SAL Windows Update

History Posted and Computer Date Changes

Special Code / Collector Code / Credit Bureau Code Enhancement

Three new fields have been added to the Primary Window. The fields are located on the left side of the window in the middle group box area. The three fields are Special Code description, Collector Code description and Credit Bureau Code description. In the special code, D3 means “3rd Drap letter sent. In the collector code, W1 means “Windham 1st placement” and in the credit bureau code, 93 means “Sent to Coll Agency”.

As you can see on the account below, special code and collector codes are blank. If the special code is blank, we will display a default description of “Special Code. “Special Code” will also be displayed, if the account has a special code, but there is not a description associated with it in the special code master table. If the collector code is blank, we will display a default description of “Collector Code”. “Collector Code” will also be displayed, if the account has a collector code, but there is not a description associated with it in the collector code master table. The same logic is used for the Credit Bureau code.

Viewing Memos on Archived Accounts

In the Windows product, the user never had the option to view memos on archived accounts. If the user clicked on the “Memo” button, nothing would happen. Now when the user clicks on the “Memo” button, the memo window in will be displayed. The 2nd window below shows that the “Add Memo” button is disabled. Therefore, the user may view memos on archived accounts but currently cannot add new memos to any archived accounts.

Changes to the Billed Loans Window of Name/Address

A new option was placed on this window enabling you to select all loans at one time while defining the billing type (Statements, ACH, or Coupons).

If you want to set up the billing type for all loans, click on the ‘Select All Loans’ checkbox. Then continue with the process of picking the appropriate type and pressing ‘Accept’. Once all choices are setup, click on the ‘Done’ button to remove this window.

You can also select each loan manually if there are certain loans that should be set up separately from the others.

• A change was made that after selecting loans to be billed by ACH, SAL will set focus to the ACH ABA number when closing the billed loans window.
• After entering a new Cosigner on an account, SAL will now force at least one loan to be associated with this cosigner. This will prevent the input of cosigners that do not have any loans tied back to them.
• The Fixed Payment Amount is now visible without scrolling in the Billed Loans window. Prior to the change, you needed to scroll the window to view this information.

Changes to Deferment / Cancellation Posting

1. There is now an ‘Auto Process’ button that will post the transaction on each eligible loan without having to loop through each one manually. After the process is complete and each of the loans has been processed, a report will display with the results. This report will show which loans were processed, and a reason if the loan was rejected. (This report can be printed by clicking on ‘Print Results’ on the menu bar) You can also still process the deferments/cancellations manually by clicking on the ‘Manual Process’ button.
2. A deferment letter has been created that is in the same format of the cancellation letter. This letter can be sent out to the borrower to show the status of each of the loans and whether or not the deferment was posted. The switch must be set to ‘Yes’ if you want the letter to be created during this process. If you selected to have a letter created, the system will create the ‘finder’ file that is used to create the merge information sent to Word. All that is needed to print the letter is to click on ‘Generate Letters’ in the Document Writer window. You do not need to enter any other information. Follow the normal steps of merging the letter in Word.
3. You can now press ‘ALT + R’ to bring up the electronic listing of the Federal Register while selecting eligible cancellations / postponements.

Auto Deferment/Cancellation Process Results Window

Perkins Program Changes

In November, the Department of Education issued two final regulations which effected the Perkins Loan Program.

The first item clarifies the terms of the 24% cap on collection costs for rehabilitation borrowers. The 24% cap is the maximum collection charge that can be assesed to borrowers during rehabilitation. The Department clarified that the cap does not apply to borrowers who default on their loan after rehabilitation.

The second item discuses the right of sovern immunity. The Department states in 679.43(2):

In the case of a bankruptcy proceeding under either Chapter 7 or Chapter 13 of the Bankruptcy Code in which the repayment plan proposes that the borrower repay less than the full amount owed on the loan, the institution has an authoritative determination by an appropriate State official that in the opinion of the State official, the institution is an agency of the State and is, on that basis, under applicable State law, immune from suit.

1098-E Reporting

A comment is displayed in the Memo window for any borrower who paid interest in the calendar year 2000. It identifies the total amount of interest paid and the amount that was eligible for 1098 reporting. Sometimes you will see the notation "5 YR LIM" in the message area. This means that a portion or all of the interest paid was not eligible for reporting purposes because payments were made after the 5 year eligibility period.

** FORM 1098-E INT PAID 2000 37.18 **
LOAN TOTL PD ALLOWED 5YR END MESSAGE
PER24A 37.18 37.18 12-02

Your December (end-of-month calc) or January (mid-month calc) Reports CD ROM contains the report that lists all borrowers who paid interest in 2000 and the eligibility criteria for each loan. Following are the definitions for each heading label on the report.

• ARC; "Y" appears in this field if all records are in the Archive directory. When you create a memo this allows us to place the information in the Archive directory instead of "live" data.
• RPY BEGINS; This is the actual start date for the 5-year repayment period that is allowed. It is computed by adding months deferred to the principal begin date (or the interest begin date if the fund parameters indicate interest is billed while the account is in enrolled or grace status).
• DFR MONTHS; These were the number of months the loan was deferred.
• 5-YEAR END; The last date that interest paid could be included for reporting purposes. If the last date was 5/00 and interest was paid after that date, only the interest that was paid through 5/00 is reported.
• INT PAID; This is the total amount of interest that was paid on a loan in 2000.
• 1098-E INT; This is the amount of interest paid that will be used for reporting purposes.
• SS NUMBER; The borrower's social security number.
• MESSAGES; EXCEEDED 5YR MAX is displayed if the loan is beyond the 5-year requirement.

2001 User's Conference

It's that time again... Time to make your plans to attend ECSI's 2001 User's Conference. This year promises to be better than any ECSI conference to date. We have prepared a list of presentations and sessions that will satisfy the most voracious appetite for knowledge. This year we will be inviting several guest speakers from various sectors to address important issues. Of course we will cover everything you need to know about SAL for Windows and our Internet technologies.

The conference will be held at the Pittsburgh Sheraton, Station Square from April 23rd to April 25th.

Internet News

For all the latest additions and changes to our web site, make sure you sign up for the "Web Site Update Notification". You will receive an email every time we make noteworthy changes to the site. You can sign up by going to the "Clients" page, the "Client Application" and "Web Site Update Notification". Alternatively, you can review the changes at any time by following the "Site Changes" link on our main table of contents.

We have always used some form of encryption for the data that resides on our Internet servers. Originally, we used a product which provided minimal protection (40-bit). In April 2000, we began encrypting all borrower data using 128-bit encryption, which is considered a high-level of protection. As part of January's release, we are now encrypting all borrower data with 448-bit encryption. This level of security is exponentially stronger than any thing available in the past. In the event that our electronic or physical security were breached, the borrower's information would still be strongly protected. It is estimated that to break this level of encryption would take more years than the solar system has been in existence -- that's pretty secure!

Regardless of the type of Direct Payment selected, the borrower can determine the amount of payment on each, individual loan. They can pay an extra $5 on a Perkins and an extra $25 on an institutional or nearly any combination they can think of. The borrower determines how their monies are prorated.

Instead of the twenty to thirty days it used to take to process a paper ACH, the new Direct Payment is nearly instantaneous. Borrowers can make payments (or changes) up to 24 hours prior to the draw. In the future, this can be reduced to as little as 4 hours.

What's Ahead?

• For borrowers who either cannot or prefer not to use PDF forms, we are adding the equivalent versions of our forms in standard HTML. Unlike our PDF documents, these new HTML forms will pre-print all of the available borrower information on the form, prior to viewing.
• Full Account Profiles are right around the corner. Hundreds of borrowers have requested profiles using our on-line customer service forms. Soon they will be able to produce a current profile of their account at any time.
• Electronic Billing is also scheduled for the coming weeks. Borrowers can request that their billing statements be sent to them electronically via Email. They determine the level of detail in the email from: a simple reminder, a short summary statement, a full billing statement. Regardless of the format they request, the complete billing statement will be kept on our web site for instant access.

Learning Center

Processing Regular Cash

• Click on Cash
• Click on Regular Cash
• Enter the Social Security (press enter)
• Enter the Check Number (press enter)
• Enter the Check Amount (press enter) or
• Click on Advance Payment (only if you have one)
• Click on Accept the payment or Change the payment or Cancel this payment
• Click on Edit listing
• Click on Create, to create the edit listing, Look to look at the edit listing, click on "X" to close the window, Print to print the edit listing, Print Setup to set your printer, click on "Ok", Cancel to close the window
• Check the edit listing to the checks and make sure they match, if they don't do one of the following:
  
  
• Click on Edit payment
• Double click on the one you want to change (then make your change)
• Click on Accept
  
  
• Click on Delete payment
• Double click on the one you want to delete
• Click on OK
• Do this as many times as needed, then
• Click on the X to close the window
  
  
• Click on Apply listing (put the edit and the applied listing away)

Processing Direct Regular Cash

• Click on Cash
• Click on Direct Regular Cash
• Enter the Social Security (press enter)
• Enter the Deposit Date (press enter)
• Enter the Fiscal "Y"es or "N"o (press enter)
• Enter the Check Number (press enter)
• Enter the Check Amount (press enter) or
• Click on Advance Payment (only if you have one)
  
  
• Click on Accept to accept the payment or Change to change the payment or Cancel to cancel this payment
• Click on Edit listing
• Click on Create, to create the edit listing, Look to look at the edit listing, click on "X" to close the window, Print to print the edit listing, Print Setup to set your printer, click on "Ok", Cancel to close the window
  
  
• Check the edit listing to the checks and make sure they match, if they don't do one of the following:
  
  
• Click on Edit payment
• Double click on the one you want to change (then make your change)
• Click on Accept
  
  
• Click on Delete payment
• Double click on the one you want to delete
• Click on Ok
• Do this as many times as needed, then
• Click on the X to close
  
  
• Click on Apply listing (put the edit and the applied listing away)

Processing Agency Cash

• Click on Agency Cash
• Double click on the Agency you want to process
• Enter Agency check number (press enter)
• Enter Agency gross amount (press enter)
• Enter Agency check amount (press enter)
• Enter Agency date (press enter)
• Enter Fiscal "Y"es or "N"o (press enter)
• Click on Accept
• Enter the Social Security (press enter)
  
  
• Enter Paid Agency (press enter)
• Enter Charge (press enter)
• Click on Accept to accept the payment or Change to change the payment or Cancel to cancel this payment
• Click on Edit listing
• Click on Create, to create the edit listing, Look to look at the edit listing, click on "X" to close the window, Print to print the edit listing, Print Setup to set your printer, click on "Ok", Cancel to close the window
  
  
• Check the edit listing to the checks and make sure they match, if they don't do one of the following:
  
  
• Click on Edit payment
• Double click on the one you want to change
• Enter your change (if needed) press enter
• Enter your change (if needed) press enter
• Click on Accept
  
  
• Click on Delete payment
• Double click on the one you want to delete
• Click on OK
• Do this as many times as needed, then
• Click on the X to close the window (if you are done)
  
  
• Click on Apply listing (put the edit and the applied listing away)

Processing Direct Agency Cash

• Click on Cash
• Click on Direct Agency Cash
• Double click on the Agency you want
• Enter Agency check number (press enter)
• Enter Agency gross amount (press enter)
• Enter Agency check amount (press enter)
• Enter Agency date (press enter)
• Enter Fiscal "Y"es or "N"o (press enter)
• Click on Accept
  
  
• Enter the Social Security (press enter)
• Enter Paid Agency (press enter)
• Enter Charge (press enter)
• Click on Accept to accept the payment or Change to change the payment or Cancel to cancel this payment
• Click on Edit listing
• Click on Create, to create the edit listing, Look to look at the edit listing, click on "X" to close the window, Print to print the edit listing, Print Setup to set your printer, click on "Ok", Cancel to close the window
  
  
• Check the edit listing to the checks and make sure they match, if they don't do one of the following:
  
  
• Click on Edit payment
• Double click on the one you want to change
• Enter your change (if needed) press enter
• Click on Accept
  
  
• Click on Delete payment
• Double click on the one you want to delete
• Click on OK
• Do this as many times as needed, then
• Click on the X to close (if you are done)
  
  
• Click on Apply listing (put the edit and the applied listing away)

Close Out Dates