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7/29/2010
The following provides a reminder to lenders regarding the Federal Family Education Loan Program (FFELP) activities in which the Illinois Student Assistance Commission (ISAC) continues to participate, as well as updated contact information.
Lender Communication Center Updates
Effective August 2, 2010, the hours during which ISAC's Lender Communication Center (which includes the Lender Services Department) will be available to provide customer service will be between 8:30 a.m. and 4:30 p.m. (CT).
- Lenders can leave voicemail messages if calling the communication center outside regular business hours.
- The e-mail address for the Lender Communication Center will remain lenderservices@isac.org. Please allow 48-72 hours for responses to e-mail requests.
Continuing FFELP Activities
ISAC continues to support the following FFELP activities:
- NSLDS Lender Manifest Reporting [including data exchange via File Transfer Protocol (FTP)]
- Unreported Loans Reporting * (including data exchange via FTP)
- Loan Maintenance Requests (submitted manually via e-mail, phone or fax)
- Default Aversion and Skip Tracing
- Claims Processing
- Rehabilitation of At-Risk Loans
- Collection of Defaulted Loans
- Common Account Maintenance Activities:
- Student Demographic Change (record types 3 and 5)
- Loan Maintenance Activities (record types 7, 9, 10 and 24)
- Default Aversion Assistance Requests (40 series)
- Electronic Claims (50 and 60 series)
* Unreported Loans Reminder
ISAC distributed the National Student Loan Data System (NSLDS) Lender Manifest Reports of Unreported Loans (Unreported Loan Reports) during the month of May 2010. We provide these reports to lenders and servicers twice a year in order to assist them in determining whether all loans that appear in their loan portfolios have been reported to ISAC via their National Student Loan Data System Lender Manifest Report (Lender Manifest).
Lenders and servicers are required by the U.S. Department of Education (ED) to report specific FFELP loan data elements to their guaranty agencies via Lender Manifest on a monthly basis for inclusion in the guarantor's monthly reporting to NSLDS.
If you have not already done so, please take the time to review the loans listed on the May 2010 Unreported Loans Report and make the necessary data corrections so that these loans can be successfully reported on your next monthly Lender Manifest submission.
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