1307 Loan Status Code

Code indicating the loan status

Type
Identifier (ID)
Length
Min 1 / Max 2
Codes
CodeDescription
1Guaranteed
2Guaranteed with Changes
3Denied
A loan guarantee will not be issued for the loan application under consideration
4Rejected
A loan guarantee may be issued for the loan application under the consideration if the appropriate errors are corrected
5Pending
A temporary status assigned during loan investigation
6Disbursed
The loan proceeds have been transferred from the lender to the borrower or to the school
7Grace
Status assigned during the grace period prior to loan repayment
8Deferred
Status assigned during the authorized loan payment deferment period
9Forbearance
Status assigned during the temporary suspension of loan payments, granted at the discretion of the lender, according to federal regulations
10Preclaim
Status assigned while attempts are being made to encourage the borrower to resume loan payments
11Claim
Application has been made to the guarantor for payment of insured student loan
12Repayment
Status assigned during period in which the borrower must make regular installment payments on a loan
13Paid in Full
Status assigned when the principal and interest balances are reduced to zero through payments other than an claim payment
14Current
15Preforeclosure Acceptance Plan Available
16Preforeclosure Acceptance Plan Not Available
17Preforeclosure Sale Closing Plan Accepted
18Preforeclosure Sale Closing Plan Rejected
19Partial Reinstatement
20Reinstated by Mortgagor Who Retains Ownership
21Reinstated by Assumptor
22Servicing Transferred or Sold to Another Mortgagee
23Sold
24Drug Seizure
25Cancel
26Refinance
27Assumption
28Modification
29Charge-off
30Third Party Sale
31Probate
32Military Indulgence
33Contested Foreclosure
34Natural Disaster
35Expiration of Redemption
42Delinquent
43Foreclosure Started
44Deed-in-Lieu Started
45Foreclosure Completed
46Property Conveyed to Insurer
47Deed-in-Lieu Completed
48Claims without Conveyance of Title
49Assignment Completed
50Claim Paid

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