() Loan Origination Center Transition to COD Update

August 2003

DLB-03-33

Subject: Loan Origination Center Transition to COD Update

Dear Partner:

This bulletin announces the completion of the transition of Direct Loan processing from the Loan Origination Center (LOC) to COD. This bulletin does not apply to the Direct Loan Consolidation program. All Direct Loan processing by the LOC will stop on Friday, August 22, 2003.

• If you have sent batch information to the LOC after the July 15, 2003 deadline (announced in previous bulletins), it has not been processed and you will not receive an electronic return notice. If you have questions about these batches, please call the number below.
• All LOC post office boxes and the LOC's bank account for Direct Loans will be closed as of August 22. Checks mailed to the LOC post office box after that date will be returned to your school. All FEDWIRE transactions will be rejected. To return funds, please refer to DLB 03-29 issued last month.

As a reminder, COD only contains information from 2002-2003 and beyond. All current processing, including the promissory note post office box, will continue with COD as normal and is not affected by the information in this bulletin.

If you have any questions, please contact the COD School Relations Center at 800/848-0978 (after you choose your language selection, please select Option #2). Thank you for your ongoing partnership in the Direct Loan Program.

Sincerely,

Jane Holman
Acting Director, Title IV Delivery
Schools Channel