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Guarantor Codes |
LOUISIANA
STUDENT FINANCIAL ASSISTANCE COMMISSION
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TO: |
Lenders and Schools |
DATE: |
February 1, 2000 |
TOPIC: |
Guarantor Codes |
To assure that your Common Manual
remains current, please record this document on your LPM/LPB index, and retain
it in Appendix E of your manual.
When transmitting loan data via Common Line, Account Update File for Lenders, or
the Lender Transfer File, please use the appropriate three-digit guarantor code
assigned to the guarantor chosen. For loans guaranteed by the state of
Louisiana the guarantor code "722" should be entered on these
files. If the default code of "800" is used, the data will
appear as unidentified or unmatched. Consequently, the file has to be corrected
manually, thereby causing a delay in processing. By using the correct
guarantor codes, transactions can be processed quickly and accurately.