Interest will begin to accrue immediately after the first ___________.
What is disbursement?
100
The __________ Fee is a fee that is charged to the customer in conjunction with applying and being approved for a loan.
What is an Application Fee?
100
We send this letter code to borrowers who meet all
total disability discharge requirements.
What is L060?
100
If the family is not able to provide a death certificate, send a request to ____ _____ and advise why they are not able to provide a death certificate. This should not be offered as a means to allow the family not to send one to us.
What is TC00 DEATH ?
100
By enrolling into automatic debit the borrower can receive what percentage in interest rate reduction?
What is .25%?
200
Interest may capitalize on both Subsidized and Unsubsidized loans during and/or at the end of __________ if unpaid, depending on the Disbursement Date.
What is Forbearance?
200
All __________ _____ advise the customer that a late fee may be assessed on their account. Late Fee assessment is at the owner's discretion.
What is a Promissory Notes?
200
PLUS loans may be forgiven if the student the PLUS loan was for is ________.
What is deceased?
200
Requests to process automatic debit applications on file after normal processing time expired.
What Is TT00 DIRPY?
200
This code identifies the function you are asking to be completed.
What is a Sort Code?
300
If the borrower refuses to receive quarterly interest notices while in forbearance access this screen to opt out of the service.
What is the 125 Screen?
300
Late Fees are assessed on the ____ Day of Delinquency for ALL Sallie Mae FFELP Loans.
What is 15th?
300
Upon notification of death of a borrower/cosigner/ joint borrower on a spousal consolidation loan the account will be placed in a deceased ("DTH") status for ___ days.
What is 120?
300
Send a request to ____ _____ to follow the Closed School Procedures.
What is TC00 CLSCH ?
300
This department is the primary contact for schools, on incoming telephone calls.
What is College Serv?
400
S.D.I. stands for what?
What is Simple Daily Interest?
400
FFELP Late Fees equal 6.0% of the Monthly Payment Amount (MPA), but some Lenders may charge a ____ Fee
What is a Flat Fee?
400
The loan becomes defaulted at ___ days of delinquency and a default claim may be filed.
What is 270 days delinquency?
400
Send this IDT to request a Late Fee be Reversed or Waived?
What is TT00 LTFEE?
400
Marketing tool used by lenders to maintain their competitiveness within the student loan industry.
Examples: rebates, interest rate discounts or a combination of both
What is Borrower Incentive Package?
500
This is the formula for S.D.I.
What is Amount Outstanding x Interest Rate/365.25?
500
These fees are assessed for accounts in Bankruptcy Status. When an account is in a FORA status due to Bankruptcy, a _____ Fee report is pulled to monitor the status of the Bankruptcy for Discharge or Dismissal.
What is a PACER?
500
Accounts are sent a Final Delinquency Notice around ___ days past due.
What is 241?
500
Send this Auto IDT to have a name corrected.
What is TT00 SPECL?
500
Promissory notes and document image history will transfer ___ month(s) after a conversion.