OpenNet Tip: Creating a Returned Funds Query Report
The OpenNet loan-delivery system allows school-users to view returned-funds records for their Federal Family Education Loan Program loans disbursed through Lender Funds Management. The query offers schools the option to view batch-level data and detailed transaction-level data.
To create a new Returned Funds Query, school-users can follow these steps:
- Choose “Create Returned Funds Reports” from the Query and Reporting main menu.
- From the “Returned Funds Report Management” screen, choose the “Create” button at the bottom.
- At the “Returned Funds Batch Selection Criteria” screen, choose specific report criteria such as:
- School campus or branch ID number.
- Returned-funds method (auto-debit, check, EFT or all).
- Date type, which indicates the type of returned-funds batch activity to be used when searching by the specified date range.
- Date range.
- After entering all report criteria, a user has the option to submit the criteria to run the report, or save the report to run later.
- After submitting a report request, the “Returned Funds Batch Summary Results” screen displays.
- From the report-results screen, a user can view more details about each returned-funds request submitted by choosing the “View List” button.
- Users also have the option to download reports into Comma Separated Value files or Excel files.
To learn more about how “Returned Funds Query” Reports can benefit your financial-aid office’s processes, contact your USA Funds® Services account executive.
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