Publication Date: July 2003
Bulletin ID: DLB-03-27
Summary: Loan Origination Center Shutdown
Posted on 07-23-2003
July 2003
DLB-03-27
Subject: Loan Origination Center Shutdown
Dear Partner:
The Direct Loan Origination Center (LOC) will close effective July 31, 2003. No data will be processed after that date for Program Years 2001-2002 and before. A specific process for post-LOC archive closeout activities is being designed. Information about this process will be described in a future bulletin.
As a reminder, for Program Years 2002-2003 and 2003-2004, ALL data has been and will continue to be processed through Common Origination and Disbursement (COD).
Checks for refunded cash must arrive at the LOC before July 31, 2003. Any school with an outstanding balance after July 31, 2003 will receive a Final Program Review Determination (FPRD) letter and have a receivable set up with the Department’s finance department. If, in the future, you find that you need to make adjustments to loans and send back refunded cash for years 2001-2002 and before, please contact COD Customer Service and we will work with you on an exception basis.
The LO Online website will remain open until September 15, 2003, but will be unavailable after that date. However, the Direct Loan e-MPN website is now a part of COD and will not be affected by the shutdown.
COD is responsible for promissory note imaging, and Direct Loan publications for 2002-3003 and forward. These functions will remain in Montgomery, Alabama for the near future. Please send all signed paper promissory notes to:
Common Origination and Disbursement
Promissory Note Processing
P. O. Box 5692
Montgomery, AL 36103-5692
All customer service questions and/or issues will be handled through COD School Relations Center in Niagara Falls. If you have any questions, please contact the COD at 800/848-0978 or via email: codsupport@acs-inc.com. Thank you for your ongoing partnership in the Direct Loan Program.
Sincerely,
Jane Holman
Acting Director, Title IV Delivery
Schools Channel