(DL-22-01) Annual Student Loan Acknowledgment – Borrower Completion Not Required for 2022–23 Award Year and Beyond
January 21, 2022
In a Nov. 21, 2019 Electronic Announcement, we informed schools about a change to our approved Master Promissory Note (MPN) confirmation processes. The Annual Student Loan Acknowledgment process would require student and parent borrowers to view how much they currently owe in federal student loans, and to acknowledge that they have seen this amount before a school can make the first disbursement of the first Direct Loan that a student or parent borrower receives for each new award year.
Per existing business rules of the Common Origination and Disbursement (COD) System, schools will continue to receive information about a borrower’s completion of the Annual Student Loan Acknowledgment process on StudentAid.gov. However, we will not reject disbursement records submitted to the COD System prior to the completion of the Annual Student Loan Acknowledgment.
Schools must adjust borrower notifications and make system modifications, as appropriate, to reflect that the Annual Student Loan Acknowledgment is not required.
