[Lender] OU 003184-00 PreDisbursement File Needed for Fall 06 by July 27, 2006

[Mc Conahay, Pamela K.]

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 at ou.edu 

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