From pmcconahay at ou.edu Wed Jul 19 09:03:01 2006 From: pmcconahay at ou.edu (Mc Conahay, Pamela K.) Date: Wed Jul 19 09:02:23 2006 Subject: [Lender] PLUS Volume Moving to Third Quarter Message-ID: <13C6AAE71C512F4E9DC7970DF41BCF8E0606C196@XMAIL.sooner.net.ou.edu> I just wanted to remind all of you (and your managers) that our 2nd quarter 2006 PLUS Volume will likely be down from 2005. Because of an issue with our software, we didn't start loading 06-07 PLUS certification requests until early June. We've received 341 PLUS certification requests so far for 06-07 and 163 are awaiting certification. So, expect your 2nd quarter PLUS figures to be very different from 2nd quarter 2005.....and it isn't your fault. Pam McConahay Assoc. Dir., Compliance, Training & Lender Relations University of Oklahoma Financial Aid Services 1000 Asp Avenue, Room 216 Norman OK 73019-4078 (405) 325-4617 Fax (405) 325-7608 pmcconahay@ou.edu This message, and attachments if any, from the University of Oklahoma may contain confidential or privileged information. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you received this transmission in error, please notify the sender and delete this message immediately. Thank you. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20060719/a216f75a/attachment.html From pmcconahay at ou.edu Wed Jul 19 18:05:03 2006 From: pmcconahay at ou.edu (Mc Conahay, Pamela K.) Date: Wed Jul 19 18:04:16 2006 Subject: [Lender] OU 003184-00 PreDisbursement File Needed for Fall 06 by July 27, 2006 Message-ID: <13C6AAE71C512F4E9DC7970DF41BCF8E0606C47B@XMAIL.sooner.net.ou.edu> In Summer 05 and Summer 06, we tried using the Hold part of Hold and Release for the first time. Man, was that sweet. We asked all our loan sources to send us a predisbursement file in Commonline4 format; we then ran those files against our enrollment system and used the results to identify students who had not enrolled for summer or whose loans needed to be held for some other reason (need to adjust due to overawards, etc.). We then put holds on those disbursements so we could release then when/if the student enrolled instead of receiving the funds and having to return them. We hate returning funds from OU because our return process is still using paper checks. This was a big success. Such a big success that we want to do it for Fall 06 as well. And, I want the files by July 27. That will give us the opportunity to adjust any disbursements or put on holds before the window closes for our August 9 big disbursement. Here's the parameters: Loan period begins 8/21/06 Loan type = Stafford (sub or unsub) No PLUS, Alternative or Grad PLUS (that'll be easy, we haven't certified any GB yet). Format: Commonline 4 disbursement file Destination: our regular OpenNet mailbox. Our plan is to compare your rosters with our financial aid & enrollment records and use the results to identify students who have not enrolled for Fall or whose loans needed to be held for some other reason (need to adjust due to overawards, etc.). We're hopeful that using this process will improve our Fall 06 disbursement and save work for all of us. Pam Chandler at OSLA, Ron Hancock at Nelnet and Lori Brown at Sallie Mae ALL did this successfully for Summer 06, so if you need help with the file structure, call one of them. They'll laugh at you, but they might help. If you call Ron, be prepared to hear diaper horror stories. If you have any questions, don't hesitate to email or call me. Again, July 27 is the day we need this file. Please share this with whomever might need it within your organization or at your servicer. Pam McConahay Assoc. Dir., Compliance, Training & Lender Relations University of Oklahoma Financial Aid Services 1000 Asp Avenue, Room 216 Norman OK 73019-4078 (405) 325-4617 Fax (405) 325-7608 pmcconahay@ou.edu This message, and attachments if any, from the University of Oklahoma may contain confidential or privileged information. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you received this transmission in error, please notify the sender and delete this message immediately. Thank you. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20060719/8b66a03f/attachment.html