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Session 32

Direct Loan Servicing

Web Site

A New Look with Added Features

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Presenters

Dan HaywardFSA, Students Channel

Cindy BattleFSA, Students Channel

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Agenda

What’s New in Servicing

Borrower Site – A New Look with Added Features

 A New Look

 eServicing Functionality

 Entrance Counseling

School Site

 Entrance Counseling Reporting

On the Horizon / What’s Coming

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What’s New in Servicing?

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What’s New in ServicingAs of September 30, 2002

Active Borrowers

Fiscal Year to Date

In School/Grace

1,902,597

Repayment

2,734,580

Delinquent

256,765

Deferment/Forbearance

948,981

Other

22,944

Total

5,865,867

Loans Booked

Fiscal Year to Date

Program to Date

Direct Sub/Unsub

2,908,800

20,974,042

Direct Consolidation

557,847

2,283,386

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Borrower Site

“A New Look with Added Features”

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Borrower Site

School Site

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New Look for Borrower Sitewww.dl.ed.gov

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Tour the Site

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Account Summary

Check importantmessages

Verify personalinformation.

 View accountbalance(s).

 Check recentpaymentinformation

Your Account

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View AccountInformation

Select account optionfrom the leftnavigation bar…

Account summary

Payment history

Payoff amount

Get 1098-E taxinformation

Retrieve copies ofelectronicpromissory notes

Your Account

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Manage YourAccount

Select account optionfrom the leftnavigation bar…

Update personalinformation

Enroll in electroniccorrespondence

Apply for defermentor forbearance

Change yourrepayment plan orpayment due date

Your Account

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Payments andBilling Methods

Make onlinepayment

Enroll to havepaymentautomaticallywithdrawn fromchecking orsavings accountwith EDA

Enroll to receiveand view billsonline

Your Account

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Tools and Planning

Exit Counseling

It is important thatyour studentsunderstand theirrights andresponsibilities…

 Complete theExitCounselingsession online.

Your Account

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Tools and Planning

InterestCapitalizationEstimator

Utilize any oneof the onlinecalculators toaid in yourstudentsmanage theirstudent loandebt

Your Account

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Free, Fast, Convenientand Secure

Account managementonline with ourElectronic Services…

Receive bills andimportantcorrespondenceelectronically

Make payments online

Electronic Services

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Online Payments

Make a paymentanytime.

Schedulepayments up tosix months inadvance.

Electronic Services

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Online EntranceCounseling

Direct Loan studentswill now take theironline EntranceCounseling on theDirect Loan Web sitefor borrowers.

Borrowers will notneed a PIN to takeEntrance Counseling,but will continue to usethe PIN for ExitCounseling.

Entrance Counseling

Coming in December

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Schools will be able toreceive reports ofstudents who havetaken OnlineEntranceCounseling in threeways:

1.Online at the DLServicing Schoolsite

2.Via the SAIG

3.Summary reportavailable via email

Entrance CounselingReports School Site

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What’s Coming?

Dan Hayward

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Coming Soon

nSchool

–Exit Counseling

•Packaging of Separation Materials

–More effective way of communicating with schools whenchanges occur (fast FAX)

–Login using COD interface – estimated September 2003(until then you will continue to use your LO login)

nBorrower

–Exit Counseling – high balance information page

–Late fees

–Letter Re-engineering

–New combined bill / annual statement and new DL logo

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Coming SoonLetter Re-engineering

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Coming SoonLetter Re-engineering

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Questions or Comments?

We appreciate your feedback andcomments. We can be reached at:

nDan Hayward

Phone: 202-377-3207

Email: Dan.Hayward@ed.gov

nCindy Battle

Phone: 202-377-3261

Email: Cynthia.Battle@ed.gov