Reporting & Adjusting Direct Loan Data for SULA

Direct Loan Data & SULA

Reporting & Adjusting Direct Loan Data for SULA

SASFAA ? 2017 February 12-15, 2017

Biloxi, MS

Direct Loan Data & SULA

Agenda

SULA Refresher ? The Fundamentals Loan Period & Academic Year Reporting Edits New

Calculator Inquiry/Dispute Process Edits Under Development

Resources

SASFAA ? 2017

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February 12-15, 2017

Biloxi, MS

Direct Loan Data & SULA

Fundamentals

SASFAA ? 2017

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February 12-15, 2017

Biloxi, MS

Direct Loan Data & SULA

SULA applies ONLY to first-time borrowers as of July 1, 2013

? A borrower with no outstanding balance on a FFEL/Direct Loan when in receipt of a Direct Loan on or after July 1, 2013

A student who has NEVER previously enrolled A student who had FFELP or Direct Loans (D/L) in

the past, paid them all off, and received a qualifying Direct Loan on or after July 1, 2013

SASFAA ? 2017

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February 12-15, 2017

Biloxi, MS

Direct Loan Data & SULA

SASFAA ? 2017

5

February 12-15, 2017

Biloxi, MS

Direct Loan Data & SULA

SULA Formula

SASFAA ? 2017

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Biloxi, MS

Direct Loan Data & SULA

Maximum eligibility period is 150% of the Published Program Length (PPL) of the borrower's current or upcoming academic program

? Varies by program ? Multiply PPL by 1.5 ? Measured in years or portions of years

If you report the PPL in months or weeks COD will convert to years

? Established in COD using school-reported data

SASFAA ? 2017

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February 12-15, 2017

Biloxi, MS

Direct Loan Data & SULA

A Subsidized Usage Period (SUP) is the period of time for which a borrower receives a Direct Subsidized Loan

? Calculated by COD on a loan-by-loan basis

Calculated using school-reported data

? Measured in years or portions of years

Rounded up or down to the nearest tenth of a year

? Includes ONLY periods when a borrower receives and retains a Direct Subsidized Loan

? With one exception SULA is NOT related to loan amount

Annual Loan Limit exception Aggregate and annual loan limits still do apply

SASFAA ? 2017

8

February 12-15, 2017

Biloxi, MS

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