No deficiencies were input into PEPS in 2000 ED Conducted Reviews Top 5 lender deficiencies by # occurrences: Calendar 2001 Occurrences Dollar Amount
Unpaid Consolidation Loan Fees 55 $792,301
Deficiencies in Reporting Loans
Eligible for Interest Benefits in Part III of the ED799 22 $73,038
Failure to Report Loan Fees 13 $35,350
Failure to Report Origination Fees 13 $20,540
Billing for Subsidy on Ineligible
Loans 9 $1,533
Top 5 lender deficiencies by $
Liability: Calendar 2001 Total Liab: $1,040,608
Unpaid Consolidation Loan Fees 55 $792,301
Deficiencies in Reporting Loans
Eligible for Interest Benefits in Part III of the ED799 22 $73,038
Not Filing ED799 in a Timely
Manner 1 $41,409
Failure to Report Loan Fees 13 $35,350
Incorrect Calculations for
Average Daily Balance 3 $31,482
ED conducted Servicer Reviews:
all deficiencies Total Liab: $529,312
Billing Ineligible Loans 1 $529,312
GA conducted Lender Reviews
No deficiencies were input into PEPS in 2001
GA conducted Servicer Reviews
No deficiencies were input into PEPS in 2001 ED Conducted Reviews Top 5 lender deficiencies by # occurrences: Calendar 2002 Occurrences Dollar Amount
Unpaid Consolidation Loan Fees 45 $1,045,556
Deficiencies in Reporting Loans
Eligible for Interest Benefits in Part III of the ED799 13 $6,000
Failure to Report Loan Fees 7 $11,008
Failure to Report Origination Fees 6 $14,872
Defects in Conversion to Repayment 5 $2,635
Top 5 lender deficiencies by $
liability: Calendar 2002 Total Liab: $3,185,281
Billing Loans in an Incorrect Special
Loans Category 3 $2,077,242
Unpaid Consolidation Loan Fees 45 $1,045,556
Failure to Report Origination Fees 6 $14,872
Failure to Report Loan Fees 7 $11,008
Failure to Report "Windfall Profits" 2 $10,521
ED conducted Servicer Reviews
No deficiencies were input into PEPS in 2002
GA conducted Lender Reviews
All deficiencies: Calendar 2002 Total Liab: $137,185
Incorrect or ineligible Periods for
Deferments 1 $38
Deficiencies in Reporting Loans
Eligible for Interest Benefits in Part III of the ED799 1 $3
Failure to Report Loan Fees 1 $3,000
Not Filing ED799 in a Timely Manner 1 $134,144
GA conducted Servicer Reviews
No deficiencies were input into PEPS in 2002
GA conducted School Reviews
Top 5 school deficiencies by # occurrences: Calendar 2002 Occurrences Dollar Amount
Satisfactory academic progress
standards not adequately monitored or applied/impared administrative capability 7 $8,297 Overaward--financial need exceeded 4 $9,436 Refund calculation incorrect 3 $21,074 Pell--overpayment/underpayment 3 $825 Refund made late to Title IV account 3 $1,512
Top 5 school deficiencies by $
liability: Calendar 2002 Total Liab Collected in 2002: $164,349
FFEL Certified without Federal Pell
Grant eligiblity determination 1 $30,222 Refund calculation incorrect 3 $21,074 Student credit balance deficiencies 2 $20,614 Maximum annual ir cumulative FFEL awardchecks FFEL exceeded delivered before 3 $14,837 enrollment 1 $11,144