Mainframe Changes Add Information to Response Files

USA Funds^®’ guarantor-servicer, Sallie Mae, is making enhancements to its mainframe loan-processing system effective April 24, 2006. The changes will provide more information in Response Files for schools and lenders.

Combined Change Response Files
The loan-processing system will be able to generate two loan records within one file — with the same Unique ID — in the Change Response File Transaction for subsidized and unsubsidized Stafford loans. The combined Response File will be available for loan-level change requests such as:

• Loan period.
• Grade level.
• Borrower-requested loan amount.
• Enrollment status.

The change will allow school- and lender-customers to better track changes completed at the loan level for combined Stafford subsidized and unsubsidized loans.

When schools import these records from their Financial Aid Management Systems, both loan records will receive the update from the Response File.

To sign up for this service, contact your USA Funds Services representative.

Borrower e-mail field
The mainframe loan-processing system automatically will include “@7” records — borrower e-mail — in all CommonLine Response files sent to school- and lender-customers. No special setup is required.

Including @7 records in all CommonLine Response files provides additional information that assists lenders and schools in contacting borrowers with loan-processing or disbursement inquiries.

In order for the financial-aid office to receive @7 records, the financial-aid administrator may need to adjust the setting in the FAMS to accept the records. In addition, lenders may need to adjust their processing systems to accept @7 records.

Guarantee Amount is lesser amount
Effective April 24, schools will have the option to suspend the loan process prior to the loan’s guaranteeing for an amount that is less than the school-certified amount. The suspend status will allow schools time to work with USA Funds’ guarantor-servicer to resolve any issues causing the loan to guarantee for less than the school-certified amount.

If the school chooses not to subscribe to this new suspend option, the application-processing system automatically will continue to guarantee loan requests for the lesser amount of the following fields:

• Requested loan amount.
• School-certified amount.
• Lender-approved amount.
• Endorser amount (in the case of PLUS loans).

To request the suspend options for loans that will guarantee for less than the amount that the school certified, please contact your USA Funds Service representative.

If you have questions concerning any of the changes to the Response Files, please contact technical support or your USA Funds Services representative.