Notice of Terms and Conditions of Purchase of Loans under the Ensuring Continued Access to Student Loans Act of 2008. (JH)

LOAN PURCHASE PROGRAMS ELECTRONIC ANNOUNCEMENT #20
Date: August 11, 2008
To:

FFEL Program Community

From: Larry Warder, Acting Chief Operating Officer
Federal Student Aid
Subject:

Loan Schedule and Custodial Certification Table Load Procedures for Loan
Participation Purchase Program

In an Electronic Announcement posted on August 6, 2008 (Announcement #13), we attached
table load procedures applicable to the Loan Schedule and Custodial Certification data file.
Included as an attachment to this memo, is a revised Loan Schedule and Custodial Certification
Table Load Procedures, which details the edits that will be run against each Loan Schedule and
Custodial Certification data file transmission prior to the Department’s funding of the
participation request.
This Electronic Announcement is a replacement of Electronic Announcement #13.
Thank you for your continued support of these FFEL Loan Purchase Programs.
Attachment

LOAN SCHEDULE AND CUSTODIAL CERTIFICATION - TABLE LOAD PROCEDURES
Below are the “Hard” and “Soft” edits that will be run against each Loan Schedule and Custodial Certification data file transmission,
prior to funding. An error report will be created to capture all Hard and Soft edits.
Hard Edit: An edit that will result in the rejection of the entire file or an individual loan transaction (details will be reported on an
error report). In the case where an individual loan transaction is rejected, the Participation Purchase Request amount will be reduced
by the amount of that loan. The error on the individual loan transaction will need to be corrected, and resubmitted to the Department
on the next Participation Purchase Request and Loan Schedule and Custodial Certification data file transmission.
Soft Edit: An edit that will identify an entire file or individual loan transaction that have failed to meet required criteria (to be
reported on an error report). These Soft edits will not delay funding, however, the error must be corrected and resubmitted to the
Department on the next Participation Purchase Request and Loan Schedule and Custodial Certification data file transmission.

Table of Hard and Soft Edits (sorted in Field Number order)
Edit
#

Edit Name

Hard
or
Soft
Hard

1

Field format edit

2

File has not already been loaded
into FMS

Hard

3

Custodian LID is invalid

Hard

4

Servicer LID is invalid

Hard

5

Custodian LID / Servicer LID
relationship

Hard

6

PCFundingRequest is not
supported by detail in file

Hard

August 8, 2008

Edit Description

Field Names Used

Entire file will be rejected if any
of the fields are formatted
incorrectly.
Entire file will be rejected if
Custodian LID, Servicer LID
and Batch ID combination has
already been used.
Custodian LID must be an
active LID in FMS.
Servicer LID must be an active
LID in FMS.
Custodian LID and Servicer
LID relationship must be
defined in FMS.
Amount in Header Field 4 must
equal the sum of values in Field
18 in the Loan detail.

NA

Field
Number
NA

File or
Transaction
Edit
File

BatchID
CustodianIDNumber(LID/RID)
ServicerID(LID/RID)

Header 1, 2
and 3

File

CustodianIDNumber(LID/RID)

Header 2

File

ServicerID(LID/RID)

Header 3

File

CustodianIDNumber(LID/RID)
and ServicerID(LID/RID)

Header 2
and 3

File

PCFundingRequest

Header 4

File

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Edit
#

Edit Name

Hard
or
Soft
Soft

7

Cash Collections is not supported
by detail in file

8

SSN improperly formatted

Hard

9
10

GuarantyAgencyCode
TotalNumberofScheduledDisburs
ements
FirstDisbursementDate

Soft
Soft

11
12
13

AnticipatedFinalDisbursementDat
e
ActualInterestRate

August 8, 2008

Hard
Soft
Soft

Edit Description

Field Names Used

Amount in Header Field 5
must equal the sum of Loan
Level Fields 32, 34, 37, 38,
39, 40 and 41.
SSN field must be nine digits.
It cannot begin with an 8 or 9,
and the first three characters
cannot be 000.
GA code must be valid.
Number must be >=0 and
<=20.
Date must be >=May 1, 2008
and <=July 1, 2009.
Date must be <=Sept 30,
2009.
For Stafford: rate must be <=
.068
For PLUS: rate must be <=
.085

CashCollections

Field Number

Header 5

File or
Transaction
Edit
File

SSN

Loan Level 3

Transaction

GuaranteeAgencyCode
TotalNumberofScheduledDisbursem
ents
FirstDisbursementDate

Loan Level 12
Loan Level 14

Transaction
Transaction

Loan Level 15

Transaction

AnticipatedFinalDisbursementDate

Loan Level 19

Transaction

ActualInterestRate

Loan Level 27

Transaction

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