Discharge and Forgiveness
Resolving Rejections
MGL
Authentication and Disclosure
21st Century Music
100
The decision to discharge or forgive a loan is made by
The lender and / or guarantor.
100
Economic Hardship Deferment: Borrower sends in a joint tax return as proof of income for the Economic Hardship HRD4.
Because the Economic Hardship deferment is based on an individual’s eligibility, we cannot accept a joint tax return only. Instead, the borrower would need to submit the joint tax return AND a copy of the borrower’s W2 forms to verify their individual income from the prior year.
100
Borrower states they have setup a user ID and password; MGL says there are no loans. What's wrong?
First verify in myCompass if the borrower has setup a login associated with their account. If not, within the Borrower Password Reset System, search for the user ID that the borrower used and verify the SSN. If the SSN was incorrect with the initial MGL User ID and Password, delete the login and have the borrower setup a login again using the correct SSN.
100
Great Lakes must comply with federal privacy law, which limits the instances in which a servicer may disclose private personal information about a consumer to other persons. Which documents authorizes disclosure to certain persons for federal and direct student loans and private loans?
Master Promissory Note MPN for federal and direct student loans. Loan contract for private loans.
100
What popular song by Shakira hit the number #1 spot in over 50 different countries?
What is Hips Don't Lie. Shakira created this hit song in 2006 with the help of another musical performer named Wyclef Jean. "Hips Don't Lie" hit the Number One spot in countries such as Australia, the United States, the United Kingdom and even Italy and Switzerland.
200
If a loan is discharged or forgiven it will display in
Defaulted (PD DFLT) status
200
Economic Hardship Deferment: What is the difference between public assistance and income for the Economic Hardship HRD4?
Public assistance is considered income at the age of 60 and older. Assistance received at the age of 59 and earlier is considered public assistance.
200
Can borrowers with foreign addresses and phone numbers set up a login? If yes, how?
Yes, however they often have trouble setting up a login with a foreign phone number. Borrowers are required to enter a 10 digit U.S. phone number which cannot begin with a 0 or 1. When entering a foreign phone number, have the borrower enter the number minus the country code.
200
Caller: Student on a Parent Plus Loan: Can you release the name / location of school the student attended or is attending? True or False
True
200
The song "Rehab" was first released in Ireland. What British pop singer came up with this R&B song?
Who is Amy Winehouse. Amy Winehouse perfectly sang her most popular song, "Rehab". When "Rehab" originally came out, it was not a huge hit until Amy Winehouse performed the song on the USA MTV Music Awards. The time period after the Music Awards was when "Rehab" hit its peak at the number 1 spot on the Norwegian Music Chart.
300
Borrowers cannot request a Defense to Repayment Discharge or FO-DFRP through Great Lakes. All requests must be submitted to
FSA and FSA will make the final determination regarding a borrower's eligibility.
300
Economic Hardship Deferment: Borrower does not work full-time according to information on paycheck stubs (or other required documentation). Define full-time employment.
Full-time employment is defined as working at least 30 hours per week (130 hours per month or 1560 hours annually) in a position expected to last at least 3 consecutive months.
300
How long must an online account be inactive before it is deactivated?
An online account reflects a status of "Account Deactivated" after 15 months without a sign in.
300
Within the Secondary Authentication boxes, if school is grayed and the borrower has no phone number and/or the address is invalid, how would you authenticate the caller?.
The school name located in the Show Loans section can be used to authenticate the caller. Then check the Authentication Override box
300
Who sang the song 'Listen" in the 2007 movie called "Dreamgirls"?
Who is Beyoncé Knowles. Beyonce Knowles sang "Listen" in the movie "Dreamgirls", which was a major hit in the movie box offices. Also, "Listen" hit its peak on the Polish and Indonesian music charts by hitting the Number 1 spot on both.
400
True or False: Great Lakes has information about eligibility or availability of State Funded Student Loan Repayment and Forgiveness Programs.
What is False
400
Unemployment Deferment: If a form is rejected due to missing / incomplete information, what information can be taken from the borrower via phone.
Borrower registered with an employment agency online or in community (must be assisting the borrower in finding full time permanent employment). Borrower made six job attempts (only required if Unemployment Deferment is a renewal). Qualifying (begin) date of unemployment.
400
Where can a borrower view the Annual Privacy Policy Notice?
At the bottom of the mygreatlakes.org home page.
400
What worldwide hit by Rihanna featured a music video where Rihanna dresses up as a French maid?
What is Umbrella. Rihanna released her hit single "Umbrella" on March 29th, 2007; it was instantly a hit in numerous countries all around the world. Her music video, which received almost as much attention as the song did, featured Rihanna as a French maid dancing with an Umbrella. "Umbrella" had many number 1 hits, even in some countries that would not be expected to listen to this type of music such as Ireland, Norway and Poland.
500
Through the College Cost Reduction and Access Act of 2007, Congress created the Public Service Loan Forgiveness Program (PSLF) to encourage individuals to enter and continue to work full-time in public service organizations. Loan forgiveness under this program will occur sometime after?
After October 1, 2017.
500
Unemployment Deferment: Private loans are not eligible for unemployment deferment. Why?
This option is limited to federal student loans.
500
Borrowers are able to complete 8 forms online via HTML form wizards. Name the 8 forms.
• Unemployment Deferment Request • Economic Hardship Deferment Request • In-School Deferment Request • Repayment Plan Selection • Mandatory Forbearance Request Student Loan Burden • General Forbearance Request • Teacher Loan Forgiveness Application • Teacher Loan Forgiveness Forbearance Request
500
How does myCompass scope what information can be disclosed to the caller?
myCompass will scope what information can be disclosed based upon who you set as the customer.
500
The song "Not Ready to Make Nice" received the Song of the Year Award at the 49th Grammy Awards. What group performed this song?
Who is The Dixie Chicks. "Not Ready to Make Nice" was sung and performed by the three members of the country-pop group named the Dixie Chicks. "Not Ready to Make Nice" hit their highest position up to that time on the Canadian charts, where they reached the number 3 spot. Also, the Dixie Chicks took home not only the Song of the Year at the 49th Grammy Awards, but they also received the Record of the Year and the Best Country Performance by a Duo or Group with Vocal.
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