Direct Loan - Disbursements and the Common Record

Prerequisites

· The Demographic (Demo) Record
· The FAFSA Tab
· DL Setup Required
· Manually Originating Loans
· Creating Loans from Import
· Origination and the Common Record

· IMPORTANT: Disbursements can only be made within certain time periods. To be able to complete this lesson using the Training version of EDExpress, you must close EDExpress. Then, from Start, Settings, Control Panel select Date/Time. Change your system date to August 30, 2004. Note that this may affect other programs such as calendars with reminders.

Introduction

When you save a loan record with a new actual disbursement, an adjustment to an actual disbursement, or an actual disbursement date change, EDExpress sets the transaction's status flag to R, Ready to send. When you export these records, EDExpress creates a COD Common Record with disbursement transactions.

Scenario

You have made changes to Direct Loan disbursements for FSAU students. Export their disbursement data to a Common Record that can be transmitted to Common Origination and Disbursement (COD).

Tasks

To continue processing disbursement records, you will:

· Enter an Actual Disbursement
· Export the COD Common Record
· Import the Receipt and Response Files

Continue to the first task