Publication Date: 03/01/2001
Bulletin ID: DLB-01-04
Direct Loan Operations Information
March 2001
DLB-01-04
Subject: Direct Loan Operations Information
Dear Partner:
This bulletin covers two topics of significance to Direct Loan schools.
The first concerns the fact that a school may elect not to receive LOS 732 Reports for specific program years where the data processing has been completed and the information reconciled with the Loan Origination Center. If you do not wish to receive the LOS 732 Report for a particular year, please contact Isiah Dupree of the Direct Loan Operations Team (DLOPS). You may notify him by fax at 202/205-2508 or via email at Isiah.Dupree@ed.gov. State that you want to stop receiving reports for a selected program year(s).
The second topic concerns the return of money via the GAPS Debit Function. Schools that return money for award years closed in GAPS should not use the GAPS Debit Function. If this function is used, the transaction goes to a miscellaneous fund account and is never received and recorded by the Loan Origination Center.
If you have questions concerning either topic mentioned above, please contact the Direct Loan Operations Team at 202/205-6466.
Thank you for your ongoing partnership in the Direct Loan program.
Sincerely,
Jane Holman Acting Director, Title IV Delivery
Schools Channel