Transcript DL Reconciliation and Peoplesoft - National Direct Student Loan

M.E.G Calabrese
University of Minnesota – Twin Cities
M.E.G. Calabrese [email protected]
University of Minnesota – Twin Cities
15 years experience in Direct Lending
Approximately $3 BILLION in Direct
Loans disbursed since 95-96. And all
reconciled to $0 balances.
It’s a Journey, not a
destination…
 Do
not fear it; it’s not that bad.
 Work your origination rejects.
 Work your change rejects.
 Work your disbursement rejects.
 Find
a method that works for
your school, your system and
you.
 Keep on top of it.
 Get
your SAS (School Account
Statement) as a fixed length report
and retrieve from your SAIG mailbox.
 SAS’s are generated the first of the
month.
 Download the files using the FA
inbound process.
 Enter
your cash draws from
G5 into “Manage DL Cash
Transactions” page.
 Reconcile your cash activity.

Run the “Generate Reconciliation Report” under
the DL School Account Summary menu.
◦ Identifies loans that exist in your system but not at COD
◦ Reconcile cash draws
 Loans or cash transactions that do NOT
match show on report. Work these.
◦ Realize that sometimes timing is an
issue and that on the next month’s
report there won’t be an issue.
◦ If not timing, disbursement or
change record not yet accepted at
COD. Fix what is wrong.
 Keep
a copy of the PDF
generated for auditors to show
you’re doing monthly
reconciliation.
 Process
at U of M:
◦ Load SAS into Access database.
◦ Load PeopleSoft query info into that
database.
◦ Use compare to find loans that do
not match up (dollar amounts are
off).
◦ Fix those loans as needed.
 Helpful
queries:
◦Loans on hold (run daily)
◦Unbooked loans (run weekly)
◦Failed origination (run daily)
M.E.G. Calabrese
University of Minnesota
[email protected]
612-624-0824