Direct Loan Manifest [5024]

 

 

Module Description

This module shall enable you to VIEW, and PRINT Direct Loan Manifests. A Manifest is automatically created after the respective Direct Loan Application TRX 5015 has been updated to reflect that the DL Prom Note was printed, signed and returned by the borrower(s). The Original Prom Note and Manifest is then mailed to the Central Loan Processing Department for Loan Origination.

·It is recommended to print Prom Notes electronically to eliminated printing and mailing of notes and manifests.

·Manifests are automatically created after updating and saving the respective Direct Loan Application TRX 5015 reflecting the Prom Note Status as “Signed and Returned” with a Signature Date.

 

Field

Description

Award Year

Refers to the Award Year for which the Direct Loan and Prom Note was awarded

Loan Type

Refers to the type of loan awarded in Financial Aid Awarding and Packaging

FAA

Financial Aid Staff name who will sign manifest

Application #

Refers to the Application Number of the Direct Loan

Date

Refers to the origination Date of the loan

Student

Refers to the student the loan is borrowed for

Type

Refers to the Loan type Sub (S), Unsub (U) PLUS (P)

ID

Refers to the Loan ID number

Amount

Refers to the amount of the Loan

Stat

Refers to the status of the Loan. See Mode Descriptions above

Remarks

Refers to the Loan status or errors

 

 

 

 

 

GENERATING AND PRINTING A DL MANIFEST

 

1.Before a DL Manifest is created the respective Promissory Note must be printed in TRX 5021 and the Direct Loan Application TRX 5015 updated to reflect “Signed and Returned” status of the Prom note including a date.

                    

2.{Trx 5024} Enter the Award Year for which the Direct Loan was awarded and select the loan type, click the Search button. The DL Manifests will list down.

3.Select the Appropriate Manifest (s) you wish to print.

4.Select Print.

5.Once the Financial Aid Administrator has signed the Manifest, Mail a copy of the Promissory Note(s) and the manifest to ED at the following address:

For Express or Overnight Delivery: U.S. Department of Education 2429 Military Road, Suite 200 Niagara Falls, NY 14304 

For Regular Postal Delivery: U.S. Department of Education P.O. Box 9002 Niagara Falls, NY 14302

Once COD receives the student’s original note, they will acknowledge it. The acknowledgment will be received in RGMSMS automatically; the loan disbursements will appear on the “Payable Check” List.