Publication Date: August 23, 2006
Author: G. Kay Jacks, General Manager, Application, Operations and Delivery Services, Federal Student Aid
Summary: HERA Operational Implementation Guidance (CPS, COD System, EDExpress Suite) -- Upcoming Enhancement Release for DL Tools Release 6.0 Adds Functionality for Direct PLUS Loans for Graduate/Professional Students
Posted on 08-23-2006
Federal Student Aid wishes to alert all Federal Direct PLUS Loan (Direct PLUS Loan) participants that we are developing an enhancement release for Direct Loan (DL) Tools, Release 6.0. This enhancement release will enable DL Tools users to rebuild Direct PLUS Loan data for graduate or professional students (identified as “Grad PLUS loans” in the EDExpress software) in EDExpress for Windows 2006-2007 and display and print Grad PLUS totals separately in the Disbursement Measurement Tool report. The Higher Education Reconciliation Act of 2005 (the HERA), Pub. L. 109-171, provides for eligible graduate and professional students to receive Direct PLUS Loans on or after July 1, 2006. The HERA provision does not create a new loan program, but rather, allows a new type of borrower—an eligible graduate or professional student—to borrow under the existing Direct PLUS Loan Program. DL Tools is a multi-year, Windows-based application designed to provide the following functionality related to all Direct Loan schools’ software: · Compare the School Account Statement (SAS) report loan/disbursement data to loans and actual disbursements recorded in EDExpress or an external file, and/or compare the SAS to the DL Tools Cash Database. · Print the SAS in a readable format. · Track Cash Receipts (drawdowns) and Refunds of Cash for Direct Loans. · Rebuild your Direct Loan origination and disbursement records in EDExpress using an automated process. · Track your EDExpress Direct Loan disbursement processing efficiency to monitor against regulatory reporting requirements with the Disbursement Measurement Tool report. Release 6.0 contains functionality for the 2004-2005, 2005-2006, and 2006-2007 cycles. The DL Tools Release 6.0 enhancement release, available on September 1, 2006 on the Federal Student Aid Download (FSAdownload) Web site (located at http://fsadownload.ed.gov/), will be comprised of two program files that update Rebuild and Measurement Tool Report functionality to accommodate Grad PLUS loan data. Schools that do not use the DL Tools software, or who do not plan to use EDExpress 2006-2007 for Grad PLUS loan processing, will not need to install the September 2006 DL Tools enhancement release. Functionality Added in DL Tools Release 6.0 September Enhancement Release To take advantage of the functionality added in the September 2006 enhancement release for DL Tools Release 6.0, you must install either the August enhancement release for EDExpress 2006-2007, Release 2.0 (posted to FSAdownload on August 11, 2006) or EDExpress 2006-2007, Release 3.0 (available September 1, 2006). The September 2006 enhancement release for DL Tools Release 6.0 will implement the following functionality: 1) DL Tools Rebuild functionality will be updated to recreate Grad PLUS loan records in your EDExpress 2006-2007 database. If you are running EDExpress 2006-2007, Release 3.0, the rebuilt records will be identified specifically as Grad PLUS loans. If you are running EDExpress 2006-2007, Release 2.0 with the August enhancement release, the rebuilt records will be identified specifically as PLUS loans. For further information about upgrading to Release 3.0, please watch for the posting of the software and related documentation to FSAdownload on September 1, 2006. 2) The DL Tools Measurement Tool report will be updated to display and print calculated totals for Grad PLUS loans separately from other loan types. 3) Existing DL Tools Release 6.0 reports (excluding the Measurement Tool report) will display Grad PLUS data under existing PLUS report fields, calculations, and statistics. If You Have Questions A follow-up announcement will be posted to the community when the enhancement release for DL Tools Release 6.0 is available for download. If you have any questions regarding the DL Tools software, contact CPS/SAIG Technical Support at 800/330-5947 (TDD/TTY 800/511-5806) or by e-mail at CPSSAIG@ed.gov. For other questions about the HERA, contact the Federal Research and Customer Care Center (RCCC) at 800/433-7327, 202/275-5532 (fax), or by e-mail at firstname.lastname@example.org.