Help Electronic Payoff and Return Funds Services Online

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Form Field Definitions

Important Terms

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- D -

Date Range

Enter the date where required using the MM/DD/CCYY format. The Start Date will always be the earliest date, and the End Date will always be the latest date. Please restrict your date range to a maximum of a 3 month window to limit the number of records retrieved.

For example:
Start Date: 01/01/2008
End Date: 03/31/2008










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DUNS Number

A unique nine digit identification code (DUNS) number assigned to an institution to which a payoff is to be made by the credit rating bureau, Dun and Bradstreet.

Use only numbers (0-9).  Each separate entity must have an individual DUNS number. To obtain a DUNS number, or to validate an existing DUNS number, call Dun and Bradstreet at 1-800-333-0505 or go to the http://www.dnb.com/us/.

This field cannot be left blank.










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- E -

EFT Payoff Confirmation Code

The EFT Payoff Confirmation Code is an identifier assigned by the Grant and Administration Payment System (GAPS) to confirm that funds have been deposited in the bank account for the payoff. It can be used as a reference number to track down payment requests in GAPS, and to view online manifests. It is NOT the confirmation code indicating that the Federal Reserve processed the payment. This code will be blank if the loan holder is an agency not participating in EFT Payoff Service.










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- F -

Funds Transfer Option

You have the option of selecting Fedwire or ACH for the EFT Payoff Service.

A Fedwire transfer is the electronic movement of funds on a real time basis from the payer bank to the payee bank via transfer between Federal Reserve Bank accounts.

ACH transfers use a network of computerized processing centers, typically operated by the Federal Reserve Bank, which transfers funds between ACH member institutions and settle the transactions in a one to two day period.  ACH transfers differ from Fedwire transfer in that they take longer, do not provide immediate availability of funds, and are less expensive.










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- G -

Guaranty Agency

An agency that insures FFEL loans made by private loan holders.










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Guaranty Agency Code

GA code is the number assigned to FFEL guaranty agencies by the U.S. Department of Education. This code must be entered if the Loan Holder Type is "Guaranty Agency".










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- L -

Loan Holder's Address

Enter the mailing address for the Loan Holder organization.

For street address and city, use only letters (A-Z), numbers (0-9), period (.), comma (,), single quote ('), hyphen (-), number (#), at (@), percent (%), ampersand (&) , slash (/), or spaces (not in the first position). No other characters are allowed. Valid entries for the Zip Code are 0-9.

Select the State from the drop down box.

These fields cannot be left blank, except for "Address 2" and the +4 zip code extension.










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Loan Holder Administrator's Address

Enter the mailing address for the person designated as the organization's Loan Holder Administrator.

For street address and city, use only letters (A-Z), numbers (0-9), period (.), comma (,), single quote ('), hyphen (-), number (#), at (@), percent (%), ampersand (&) , slash (/), or spaces (not in the first position). No other characters are allowed. Valid entries for the Zip Code are 0-9.

Select the State from the drop down box.

These fields cannot be left blank, except for "Address 2" and the +4 zip code extension.










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Loan Holder Administrator's Email Address

Enter the email address for the person designated as the Loan Holder Administrator for the organization. The Administrator will be the first person to receive email notifications of an electronic funds transfer, availability of the online manifest, receipt of return funds deposit and the payment adjustment manifest.

Use only letters (A-Z), numbers (0-9), under score (_), period (.), comma (,), single quote ('), hyphen (-), pound (#), at (@), percentage (%), ampersand (&) , slash (/), or spaces (not in the first position). There must be a period (.) after an at (@).  No other characters are allowed. 

This field cannot be left blank.










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Loan Holder Administrator's Telephone

Enter the telephone number for the person designated as the organization's Loan Holder Administrator. In order to retrieve a partially completed application, you will need to enter this number.

Use only numbers (0-9).  No other characters are allowed.

This field cannot be left blank, except for the extension number.










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Loan Holder Administrator's Name, Title, and Department Name

Enter the first name, middle initial, last name, job title, and department name for the person designated as the Loan Holder Administrator for the organization. This should also be the person who is authorizing electronic funds transfer (EFT) and loan payoff overpayment returns via ACH for your organization. You will need to enter the last name of this person in order to retrieve a partially completed application..

For first and last name, use only letters (A-Z), numbers (0-9), period (.), hyphen (-), single quote ('), or spaces (not in the first position). No other characters are allowed.  For middle initial, use only letters (A-Z).  This field is optional.

For job title, use only letters (A-Z), numbers (0-9), period (.), comma (,), single quote ('), hyphen (-), number (#), at (@), percent (%), ampersand (&) , slash (/), or spaces (not in the first position). No other characters are allowed.

These fields cannot be left blank.








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Loan Holder Name

Enter the name of the Loan Holder Organization .

Use only letters (A-Z), numbers (0-9), period (.), hyphen (-), single quote ('), or spaces (not in the first position). No other characters are allowed. 

This field cannot be left blank.










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Loan Holder Type

Select Default Resolution Group (DRG), Home Health Services (HHS), Private Lender or Guaranty Agency.










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Loan Holder's Area Code/Telephone Number

Enter the primary area code and telephone number for the Loan Holder Organization.

Use only numbers (0-9).  No other characters are allowed.

This field cannot be left blank, except for the extension number.










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Loan Holder's Bank Account Number

Enter the account number or lockbox designated for funds receipts and deposits by the depository financial institution.

Use only numbers (0-9).  No other characters are allowed.

This field cannot be left blank.










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Loan Holder's Bank Name and Address

Enter the name and address of the depository financial institution where the funds are sent.

Valid entries for bank name are letters (A-Z), hyphen (-), single quote ('), and period (.).

For street address and city, use only letters (A-Z), numbers (0-9), period (.), comma (,), single quote ('), hyphen (-), number (#), at (@), percent (%), ampersand (&) , slash (/), or spaces (not in the first position). No other characters are allowed.  Valid entries for the Zip Code are 0-9.

Select the State from the drop down box.

These fields cannot be left blank, except for "Address 2" and the +4 zip code extension. 









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Loan Holder's Bank Transit Number

Enter the 9-digit ABA routing number of the depository financial institution.

Only use numbers (0-9).   No other characters are allowed.

This field cannot be left blank.









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Loan Type

A single digit identifier used to designate Direct Loans.

Subsidized Loans:

A Subsidized Federal Stafford Loans
B Guaranteed Student Loans (GSL)
C Federal Insured Student Loans (FISL)
D Federal Direct Stafford/Ford Loans
E Federal Direct Subsidized Consolidation Loans
M National Direct Student Loans (NDSL)
N National Defense Student Loans (NDSL)
O Subsidized Federal Consolidation Loans

Unsubsidized Loans:

F Federal Perkins Loans
G Unsubsidized Federal Stafford Loans (including Non-Subsidized Stafford Loans made prior to 10/1/92)
H Federal Supplemental Loans for Students (SLS)
J Unsubsidized Federal Consolidation Loans
K Federal Direct Unsubsidized Consolidation Loans
L Federal Direct Unsubsidized Stafford/Ford Loans
P Auxiliary Loans to Assist Students (ALAS)
Q Health Professions Student Loans (HPSL)
R Health Education Assistance Loans (HEAL)
S Federal PLUS Loans
T Parent Loans for Undergraduate Students (PLUS)
U Federal Direct PLUS Loans
V Federal Direct PLUS Consolidation Loans
Y Nursing Student Loans (NSL)
Z Loans for Disadvantaged Students (LDS)
W Other education loans that may not be consolidated









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- O -

OPE ID Number

The OPE ID, also known as the ED Code is assigned by the U.S. Department of Education to your institution.

Use only numbers (0-9).  No other characters are allowed.

This field cannot be left blank.










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- P -

Payment Adjustment Manifest Number

A unique number that represents the date the payment adjustment manifest was produced and the total cash overpayment amount of the manifest. This number must be included on the ACH transaction sent to the Consolidation Departmentís designated account. This number must appear on all payment adjustment manifests to allow the Consolidation Department to match payments to the manifests.

If loan holder is a Guaranty Agency, the Payment Adjustment Manifest Number will be comprised of the date manifest submitted and the total cash overpayment amount listed on the manifest. (For example: 20071204123456 representing 12/4/07 and $1,234.56 collection costs).

If loan holder is a Private Lender, the Payment Adjustment Manifest Number will be comprised of the date manifest submitted and the total overpayment amount listed on the manifest for Principal, Interest and Late Fees. (For example: 2007120412345678 representing 12/4/07 and $12,3456.78).

If loan holder is a Guaranty Agency or a Private Lender and there is only underpayments listed on the manifest, the Payment Adjustment Manifest Number will be comprised of the date manifest submitted plus 000. (For example 010708000 representing 01/07/08 and 000).










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Payoff Manifest Number

The Payoff Manifest Number is included in the email notification to the loan holders that a funds transfer has been completed and that the manifest can be viewed online. This number will allow a Loan Holder to view a manifest prior to receiving a confirmation code from GAPS.

Use only numbers (0-9). No other characters are allowed










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- S -

Secondary Point of Contactís Address

Enter the address of the person designated as the Loan Holder Administratorís backup for the organization. This person will serve as a secondary point of contact in the event that we are unable to contact the Loan Holder Administrator.

For street address and city, use only letters (A-Z), numbers (0-9), period (.), comma (,), single quote ('), hyphen (-), number (#), at (@), percent (%), ampersand (&) , slash (/), or spaces (not in the first position). No other characters are allowed.  Valid entries for the Zip Code are 0-9.

Select the State from the drop down box.

These fields cannot be left blank, except for "Address 2" and the +4 zip code extension.










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Secondary Point of Contactís Department Name

Enter the department name of the person designated as the Loan Holder Administratorís backup for the organization. This person will be used as a secondary point of contact in the event that we are unable to contact the Loan Holder Administrator.

Use only letters (A-Z), numbers (0-9), period (.), comma (,), single quote ('), hyphen (-), number (#), at (@), percent (%), ampersand (&) , slash (/), or spaces (not in the first position). No other characters are allowed.

This field cannot be left blank.










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Secondary Point of Contactís Email

Enter the email address of the person designated as the Loan Holder Administratorís backup for the organization. This person will be used as a secondary point of contact in the event that we are unable to contact the Loan Holder Administrator.

Use only letters (A-Z), numbers (0-9), under score (_), period (.), comma (,), single quote ('), hyphen (-), pound (#), at (@), percentage (%), ampersand (&) , slash (/), or spaces (not in the first position). There must be a period (.) after an at (@).  No other characters are allowed.

This field cannot be left blank.










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Secondary Point of Contactís Name and Title

Enter the name and title of the person designated as the Loan Holder Administratorís backup for the organization. This person will be used as a secondary point of contact in the event that we are unable to contact the Administrator.

For first and last name, use only letters (A-Z), numbers (0-9), period (.), hyphen (-), single quote ('), or spaces (not in the first position). No other characters are allowed.  For middle initial, use only letters (A-Z).  This field is optional.

For job title, use only letters (A-Z), numbers (0-9), period (.), comma (,), single quote ('), hyphen (-), number (#), at (@), percent (%), ampersand (&) , slash (/), or spaces (not in the first position). No other characters are allowed.

These fields cannot be left blank.










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Secondary Point of Contactís Telephone

Enter the area code and telephone number of the person designated as the Loan Holder Administratorís backup for the organization. This person will be used as a secondary point of contact in the event that we are unable to contact the Loan Holder Administrator.

Use only numbers (0-9).  No other characters are allowed.

This field cannot be left blank.










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- T -

TIN

Enter the Taxpayer ID number (TIN) for the Loan Holder.

Use only numbers (0-9).  No other characters are allowed.

This field cannot be left blank.














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Term Definition
ABA American Banking Association
ACH An automated clearinghouse through which banking transactions affecting more than financial institutions are routed to debit and credit the correct institutions.
EFT Payoff Confirmation Code Manifests are cross-referenced to a payment transaction by "confirmation code". The confirmation code is the identifier that ties a manifest to a payment record. The confirmation code is included on the manifest sent to the loan holders and on the payment record received from GAPS to report the money transferred.
DUNS Data Universal Numbering System. A unique nine-digit identification code assigned to an institution by the credit rating bureau, Dun and Bradstreet. Under GAPS, DUNS replaces the Entity Identification Number (EIN), the Payee Identification Number (PIN), and the account number.
EFT Electronic Funds Transfer computerized system that processes financial transactions and information about financial transactions.
FEDWIRE A payment method that facilitates the electronic wire transfer of funds through the Federal Reserve Bank network from one financial institution account to another.
GAPS Grant and Administration Payment System. Part of EDCAPS.
LCS Loan Consolidation Subsystem
Overpayment Funds returned from lenders directly to LCS for individual loans that were overpaid
Payment Adjustment Manifest Number Manifests are cross-referenced to a return funds ACH transaction made by the loan holder. The manifest number is the identifier that is made up of the date of the payment adjustment transaction and the total overpayment amount listed on the manifest. This number is assigned to the ACH transaction sent to the Consolidation Departmentís designated account and displayed (accessible) via Cash Link.
Treasury U.S. Department of the Treasury
Underpayment Requests from lenders directly to LCS, for individual loans that were underpaid and require additional funds















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For assistance with registering for an online account and service enrollment, call the Loan Holder Services at 1-888-799-2474. You can call Monday through Friday 8:00 AM to 5:00 PM Eastern Time. You may also email us or write directly to:

U.S. Department of Education
Consolidation Department
P.O. Box 210069
Montgomery, Al 36121-0069

















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The Direct Consolidation Loan Web site is designed to allow visually disabled users access to the tools and functions of the site, including the on-line application, using screen reader software.

Our help topics are accessed by selecting the Help link in the upper right hand corner of the page OR by clicking on the hyperlinked field labels on the registration and enrollment-related screens. The Help window can be closed using ALT-F4.

















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If you are a Loan Holder Administrator:
You must contact Customer Support for assistance. Please call 1-888-799-2474, Monday to Friday, 8:00 AM to 5:00 PM. Eastern Time.

If you are a User:
You may contact your Administrator for assistance. The Administrator will be able to create a new temporary password for you. For further assistance, please contact the Customer Support number listed above.