Viewing a Direct Loan Promissory Note


Concept


Steps:

  1. Begin by navigating to the Direct Loan PNote Action page.

     

    Click the Financial Aid link.

    Step 1
  2. Click the Loans link.

    Step 2
  3. Click the View Promissory Note Actions link.

    Step 3
  4. Enter the desired information into the ID field. Enter

     a valid value
     e.g.
     "FAIV0046"
    .

    Step 4
  5. Click the Search button.

    Step 5
  6. Use the Direct Loan PNote page after you originate the loan to view promissory note actions.

     

    You can review when a promissory note has been signed or the status of the promissory note for the loan manifest.

    Step 6
  7. The Borrower Signature check box is selected when the borrower has signed the promissory note.

     

    In the case of a PLUS loan, the borrower is the parent or guardian.

    Step 7
  8. The Manifest field indicates the status of this promissory note in regards to the Loan Manifest.

     

    This field is used when your institution collects signed promissory notes and sends them with a manifest to a loan service provider or the direct lending common origination and disbursement processing center (COD).

     

    The following field values are possible:

    • Authorize indicates the signature check boxes are selected.

    • Batch indicates the Manifest Generation process is complete.

    • Pending indicates the loan is originated.

    Step 8
  9. Click the Details tab.

    Step 9
  10. The Details tab displays:

    Borrower Signature indicates the borrower has signed the promissory note.

    Signature Date indicates the date the Borrower Signature check box was selected, or the actual date the borrower signed the promissory note if you edited the signature date.

    • The Student Signature field is unavailable with PLUS loans when the borrower is not the student.

    Signature Date indicates the date the Student Signature check box is selected, or the actual date the student signed the promissory note if you edited the signature date.

    Promissory Note Amount indicates the amount printed on the promissory note.

    Step 10
  11. The Lender Information tab indicates which version of CommonLine is used for this loan, the newer Common Record CommonLine (CRC) or the older CommonLine 4 (CL 4).

     

    Click the CRC Lender Information tab.

    Step 11
  12. The Lender Information tab displays:

    Loan Action Dttm (loan action date and time) - The date and time the loan promissory note status was posted.

    Batch ID - The direct lending batch ID.

    Instance - The system assigns this number incrementally to count the occurrences of the processes you run. You can use this number to select the particular instance of the process for which you want to view the process results.

    User ID - The ID of the person who ran the process.

    Step 12

You have successfully reviewed promissory note actions.

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