09/13/2005
MYF Encourages Schools to Regularly Retrieve Online Student Loan Counseling
Records
Schools must maintain documentation substantiating compliance with the loan counseling regulations, 34 CFR 682.604 (f) and (g), for each borrower. In addition to the school maintaining a record for each student's completed counseling session, the school must ensure the exit counseling information is provided to each guarantor listed in the student's records within 60 days after the student borrower provides the information.
For security reasons, Mapping Your Future's (MYF) Online Student Loan Counseling (OSLC) notification e-mails provide very limited information regarding the counseling session. However, the actual counseling record obtained from the secure Financial Aid Office (FAO) Access Area provides all information collected on the student form at the conclusion of the counseling session. Therefore, MYF recommends that the school retain a copy of the actual OSLC confirmation record in the student's file.
School staff should retrieve loan counseling data on a regular basis. Once they receive e-mail notification that a student has completed counseling on the MYF site, it's easy to login to the FAO Access Area and retrieve the documentation:
Use the Daily Records box in the upper right-hand corner of the home page to retrieve records one day at a time. To view previous dates, click and hold on the right arrow, select the date, and then click the "Change" button.
Use the Search tab to search for a record by confirmation number, Social Security number, or last name.
Use the Reports tab to view or print counseling records for a date range.
Use the Export tab to download counseling in an electronic format.
During peak counseling season, MYF encourages users to be mindful of the quantity of records you attempt to retrieve. The Reports tab allows users to access 50 records at a time. You may use the Reports tab to run a date range report and view the list first. This allows you to see how many records fall in the date range. Then, you can shorten the date range appropriately to accommodate less than 50 records. The electronic reports on the Export tab have a maximum of 200 records per report.
If you have questions about accessing OSLC records, contact Beth Ziehmer, MYF's customer care and operations specialist, at feedback@mapping-your-future.org or 573. 796.3730.
