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PublicationDate: 3/26/97 Summary: Re: EDExpress 97-8: Future Disbursements & Drawdown Calculations Author: DLTF - Direct Loan Task Force #609: As mentioned in the cover letter sent with version 3.2 of 1997-98 EDExpress for Windows under What's New in Direct Loan for 97-98, the software allows disbursements in the future to be entered in the software. This was done to allow for Just-in-Time processing. However at this time, the Direct Loan Origination Center (DLOC) is rejecting a disbursement if the date is on or before the date they receive the disbursement record. To prevent rejects, do not enter future disbursements or do not transmit these disbursement records until the date of disbursement has passed. The Department of Education is reviewing the future disbursement issue and will issue a message if a change to this process is made. #608: In The 1996-97 and 1997-98 versions of EDExpress for Windows, the calculate function for drawdown request does not consider adjustments or cancellations of actual disbursements previously included in a drawdown request. This means the drawdown calculated could exceed your institution's disbursement need. To ensure you are getting a properly calculated amount, use the List-Disbursement to calculate the total disbursement amount to drawdown. To print this list: 1. Choose File/Print and access the Direct Loan Print Dialog Box 2. At Report Type, choose List-Disbursement Please contact Direct Loan Technical Customer Service at 1-800-330-5947, option 3 with any further questions. |