Joint Consolidation Loan Separation Application

Loan Verification Certificate for Combined Application to Separate a Joint Consolidation Loan and Direct
Consolidation Loan Promissory Note
William D. Ford Federal Direct Loan Program

OMB No. 1845-0182
Form Approved
Exp. Date 05/31/2027

The borrower identified in Item 3 of this Loan Verification Certificate (LVC) has applied to separate a joint Direct Consolidation Loan or joint Federal Consolidation Loan into a
new Direct Consolidation Loan. The U.S. Department of Education (ED) has identified you as the holder of that joint consolidation loan. The Joint Consolidation Loan Separation
Act (Public Law 117-200) authorizes joint consolidation loan co-borrowers to apply to separate a joint consolidation loan into individual Direct Consolidation Loans. In this LVC,
the term “borrower” refers to the joint consolidation loan co-borrower who has applied to separate the joint consolidation loan, and the term “co-borrower” refers to the
current or former spouse of the borrower with whom the borrower currently owes the joint consolidation loan. This LVC is used to verify the eligibility and payoff amount of the
joint consolidation loan that the borrower has applied to separate. As part of the Application to Separate a Joint Consolidation Loan and Direct Consolidation Loan Promissory
Note, the borrower named in Item 3 has authorized your disclosure of information regarding the joint consolidation loan that you hold.
Pursuant to 34 CFR 685.220(f)(1)(i), you must complete and return this LVC within 10 business days of the date received. Return the completed LVC to the following address:
[INSERT SERVICER ADDRESS HERE]
Carefully read the instructions on pages 3 and 4 before completing the LVC. If you have questions or need help completing the LVC, call [SERVICER CONTACT NUMBER].
1. Holder/Servicer Information

2. Institution/address to which payoff
should be sent (if different from Item 1)

3. Borrower Information

4. Co-Borrower Information

Name ____________________________

Name ____________________________

Lender
Servicer for Lender
Guaranty Agency
Servicer for
Guaranty Agency
School
Servicer for School

Name ____________________________

SSN ______________________________

SSN ______________________________

OPE Code _________________________

Street 1 ___________________________

Date of Birth _______________________

Street 1 ___________________________

Street 2 ___________________________

Street 1 ___________________________

Street 2 ___________________________

Name ____________________________

City, State _________________________

Street 2 ___________________________

City, State _________________________

OPE Code _________________________

Zip Code __________________________

City, State _________________________

Phone ____________________________

Street 1 ___________________________

Phone ____________________________

Zip Code __________________________

Fax ______________________________

Street 2 ___________________________

Contact Name _____________________

Holder/Servicer is (check only one):

City, State _________________________
Zip Code __________________________
Phone ____________________________
Fax ______________________________

Page 1 of 4

Phone ____________________________

Loan Verification Certificate for Combined Application to Separate a Joint Consolidation Loan and Direct
Consolidation Loan Promissory Note
William D. Ford Federal Direct Loan Program

OMB No. 1845-0182
Form Approved
Exp. Date 05/31/2027

5. Holder/Servicer Certification: I certify that:
•

To the best of my knowledge and belief, the information on this LVC is accurate and complete;

•

The loan identified in Item 7 of the Loan Information table below (a) is a legal, valid, and binding obligation of the borrower; and (b) was made and serviced in compliance
with all applicable laws and regulations.

•

The loan amount listed in Item 19 of the Loan Information table below is the amount necessary to discharge the loan. ED will rely on this LVC in paying off the listed loan.

Signature of Authorized Official ____________________________________ Holder/Servicer Name _____________________________ Date (mm-dd-yyyy) _______________
Name/Title of Authorized Official (please print) _____________________________________________________________ Area Code/Telephone # ______________________
6. Certification Date (mm-dd-yyyy) ____________________________________
Loan Information
7.
Loan ID

8.
Loan
Type

9.
Interest
Rate (%)

10.
Principal Balance
Outstanding

11.
Unpaid Interest
through
Certification
Date (Item 6)

12.
Fees and
Late
Charges

13.
Collection
Costs

14.
Total Amount
Due for
Borrower’s
Portion through
Certification Date
(Item 6)

15.
First/Only
Disbursement
Date

16.
Loan
Status
Code

17.
Total Months
Toward IBR
Forgiveness (see
instructions)

18.
Total Payoff Amount

19. Comments ____________________________________________________________________________________________________________________________________________________

Page 2 of 4

Loan Verification Certificate for Combined Application to Separate a Joint Consolidation Loan and Direct
Consolidation Loan Promissory Note
William D. Ford Federal Direct Loan Program
Instructions for completing the Loan Verification Certificate for Application to Separate a Joint Consolidation Loan
The borrower named in this Loan Verification
account while the Direct Consolidation Loan
Certificate (LVC) has applied for a Direct
application is in process, you should tell the
Consolidation Loan to repay the borrower’s portion
borrower to continue to make regularly scheduled
of a joint Direct Consolidation Loans or a joint
payments on the loan to avoid default, unless they
Federal Consolidation Loan. The U.S. Department of
have been granted a deferment or forbearance.
Education (ED) has identified a joint consolidation
You must complete and return this certificate
loan you hold or service as a loan to be consolidated.
within 10 business days of the date received to the
As part of the process for separating a joint
address provided on page 1 of this LVC.
consolidation loan into an individual Direct
Holder/Servicer Instructions:
Consolidation Loan, each loan holder/servicer
Some of the information may be preprinted. Enter
identified by ED must complete this LVC. After
dates as month-day-year (mm-dd-yyyy). Use only
receiving the LVC from you and determining that the
numbers. Example: June 1, 2024 = 06-01-2024.
loan is eligible for consolidation, ED will pay off the
Item 1: Enter or correct the holder/servicer
borrower's portion of the joint consolidation loan to
information.
you using the information you provide on this LVC
Item 2: If the payoff check should be sent to a
or, if you do not return this LVC by the specified
different institution and/or address than that in Item
deadline, by using information from ED’s National
1, enter the requested information.
Student Loan Data System (NSLDS).
Item 3: Enter or correct the borrower’s full name,
Before paying off the borrower’s loan, ED will send
Social Security Number (SSN), current address, and
the borrower a notice that provides information
current area code/phone number.
about the loan and the payoff amount that has been
verified, and informs the borrower of the deadline
for notifying ED if they want to cancel their
application for the Direct Consolidation Loan, or do
not want to consolidate the loan listed in the notice.

Item 4: Enter or correct the joint consolidation loan
co-borrower’s full name, SSN, and date of birth.

Upon receipt of payment from ED, you must notify
the borrower that the loan that was with you has
been paid in full. An overpayment from ED or any
payments you receive from the borrower after you
receive ED's payment must be sent to ED for
application to the borrower's Direct Consolidation
Loan. If the borrower contacts you about their

Item 6: Enter the date you complete this certificate.

Item 5: Sign, date, and provide the other requested
information.
Note: If you are no longer the holder/servicer of the
listed loan, indicate in Item 19 the new
holder/servicer, if known.

OMB No. 1845-0182
Form Approved
Exp. Date 05/31/2027

Loan Information table
Item 7: Enter the Loan ID assigned to the loan or
component of the loan (subsidized or unsubsidized)
for which you are the holder/servicer.
Item 8: Enter the loan type, using the codes shown
in the chart on page 4.
Item 9: Enter the annual interest rate (percent) in
effect for the loan as of the certification date. If this
rate is different from the statutory interest rate for
the loan, enter the rate that is in effect as of the
certification date, not the statutory interest rate.
Item 10-13: Provide the payoff amount for the loan,
which is the sum of the following, as of the
certification date in Item 6:
Item 10: Portion of the current outstanding
principal balance of the joint consolidation loan
(including capitalized interest) that is
attributable to the borrower identified in Item 3
(“borrower’s portion of the joint consolidation
loan”), as determined by multiplying the total
current outstanding principal balance of the loan
by the percentage of the original joint
consolidation loan amount that was attributable
to the individual loans of the borrower that
were repaid by the joint consolidation loan at
the time the loan was made.
Item 11: Unpaid accrued interest attributable to
the borrower’s portion of the joint consolidation
loan through certification date
Item 12: Unpaid fees and late charges
attributable to the borrower’s portion of the

Page 3 of 4

Loan Verification Certificate for Combined Application to Separate a Joint Consolidation Loan and Direct
Consolidation Loan Promissory Note
William D. Ford Federal Direct Loan Program
joint consolidation loan, if applicable (as
authorized by ED’s regulations)
Item 13: Unpaid collection costs attributable to
the borrower’s portion of the joint consolidation
loan, if applicable (as authorized by ED’s
regulations)
Item 14: Enter the total payoff amount due for the
borrower’s portion of the joint consolidation loan
(total of amounts listed in Items 10 through 13).
Item 15: Enter the first, or only, disbursement date
for the loan.
Item 16: Enter the current status of the loan using
the status codes from the list on this page.
Item 17: Complete Item 17 only if the loan you hold
is a joint Federal Consolidation Loan (loan type J or
O). Otherwise, leave Item 17 blank. For loan types J
or O, enter the total number of months during which
the borrower (a) on or after July 1, 2009, made a
payment on the joint Federal Consolidation Loan
under the Income-Based Repayment (IBR) Plan, the
Standard Repayment Plan based on a 10-year
repayment period, or any other repayment plan if
the payment amount was not less than an amount
calculated for a 10-year repayment period based on
the loan balance outstanding when the borrower
entered repayment on the joint consolidation loan;
or (b) on or after July 1, 2009, received an economic
hardship (HRD) deferment on the joint Federal
Consolidation Loan.

Item 19: Enter any appropriate comments. If unable
to complete this LVC, please provide an explanation
here.
Note: When the consolidation process is complete,
we will send the entity listed in Item 1 or 2 payment
for the sum of the principal, interest, and allowable
collection costs and fees. We will send a guaranty
agency payment for allowable collection costs and
fees. However, the guaranty agency’s principal and
interest balances will be accounted for by Treasury
form SF 1081.
Loan Status Codes
Code
BA
DE
DI
FB
OT
PF
RP
TR

Loan Status
Bankruptcy
Deferment
Currently Subject to Judgment or
Wage Garnishment Order
Forbearance
Other (explain in Item 20)
Paid in Full
Repayment
Transferred to Another Servicer

Item 18: Enter the total payoff amount due to the
holder/servicer shown on this LVC.

Page 4 of 4

OMB No. 1845-0182
Form Approved
Exp. Date 05/31/2027

Loan Type Codes
Code

Loan Type

E

Direct Subsidized Consolidation Loans

J
K

Unsubsidized Federal Consolidation
Loans
Direct Unsubsidized Consolidation Loans

O

Subsidized Federal Consolidation Loans

V

Direct PLUS Consolidation Loans

Paperwork Reduction Notice
According to the Paperwork Reduction Act of 1995,
no persons are required to respond to a collection of
information unless the collection displays a valid
OMB control number. The valid OMB control
number for this information collection is 1845-NEW.
Public reporting burden for this collection of
information is estimated to average 9 minutes (0.15
hours) per response, including time for reviewing
instructions, searching existing data sources,
gathering and maintaining the data needed, and
completing and reviewing the collection of
information. The obligation to respond to this
collection is mandatory in accordance with 20 U.S.C.
1087e(g)(2)(A)(i).