[Lender] OU Begins Sending "Mass Quantities" Today

[Mc Conahay, Pamela K.]

Just an alert that OU-Norman 003184-00 will begin sending 2009-2010 App Send loan records in large batches to ELM as of today/tonight.   So, eat your Wheaties (or fried chicken ova like Beldar & Primat)  and take your vitamins, because the wave is about to hit.

Our first batch of 'automated' loans has 296 students in it and they are all freshmen and all Stafford loans (sub & unsub) and all have a Fall 09/Spring 10 loan period.   A second batch of sophomore loans may make it out tonight as well.

We've been sending 2009-2010 App Send records for Stafford, PLUS, Grad PLUS and Private Loans about 2 weeks but those were all created individually and manually by our loan staff (the amazing quartet of Jehan Parekh, Janet Stevens, Katie Bayliss and Deidra Martin).   This batch of 296 freshmen loans are the first ones created by our new Banner system without their review.

Another note:  we are sending all 2009-2010 loans with the disbursements in "HOLD" status instead of "RELEASE" status so don't be surprised by that.  I'll give you a head's up when we begin sending releases to ELM (around 8/1).     Our standardized dates are shown below.

Pam McConahay
Associate Director, University of Oklahoma Financial Aid Services
1000 Asp Ave, Room 216, Norman, OK 73019-4078
(405) 325-4617  Fax (405) 325-3657
pmcconahay at ou.edu<mailto:pmcconahay at ou.edu>

Term


Loan
Beginning

Loan
Ending

Lender
Disb
Dates

180*
Late
Disb

R2T4 # of Days in Term

R2T4  60% Point
Withdrawals s on this date or later in the term do not require return of funds.



F/Sp 2009-2010



08/24/09


05/14/10


8/11/09
01/6/10


11/10/10



NA


NA

Fall 2009


08/24/09

12/18/09

8/11/09


6/16/10

112

10/30/09
67.2 days = 60%
next business day = 10/30/09

Spring 2010


01/19/10

05/14/10

01/06/10

11/10/10

107

4/02/10
64.2 = 60%
Next bus day = 4/02/10

Spring +
Summer

01/19/10

08/02/10

01/06/10
05/25/10

01/29/11

N/A

N/A

Summer10

06/07/10

08/02/10

05/25/10

01/29/11

57

7/12/10
34.2 days = 60%
Next bus day = 7/12/10

No Spring/Summer or Summer 10 loans will be done until Spring 2010.
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