The Collect Direct Loan Reconciliation Data window calculates the DL disbursement data needed to meet the requirements of the Business Office Disbursement Reconciliation external update process in PowerFAIDS and populates the Direct Loan Report table based on these calculations.
Data from the Disbursement Transaction History table in FAM and the Transaction History table in Business Office is used. Only active Disbursement Transaction History rows that are Direct Loan funds, have Loan IDs, and have been posted to student accounts are included.
The DL Loan ID and the disbursement number of the transaction is a critical key that J1 uses to collect data. The disbursement sequence number indicates the order of disbursement activity between PowerFAIDS and COD. Typically, sequence 1 is the initial disbursement and higher numbers indicate some adjustment to the initial disbursement.
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A Subsidized Direct Loan for Mary Jones with disbursement number 1 indicates Mary's Fall disbursement. A Subsidized Direct Loan for Mary Jones with disbursement number 1 and disbursement sequence 1 indicates Mary's initial Fall disbursement. If Mary reduces the amount of her loan, then an adjustment occurs that creates a new transaction row with disbursement number 1 and disbursement sequence 2. |
J1 sums the following data from all disbursement sequence numbers present for the same Loan ID and Disbursement number, whether there is only one or many.
| Gross Amount | From FAM |
| Origination Fee Amount | From FAM |
| Rebate Fee Amount | From FAM |
| Transaction Amount | From Business Office |
| Transaction Date | This is not summed but is collected from the earliest disbursement sequence number transaction posted in Business Office. |
This data, along with the DL loan ID, disbursement number, and sequence number, are populated in the Direct Loan Report table.
Collect Direct Loan Reconciliation Data?