of 2:00 AM, January 3. The process takes approximately 24 hours and upon completion the technical team will validate the data before processing resumes.
We expect to process all data received from Tuesday (January 2) night through Friday (January 5) night over the weekend. The LO Web page will remain unavailable until Monday, January 8, to optimize the batch processing.
If we do the drawdowns for your school and you require funds during this time, please call your LO Customer Service Representative (CSR). Because the database is still down, your CSR will not have access to your funding information. You will need to provide the CSR with a list of borrowers for which your system shows an accepted promissory note and are ready to be paid. Include the borrower’s name, loan identification number, the anticipated date of disbursement as shown in the Loan Origination record, and the amount to be disbursed for those borrowers. You will be contacted to confirm that the drawdown has been made and that you should be expecting to see the requested funds in your bank account.
We apologize for this inconvenience and will keep you posted through the LO Web home page and other bulletins if necessary. The LO Web page is located at http://lo-online.ed.gov/.
Acting Director, Title IV Delivery