Archived News: 2006
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Attached is the Dear Colleague letter discussing the revised eligibility requirements for consolidation.
| Update on Consolidation Loan Issues (12/5/06) | View/Download |
Due to legislative provisions, some loans are subject to a calendar-year adjustment of the variable interest rate.
| Calendar Year Rate for PLUS & SLS Loans (12/5/06) | View/Download |
Attached is the letter discussing the extension of the HEA and changes made to the Title IV student loan programs and the Hispanic Serving Institutions grant programs in Title V of the HEA as a result of that legislation.
| The Third Higher Education Extension Act of 2006 (12/5/06) | View/Download |
Attached is the Revised Addendum for Federal Consolidation Loan Program Application and Promissory Note and the Addendum to the Federal Consolidation Loan Application and Promissory Note Federal Family Education Loan Program
Revised Addendum for Federal Consolidation Loan Program Application and Promissory Note
Addendum to the Federal Consolidation Loan Application and Promissory Note FFELP
Attached is the Revised Addendum for Federal Consolidation Loan Program Application and Promissory Note and the Addendum to the Federal Consolidation Loan Application and Promissory Note Federal Family Education Loan Program
Revised Addendum for Federal Consolidation Loan Program Application and Promissory Note
Addendum to the Federal Consolidation Loan Application and Promissory Note FFELP
The attached Dear Colleague Letter (FP-06-10) provides guidance to FFEL lenders on billing for and the payment of special allowance for certain FFEL PLUS Loans.
Special Allowance Payment for FFEL PLUS Loans
We have posted the final instructions for the Guaranty Agency Supplemental Claims report. The Supplemental Claims Report will allow guaranty agencies to report reinsurance claims more often than monthly and will replace the current VFA Weekly Report. The Supplemental Claims report will be available to guaranty agencies on June 26, 2006. Questions or comments regarding these instructions should be directed to FSA_GAR@ed.gov.
| GA Supplemental Report (06/20/06) | View/Download |
The attached memorandum provides additional guidance regarding the treatment of accured interest for lenders holding FFEL Unsubsidized and PLUS loans made to certain borrowers who were impacted by Hurricane Katrina and Rita. Included with the memorandum is a spreadsheet for reporting the interest to the Department.
2006 Hurricane Interest RequestWe have posted a letter to provide guidance to guaranty agencies on reporting changes to the Guaranty Agency Financial Report (GAFR), ED Form 2000, as a result of the Higher Education Reconciliation Act of 2005 (HERA).
This Technical Update is to inform Guaranty Agencies (GAs) of National Student Loan Data System (NSLDS) reporting requirements for compliance with the Higher Education Reconciliation Act of 2005 (HERA). Additionally, NSLDS has included GA Data Provider Instruction (DPI) updates for the Code for Loan Status field and the "AL" loan status code. See link below.
http://www.fp.ed.gov/PORTALSWebApp/fp/nslds.jsp
Here is the Federal Family Education Loan Program Special Allowance Rates for the Quarter Ending March 31, 2006
| Current Special Allowance Rates and Memo [Word - 13 pages] (04/26/06) | View/Download |
We have posted a "Dear Colleague" letter and attachments providing the final promissory note addenda and final Plain Language Disclosures that explain the changes to the terms and conditions of FFEL Program loans that were made by the Higher Education Reconciliation Act of 2005 (the HERA). The letter also provides guidance on awarding Federal PLUS Loans to graduate and professional students.
Addendum to the Federal Stafford Loan Master Promissory Note
Federal Stafford Loan Plain Language Disclosures
Addendum to the Federal PLUS Loan Application and Master Promissory Note and Endorser Addendum
Federal PLUS Loan Plain Language Disclosure
Addendum to the Federal Consolidation Loan Application and Promissory Note
Attached is the Current Treasury Bill (T-Bill) and Commercial Paper Rates.
| Current Treasury Bill Rates and Past 4 Quarters [Word - 1 page] (04/10/06) | View/Download |
Attached is a Lender Dear Colleague Letter to provide guidance to FFEL lenders on reporting changes to the quarterly Lender's Interest and Special Allowance Request and Report (LaRS) as a result of the Higher Education Reconciliation Act of 2005.
| Dear Colleague Letter - FP 06-04 (3/31/06) | View/Download |
The FY05 Top 100 Holders List is based on FY05 dollar amounts outstanding. The dollar amount outstanding includes Stafford, PLUS, SLS and Consolidation loans.
| Attached is a Lender Dear Colleague Letter to provide guidance to FFEL lend | View/Download |
We have posted a "Dear Colleague" letter with attachment that explains the provisions of the Higher Education Reconciliaiton Act affecting the FFEL, Direct Loan, and Perkins Loan Programs.
Enactment of the Higher Education Reconciliation Act of 2005
Enactment of the Higher Education Reconciliation Act of 2005 Loan Issues
The FY05 Top 100 Consolidators List is based on FY05 dollar amounts on new guarantees. The dollar amount of new guarantees includes only Consolidation Loans.
| FY05 Top 100 Consolidators List | View/Download |
Each quarter, the special allowance rate payable on all qualified loans is calculated and made available to the public. This is a historical listing of all rates, by year, quarter and special allowance category code.
| Historic Special Allowance Rates (02/22/06) | View/Download |
The FY05 Top 100 Originators List is based on FY05 dollar amounts of new guarantees. The dollar amount of new guarantees includes Stafford (Subsidized and Unsubidized) and Plus Loans (in millions). Excludes Consolidation Loans.
| FY05 Updated Top 100 Originators List (2/09/06) | View/Download |
What's Coming
FY06 Official Cohort Default Rates for Guaranty Agencies and Lenders
Archived News
