ANN2004

Publication Date
March 06, 2020
DCL ID
ANN-20-04
Subject
Live Internet Webinar – Annual Student Loan Acknowledgment (Updated March 18, 2020)
Summary
This letter announces an upcoming webinar that will provide information about the new Annual Student Loan Acknowledgement process. The borrower experience and the operational impact to Direct Loan processing will be described.

Note: In response to school concerns and the unprecedented disruptions caused by the coronavirus (COVID-19), we are assessing potential changes to the implementation schedule of the Annual Student Loan Acknowledgment. We will provide further details as soon as possible in an Electronic Announcement posted to the Information for Financial Aid Professionals (IFAP) website. In the meantime, we are canceling this webinar series. Information about a rescheduled webinar series, including updated registration information, will be provided in a forthcoming Training Announcement posted to the IFAP website.

Dear Colleague:

We are pleased to announce an upcoming webinar that will describe the Annual Student Loan Acknowledgement (previously called the “Informed Borrowing Confirmation” process) that will be implemented in late April 2020 on StudentAid.gov. The new process will require student and parent borrowers to log into StudentAid.gov each year to view how much they currently owe in federal student loans, and to acknowledge that they have seen this amount before a school can make the first disbursement of the first Direct Loan the borrower receives for a particular award year. This process is mandatory starting with loans associated with the 2020–21 Award Year.

This webinar will review the borrower experience with the acknowledgement process on Studentaid.gov, as well as describe operational changes to Direct Loan processing at the Common Origination and Disbursement (COD) System to support schools with managing this new process. Information about new COD System fields, search options, tags, reject codes, school reports and more will be discussed.  

Note: Operational information for schools about the Annual Student Loan Acknowledgment will be provided in a forthcoming Electronic Announcement, to be posted to the Information for Financial Aid Professionals (IFAP) website in the coming weeks.

Federal Student Aid staff will present this webinar in a 90-minute session offered on three separate occasions:

  • Thursday, March 19, 2020 at 10 a.m. Eastern time (ET)

  • Thursday, April 2, 2020 at 4 p.m. ET

  • Thursday, April 23, 2020 at 2 p.m. ET

Note: There may be a difference between a trainee’s local time and Eastern time. To determine local time and its Eastern time zone equivalent, click on this link:

http://www.time.gov/

Advance registration is required for this training and will be available on a first-come, first-served basis. To allow for as many participants as possible, we strongly encourage groups to view the webinar from a single location if accommodations allow. If viewing as a group, only one person from the group needs to register.

 

Once registered, we will send an email confirmation to the trainee. The trainee should retain this confirmation, as it contains important information, including linking and login information for the website, system test links, and cancellation information. If unable to attend, we request that the trainee cancel his or her registration so that individuals who wish to attend may do so.

Note: If you do not receive the email confirmation, please check your junk or spam email folder and notify your IT administrator that messages from the email address “FSA_Internet_Registration@ed.gov” should not be blocked.

We look forward to your participation in this training opportunity.


Sincerely,
Federal Student Aid