1. Operation: Loan Jungle Recon
Guide: Ashlee Binggeli
University of Central Missouri

2. Background
Registration and Financial Services – Columbia College
Coordinator of Student Loan Programs – University of Central Missouri 2012-present
Direct Loan Reconciliation Program

3. Overview How to make monthly recon easier
How to monitor your loan files
How to substantiate COD drawdowns
How to balance to the dollar every day
How to create reports and spreadsheets that will help you do all of the above

4. Step 1: Monitor Loan Files
Identifying loans that did not extract
*ERROR* No accepted COD student identifier on file
*ERROR* Current COD student identifier is in sent status
*ERROR* Fund: FSTFS, *ERROR* ATB Eligibility Code is blank
Monitoring your loan files for rejects
140: Incorrect Origination Fee or Rebate Percent on New Awards
167: Sum of Subsidized Awards exceeds the Subsidized Loan Limit
067: Incorrect Disbursement Amount
117: Disb info is incomplete or rejected. DL award is not accepted
204: Incorrect Program CIP Code submitted

5. Track Rejected Loans
Keep track of student’s whose loans rejected to ensure that they are resolved and any other special group of students that you need to monitor.
Create a report to catch rejected loan (human error).
Record amount of loan that disbursed for rejected loans. (This will be needed later)

6. Step 2: Create a Loan Disbursement Report
Benefits
Ability to sort by fund code
Remove Perkins before adding to daily spreadsheet.
Ability to sort by date and time to help identify loan disb/adj after extract
Use this form for daily disclosure statements
Can sort by term

7. Disbursement Report Student ID Disbursement Date and Time Student Name
Student (Stafford and Perkins)
Detail Code
Description
Parent (PLUS)
Amount
Term (Fall, Spring, Summer)

8. Step 3: Daily Loan Spreadsheet
Graduate Students
3.0 minimum cumulative GPA
October 16
$30,178,883 + $127,841= $30,306,724 (Running Total)
$30,306,724 - $29,950,000 - $364,149= $7,425 Banner vs. COD Difference
-$7,425 + $7,425 = $0 Difference

9. Step 4: Substantiating COD Drawdown
Run disbursement report for set period of time.
Remove Perkins and sort by date
Create a shared drive with Business Office to save disbursement report.
Contact Business Office

10. Step 5: Monthly Recon(easy way)
Last day of the month: Request that no one disburse or make loan adjustments after you have run your loan extract.
Keep track of disbursed loans that do not extract.
1st day of the month: Run daily disbursement list for entire month.
Sort list by date (make sure no one made loan adjustments after you ran extract).
Sort disbursement list by fund code
Remove Perkins loans
Import loan files and monitor for rejects.

11. Monthly Recon Spreadsheet

12. DL Tools: SAS (Cash Summary)

13. Monthly SAS (Cash Summary) Continued

14. Matching the Numbers

15. Benefits of Balancing Daily
Daily Disbursement Report
Disclosures
Timing issues
Daily comparison of DL disbursements between academic years
Substantiating drawdowns
Identifying Rejects and “stuck” loans
Quickly identify students for balancing purposes
Shortens monthly recon tremendously

16. Other Recon Resources
Direct Loan Reconciliation and Program Year Closeout
Direct Loan Tools

17. Questions

18. Contact Information
Ashlee Binggeli Coordinator of Student Loan Programs University of Central Missouri