Publication Date: July 2002
Bulletin ID: DLB-02-25
Summary: Reminder of Deadline for 2000-2001 Processing - July 31, 2002
July 20002
DLB-02-25
Subject: Reminder of Deadline for 2000-2001 Processing - July 31, 2002
Dear Partner,
This serves as a reminder that the final processing deadline for sending records for the 2000-2001 Program Year is July 31, 2002. This leaves about 3 weeks to finalize the records for this program year. The Loan Origination Center (LOC) will process all records received until 8 PM ET July 31, 2002. Any batches received after this time will not be processed or acknowledged back to your school. This date will not be extended.
The LOC will be given two weeks from July 31, 2002 to process all issues received by the deadline. The 732 Report will be run on August 16, 2002 and will be available to the schools through the normal message classes by August 21, 2002. The Department will review the report and a recommendation will be made to forward schools with positive ending cash balances to Case Management and Oversight Division.
Please make every effort to complete any work for 2000-2001 and resolve any outstanding cash balance by July 31, 2002. If you agree with your institution's negative balance, please drawdown these funds via GAPS. If you agree with your institution's positive balance, please return the balance as refunded cash.
If you have any questions about reconciliation or the closeout process, please contact your customer service representative at the LOC at 800/848-0978. Thank you for your ongoing partnership in the Direct Loan Program.
Sincerely,
Jane Holman
Acting Director, Title IV DeliverySchools Channel