Processing a Bio/Demo Change

The following steps represent the process for changing bio/demo data. For this example, the borrower's date of birth requires a change after you have originated the loan and transmitted it to the COD.

To change bio/demo data:

  1. Enter and save a new date in the Birth date field on the Bio/Demo Data page (SA_BIO_DEMO_DATA3).

  2. For the Loan Change process to recognize the changed field, you can flag the loan for change processing. Click the Activate Change button on the Application Acknowledgement page (LOAN_ORIG_STAT_DL0) (Financial Aid, and then Loans, and then Direct Lending Management, and then Manage Direct Loan Application, and then Application Acknowledgment).

    Note:

    Click the Activate Change button to trigger the Loan Adjustment process to review the student for change transactions. Data changes in the Direct Loan Application component or the Award Entry page do not require you to manually start the Loan Change process here. Click the Activate Change button for any other data changes (for example, the student or borrower name) to start the Loan Change process.

  3. Initiate the Loan Change process by running the Loan Origination process. Access the Loan Origination page (Financial Aid, and then Loans, and then Process Loans, and then Loan Origination) select the Adjustments check box, and run the Loan Origination process.

  4. Review the Application Acknowledgment page. At this point, the Loan Process Status is In Service and the Loan Orig Trans Stat (loan origination transaction status) is Change Pending.

  5. Review the Direct Loan Orig Actions page(Financial Aid, and then Loans, and then Direct Lending Management, and then View Loan Processing Actions, and then Direct Loan Orig Actions) to ensure that the change was processed The latest sequence number should reflect an Origination Change, with an action status of Pending.

  6. The change is complete and ready to send to the COD.