This is an archive of the Process Redesign web pages - for historical and reference purposes only
Federal Loan Processes
Change Federal Student Loan processing.Due Date: 8/98
| Task |
By Whom |
By When
Start--End Dates |
Resources
Required |
| Investigate regulations regarding Federal Perkins Loan administration with relation to the organizational separation of awarding and disbursement. |
Linda DeWitt |
9/96 - 10/96 |
|
| Secure written opinion from Region X, USDE. |
Linda DeWitt |
10/96 - 10/96 |
|
| Initiate joint meetings between the Directors of College Finance and Financial Aid. |
Linda DeWitt
Verne Whittaker |
9/96 - 11/96 |
|
Define default
Convene meeting to review and finalize Lane's definition of default. |
Linda DeWitt,
Verne Whittaker |
11/96 - 11/96 |
|
| Communicate revisions to default policy to UNISA. |
Verne Whittaker |
10/96 - 11/96 |
|
| Investigate and resolve UNISA relationsObtain copy of current UNISA contract. |
Verne Whittaker |
11/96 - 11/96 |
|
| Investigate current legal relationship with UNISA. |
Verne Whittaker |
11/96 - 11/96 |
|
| Request bi-weekly data tape from UNISA of all Lane borrowers and status. |
Verne Whittaker,
Linda DeWitt |
10/96 - 11/96 |
|
Develop identification and notification procedures
Using UNISA data, develop a computer program to identify borrowers in default or delinquency. |
Programming Team |
12/96 - 1/97 |
|
| Develop a procedure for notifying delinquent borrowers with a variety of notification letters. |
Linda DeWitt,
Anita Overton,
Pam Robison,
Student Account Representative |
1/97 - 2/97 |
|
| Evaluate requirements for using USDE Federal Perkins Default Reduction Assistance software. |
Linda DeWitt,
Programming Team |
10/96 - 12/96 |
|
| Install, train, and activate use of USDE Default Reduction software. |
Programming Team,
Linda DeWitt |
1/97 - 2/97 |
|
| Task |
By Whom |
By When
Start--End Dates |
Resources
Required |
| Modify National Student Loan Data Service information to identify current Lane students. |
Linda DeWitt,
Anita Overton,
Pam Robison,
Student Account Representative |
1/97 - 2/97 |
|
| Include in the deferment approval procedure, a method to secure requests for deferments or forbearance from current Lane students. |
Linda DeWitt,
Anita Overton,
Pam Robison,
Student AccountRepresentative |
1/97 - 3/97 |
|
Cost-benefit analysis
Evaluate benefits of continuing participation in Federal Perkins Loan Program versus administrative costs to Lane. |
Linda DeWitt,
Verne Whittaker,
Marie Matsen |
11/96 - 2/97 |
|
| Conduct cost/benefit analysis of Federal Perkins Loan Program. |
Linda DeWitt
Verne Whittaker |
1/97 - 3/97 |
|
Conduct student & institutional surveys
Survey students for opinion concerning value of Federal Perkins Loan Program. |
Kay Malmberg |
1/97 - 3/97 |
|
| Survey other institutions about their administration of Federal Perkins Loan Program. |
Linda DeWitt,
Kay Malmberg |
1/97 - 3/97 |
|
Revise awarding process
Revise current awarding process so Perkins Loan promissory note is sent with award letter beginning summer of 1997. |
Linda DeWitt,
Kay Malmberg |
1/97 - 4/97 |
|
| Analyze & select servicerDetermine level of loan servicing and collections required for process. |
Linda DeWitt,
Kay Malmberg |
1/97 - 3/97 |
|
| Research alternative loan servicers (including current servicer) and compare performance. |
Linda DeWitt,
Kay Malmberg,
Verne Whittaker |
3/97 - 5/97 |
|
| Analyze servicing options and recommend action. |
Linda DeWitt,
Kay Malmberg,
Marie Matsen,
Verne Whittaker |
5/97 - 6/97 |
|
| Task |
By Whom |
By When
Start--End Dates |
Resources
Required |
| Complete contract with selected loan servicer. |
Linda DeWitt,
Kay Malmberg,
Marie Matsen,
Verne Whittaker |
6/97 - 8/97 |
|
| Work with servicer to establish procedures and exchange of information. |
Linda DeWitt,
Kay Malmberg,
Marie Matsen,
Verne Whittaker |
8/97 - 9/97 |
|
Select and train student loan team
Select Student Loan Team based upon established standards. |
Financial Aid and Student Finance Team Leader Managers |
1/98 - 3/98 |
|
| Train Student Loan Team. |
Linda DeWitt,
Kay Malmberg |
3/98 - 7/98 |
|
| Transfer entire Federal Perkins Loan Program process to the Student Loan Team. |
Financial Aid and Student Finance Team Leader Managers |
8/98 |
|
|
|
