Report Addresses Reinstatement of Auto-Canceled Disbursements

USA Funds^®’ guarantor-servicer has created a new report, Disbursements Eligible for Reinstate Based on New Enrollment (LFH47). The report will be available June 22 in Document Direct for the Internet.

The report addresses the Lender Funds Management disbursing system’s auto-cancel feature for students whose status has dropped below half-time. Once a student has dropped below half-time status, the disbursing system automatically cancels subsequent disbursements as required by federal regulations.

Effective June 22, the Disbursements Eligible for Reinstate Based on New Enrollment report will list borrowers whose enrollment had dropped below half-time status, but who recently went back to half-time or full-time status and are eligible to have their disbursements reinstated.

The report will be created for schools only if there are students who meet that criterion in the data sweep.

For more information about the Disbursements Eligible for Reinstate Based on New Enrollment report, contact your USA Funds Services technical consultant.