Originating a Direct Loan


Concept


Steps:

  1. Begin by navigating to the Loan Origination page.

     

    Click the Financial Aid link.

    Step 1
  2. Click the Loans link.

    Step 2
  3. Click the Process Loans link.

    Step 3
  4. A Run Control ID is an identifier that, when paired with your User ID, uniquely identifies the process you are running. The Run Control ID defines parameters that are used when a process is run. This ensures that when a process runs in the background, the system does not prompt you for additional values.

    Step 4
  5. You can run this process by searching for an existing Run Control ID or you can add a new value.

     

    Creating a Run Control ID that is relevant to the process may help you remember it for future use.

    Step 5
  6. With the Run Control ID field empty, you  can click the Search key to find all Run Control IDs.

     

    In this case, there is only one existing Run Control ID, so the Search process accesses it directly.

     

    Click the Search button.

    Step 6
  7. Use the Loan Origination page to originate any Stafford or PLUS loans that have been awarded and have an award status of Accepted.

     

    The Stafford or PLUS loans must have the loan program indicated as Direct Lending to be selected by this run control.

    Step 7
  8. The Institution field indicates the institution for which you are originating loans.

    Step 8
  9. The Aid Year field indicates the aid year for which you are originating loans.

    Step 9
  10. The Career field indicates the academic career of the students for whom you are originating loans.

    Step 10
  11. The CL Orig Options (CommonLine origination options) field is used for CommonLine loans only.

    Step 11
  12. You can add additional rows to include different institution, aid year, and career combinations for originating loans.

    Step 12
  13. Remember, for Stafford or PLUS loans, you must select  the loan program as Direct Lending.

    Step 13
  14. The fields in the Selection Criteria group box allow you to originate loans for a group of students selected by last name.

     

    Only students with the selected Institution, Aid Year, and Career are selected.

    Step 14
  15. You can only enter names in the Selection Criteria region if the Student Override check box is not selected.

    Step 15
  16. Click in the Last Name FROM field.

    Step 16
  17. Enter the desired information into the Last Name FROM field. Enter

     a valid value
     e.g.
     "Atkins"
    .

    Step 17
  18. Click in the Last Name TO field.

    Step 18
  19. Enter the desired information into the Last Name TO field. Enter

     a valid value
     e.g.
     "McMurphy"
    .

    Step 19
  20. You can use the Student Override group box to originate loans for a single student or a group of specific students within the selected Institution, Aid Year, and Career.

    Step 20
  21. Use the Student Override check box to indicate that you want to originate specific students.

     

    When you select this check box, the ID field becomes available and any names entered in the Last Name FROM and Last Name TO fields in the Selection Criteria region are removed.

     

    Click the Student Override option.

    Step 21
  22. Click in the ID field.

    Step 22
  23. Use the ID field to enter the unique ID for the student that you want to originate.

     

    Enter the desired information into the ID field. Enter

     a valid value
     e.g.
     "FAD0003"
    .

    Step 23
  24. Click the Run button.

    Step 24
  25. Use the Process Scheduler Request page to enter or update parameters, such as server name and process output format.

    Step 25
  26. You must select a Server Name to identify the server on which the process will run. If you use the same Run Control ID for subsequent processes, the server name that you last used will default in this field.

     

    For this example, use the default selection.

    Step 26
  27. Click the OK button.

    Step 27
  28. Click the Save button.

    Step 28

You have successfully originated a loan.

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