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OD: Moving to the Federal Direct Loan Program: Understanding Business Practices

Recorded May 20, 2008

Overview

Uncertainty in the credit markets and the student loan environment is leading a number of colleges and universities to consider moving from the bank-based Federal Family Education Loan (FFEL) program to the Federal Direct Loan program. Under the Direct Loan program, the federal government provides loans directly to students with the institution taking a more active role in loan origination.  Most institutions have not revisited their initial choice to participate in one of these programs in more than a decade—leaving business officers with many questions about the operational implications of such a switch.

NACUBO has teamed with the National Direct Student Loan Coalition (NDSLC), a association of institutions of higher education participating in the Direct Loan program, to provide an overview of campus operations under the Direct Loan program, the steps involved in switching, and address the many questions being raised by business officers. The presenters, each from a different administrative area, will also share best practices from their institutions.

The audience will have the opportunity to ask questions throughout the program.

This Web cast is intended to help each institution make an informed decision that will be best for its circumstances, not to advocate for either option.

What You Will Learn:

• Business reasons for moving from the FFEL program to the Direct Loan program
• Issues to consider in the decision-making process about business practices that impact the business and student financial aid offices
• Operational requirements for cash management
• Best business practices at participating Direct Loan institution

Who Should Participate?

• Chief business officers
• Bursars
• Directors of student financial services
• Student financial aid administrators
• Controllers

Meet the Presenters:

• Cory Bastik, senior systems support specialist, Rutgers University
• August Daquila, controller, Ramapo College
• Craig Munier, director of scholarships and financial aid, University of Nebraska, Lincoln
• M.E.G. Schmidtbauer, loan unit manager, University of Minnesota, Twin Cities

Course Information:

• Course Level: Overview
• Length: 75 minutes
• Prerequisites: none

Fees