From pmcconahay at ou.edu Fri May 12 14:40:10 2006 From: pmcconahay at ou.edu (Mc Conahay, Pamela K.) Date: Fri May 12 14:37:22 2006 Subject: [Lender] OU's 06-07 Stafford and PLUS Processing Message-ID: <13C6AAE71C512F4E9DC7970DF41BCF8E05A0363A@XMAIL.sooner.net.ou.edu> Just wanted to give everyone an update that we've started transmitting 6-07 Stafford Loans for guarantee & print this week. We let our 06-07 loans stack up so students could get all the fee breaks possible, including those that didn't start paying the O fee until 5/1/06. We think we'll be caught up on transmitting our backlog by today. We had also been holding PLUS certifications awaiting resolution of some of our software issues on Grad PLUS. Since we're not able to certify Grad/PLUS until July 1 anyway, we've decided to stop holding these PLUS loans and get on with processing them. We know you've had some frustrated parents tell you that "OU doesn't have any record of my PLUS Loan" because we hadn't loaded the cert requests to our system. We're sorry about that. We also know that we've had some parents apply multiple times for 06-07 PLUS because they think the original application didn't go thru----we're going to check for duplicate applications during the certification process. Anyway, you should start seeing PLUS certifications for 06-07 coming from us starting next week. 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/20060512/34234e01/attachment.html From pmcconahay at ou.edu Tue May 23 17:04:56 2006 From: pmcconahay at ou.edu (Mc Conahay, Pamela K.) Date: Tue May 23 17:34:46 2006 Subject: [Lender] Question About Grad PLUS Credit Review Message-ID: <13C6AAE71C512F4E9DC7970DF41BCF8E05AE662C@XMAIL.sooner.net.ou.edu> I believe all lenders have us profiled for "no second look" for PLUS Loan credit checks. We do NOT want to change that. But......is it possible for you to offer the "second look" option to Grad PLUS applicants while not offering it to parent PLUS applicants? If we get a parent PLUS denial, we offer the student a dependent unsub if he is eligible. When we had "second look" options turned on with various lenders, we'd just get the dependent unsub done and then get a PLUS approval....pain in the patootie to unravel everything. But, we won't have any "dependent unsub" money to offer the Grad PLUS student borrowers who get denied for adverse credit. So, I'm thinking it might be a "good thing" to offer a second look to the Grad PLUS student borrowers. (Yes, Martha Stewart was on Letterman last night, making a meat loaf layer 'cake' frosted with mashed potatoes---looked kind of gross when Dave got involved, but it sounds kinda good, doesn't it?) BUT, if your systems don't have 2 separate credit profiles for PLUS and Grad PLUS, it isn't worth it to mess up our PLUS credit process. So,I'm just fishing.......there is no right or wrong answer. 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/20060523/9ea660fc/attachment.html