Maintained for Historical Purposes

This resource is being maintained for historical purposes only and is not currently applicable.

() Summary:Excess Cash Reminder for Program Year 2001-2002 and Prior

Publication Date: April 2002

Bulletin ID: DLB-02-12

Summary: Excess Cash Reminder for Program Year 2001-2002 and Prior


April 2002

DLB-02-12

Subject: Excess Cash Reminder for Program Year 2001-2002 and Prior

Dear Partner:

We would like to remind you of the locations for returning excess cash for the Direct Loan Program. This becomes increasingly important as we approach the deadline date for program year closeout. By sending excess cash to the proper address, you will help prevent improper applications of funds and processing delays.

When returning excess cash by mail (for sending amounts under $100,000), please send checks to:

U. S. Department of Education

Loan Origination Center

Attn: Excess Cash

P.O. Box 2011

Montgomery, AL 36102-2011

Always include your school name, Direct Loan school code and the full program year to which the funds should be applied. DO NOT SEND DIRECT LOAN FUNDS TO THE ST. LOUIS LOCKBOX.

For amounts over $100,000, you MUST return the funds via FedWire to:

Wachovia Bank, Atlanta, Georgia

ABA Number 061000010

Account Number 13028525

In the beneficiary section of the wire, include your school name, Direct Loan school code, the full program year to which the funds should be applied and the words "Excess cash."

If you have any questions about the return of funds, please contact the Loan Origination Center at 1 800-848-0978. Thank you for your ongoing partnership in the Direct Loan Program.

Sincerely,

Jane Holman
Acting Director, Title IV Delivery
Schools Channel