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Section 02.17: Account Codes -- Student Loan Expenses (88000-90999)

General

These account codes are used for student loan fund receipts and expenditures for Loan Funds only.

[1] Disbursements and Adjustments

Disbursements from student loan fund capital and loan cancellations.
88001 Loan Payments to Students
Principal loaned to students.
88002 Bad Debt Write Off
This code covers the following:

88003 Late Charges
Late charges that are due and payable.
88004 Service Charge
Service charges that are due and payable.
88010 Litigation Expenses
Expenses from the collection of student loans under litigation.
88011 Administrative Expenses
Expenditures for costs of administering the student loan fund.
88012 Other Collection Costs
Other non-litigation expenses resulting from the collection of student loans.
88013 Collection Agency Costs
Expenditures for costs incurred while collecting past due receivables. This code includes fees paid to an outside agency for the collection of outstanding receivables. Use only for Loan Funds.
88014 Credit Bureau Fees
Fees associated with obtaining credit reports on loan applicants. Use only for Loan Funds.
88015 Institution Collection Cost
Collection costs incurred by an institution not covered by other account codes.
88020 Default Principal Assigned to Federal Government
Principal amount of defaulted NDS/Perkins Loans assigned to the federal government.
88021 Default Interest Assigned to Federal Government
Uncollected interest on defaulted NDS/Perkins Loans assigned to the federal government.

[2] Principal Cancelled

Recorded cancellations of loan principal.
88100 Principal Cancelled - 15% - Volunteer Service
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88101 Principal Cancelled - 20% - Volunteer Service
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88102 Principal Cancelled - 20% Teaching Service after 7/1/72
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or after July 1, 1972.
88103 Principal Cancelled - 30% Teaching Service after 7/1/72
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or after July 1, 1972.
88104 Principal Cancelled - 15% Teaching Service after 7/1/72
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or after July 1, 1972.
88105 Principal Cancelled - 10% Teaching Service after 7/1/72
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or after July 1, 1972.
88110 Principal Cancelled - 15% Law Enforcement/Correctional Officer
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88111 Principal Cancelled - 20% Law Enforcement/Correctional Officer
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88112 Principal Cancelled - 30% Law Enforcement/Correctional Officer
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88115 Principal Cancelled - 15% Service to High Risk Children/Families
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88116 Principal Cancelled - 20% Service to High Risk Children/Families
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88117 Principal Cancelled - 30% Service to High Risk Children/Families
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88120 Principal Cancelled - 15% Teach Special Subject
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88121 Principal Cancelled - 20% Teach Special Subject
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88122 Principal Cancelled - 30% Teach Special Subject
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88123 Prin Cancel - 15% Early Child Svc
No definition available.
88130 Loan Principal Cancelled - Death
Cancellation of principal on student loan due to death.
88131 Loan Principal Cancelled - Disability
Cancellation of principal on student loan due to disability.
88132 Loan Principal Cancelled - Bankruptcy
Cancellation of principal on student loan due to bankruptcy.
88133 Loan Principal Cancelled - Military To 6/30/72
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or before June 30, 1972.
88134 Loan Principal Cancelled - Other
Cancellation of principal on student loan not otherwise classified.
88135 Loan Principal Cancelled - Military After 7/1/72
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or after July 1, 1972.
88140 Principal Cancelled - 15% Nurse/MedTec
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88141 Principal Cancelled - 20% Nurse/MedTec
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88142 Principal Cancelled - 30% Nurse/MedTec
Cancellation of principal on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.

[3] Interest Cancelled

Recorded cancellations of loan interest.
88200 Interest Cancelled - 15% - Volunteer Service
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88201 Interest Cancelled - 20% - Volunteer Service
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88202 Interest Cancelled - 20% Teaching Service - After 7/01/72
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or after July 1, 1972.
88203 Interest Cancelled - 30% Teaching Service - After 7/01/72
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or after July 1, 1972.
88204 Interest Cancelled - 15% Teaching Service - After 7/01/72
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or after July 1, 1972.
88205 Interest Cancelled - 10% Teaching Service - After 7/01/72
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or after July 1, 1972.
88210 Interest Cancelled - 15% Law Enforcement/Correctional Officer
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88211 Interest Cancelled - 20% Law Enforcement/Correctional Officer
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88212 Interest Cancelled - 30% Law Enforcement/Correctional Officer
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88215 Interest Cancelled - 15% Service to High Risk Children/Families
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88216 Interest Cancelled - 20% Service to High Risk Children/Families
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88217 Interest Cancelled - 30% Service to High Risk Children/Families
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88220 Interest Cancelled - 15% Teach Special Subject
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88221 Interest Cancelled - 20% Teach Special Subject
Cancellation of interest on student loan for being employed in specific occupational areas; qualifying for various rates of loan cancellation.
88222 Interest Cancelled - 30% Teach Special Subject
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88230 Interest Cancelled - Death
Cancellation of interest on student loan due to death.
88231 Interest Cancelled - Disability
Cancellation of interest on student loan due to disability.
88232 Interest Cancelled - Bankruptcy
Cancellation of interest on student loan due to bankruptcy.
88233 Interest Cancelled Military to 6/30/72
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or before June 30, 1972.
88234 Interest Cancelled - Other
Cancellation of interest on student loan not otherwise classified.
88235 Interest Cancelled Military After 7/1/72
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation. This code applies to loans issued on or after July 1, 1972.
88240 Interest Cancelled - 15% Nurse/MedTec
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88241 Interest Cancelled - 20% Nurse/MedTec
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
88242 Interest Cancelled - 30% Nurse/MedTec
Cancellation of interest on student loan for being employed in specified occupational areas; qualifying for various rates of loan cancellation.
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