What's New on the Financial Partners Portal

The sections below give you the latest up-to-date postings to the portal. Come back often to see the latest information.

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Attached is the FFEL Lender-of-Last-Resort Loan Program  letter.  This letter provides further information and guidance to guaranty agencies to ensure consistent borrower access to FFEL Program loans through the efficient and effective implementation of the LLR program.

FFEL Lender-of-Last-Resort Loan Program (5/6/08)

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Attached are the 2003, 2004, 2005, 2006 and 2007 Reserve Ratios for Guaranty Agencies.  The FY2007 ratios were calculated as follows:  GA Federal Fund balance (AR-26) plus amounts reported for allowances/other non cash charges (AR-56) divided by Original Principal Outstanding (AR-1 thru AR-12).

FY07 Reserve Ratio (4/30/08)

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The FY07 Top 100 Current Holders List is based on FY07 dollar amounts outstanding.  The dollar amount outstanding includes Stafford, PLUS, SLS and Consolidation loans.

FY07 Top 100 Current Holders of FFELP Loans (4/14/08)

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The FY07 Top 100 Consolidators List is based on FY07 dollar amounts on new guarantees.  The dollar amount of new guarantees includes only Consolidation Loans.

Top 100 Consolidating Lenders for 2007 and 2006 (4/3/08)

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Attached is the Top 100 Originators of FFELP Loans for FY07 and FY06.

Top 100 Originators of FFELP Loans - FY07 and FY06 (3/28/08)

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This letter announces a series of one-day workshops covering implementation of Final Rules published on October 29 and November 1, 2007 and the College Cost Reduction and Access Act (CCRAA) enacted Sept. 27, 2007. This letter also includes a link to Federal Student Aid's "Training for Financial Aid Professionals" web page, where you may view the workshop schedule and register for the one that best meets your needs.

Regulatory and Legislative Update (3/19/08)

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Attached is a letter giving the Department of Treasury the authority to offset payments made by one federal agency to satisfy debts owed to another federal agency.

TCS Treas 449 (2/27/08)

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This notice serves to inform lenders and servicers participating in the Federal Family Loan Program of a change of address for the submission of compliance audits.

Notice of Change of Address (2/19/08)

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This letter announces revised promissory note addenda and Plain Language Disclosures for Federal Stafford Loans and Federal PLUS Loans, and a new promissory note addendum for Federal Consolidation Loans.

Dear Colleague Letter (FP-08-02) (Word)

Addendum to the Federal Consolidation Loan Application and Promissory Note (Word)

Addendum to the Federal PLUS Loan Application and Master Promissory Note and Endorser Addendum (Word)

Federal PLUS Plain Language Disclosure (Word)

Addendum to the Federal Stafford Loan Master Promissory Note (Word)

Federal Stafford Loan Plain Language Disclosure (Word)

Addendum to the Federal Consolidation Loan Application and Promissory Note (PDF)

Addendum to the Federal PLUS Loan Application and Master Promissory Note and Endorser Addendum (PDF)

Federal PLUS Loan Plain Language Disclosure (PDF)

Addendum to the Federal Stafford Loan Master Promissory Note (PDF)

Federal Stafford Loan Plain Language Disclosure (PDF)

This letter provides guidance on the process that will be used to designate entities that meet the statutory definition of an eligible not-for-profit holder for purposes of special allowance payment (SAP) billings in the FFEL Program.

Determination of Not-For-Profit Holder Status for SAP Billing (12/28/07)

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Attached is the listing of the Guaranty Agency Reinsurance Agreement Default Status - FY07.

FY07 Trigger Report (12/20/07)

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This letter provides initial guidance to FFEL lenders on reporting changes to the quarterly Lender’s Request for Payment of Interest and Special Allowance (LaRS) as a result of the College Cost Reduction and Access Act and the Third Higher Education Extension Act of 2007.

LaRS Reporting Changes for Lenders (11/20/07)

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The Guaranty Agency Financial Report User Guide has been updated to reflect changes mandated by the College Cost Reduction and Access Act. Instruction changes can be found in Chapter 1: Guaranty Agency Financial Report, Monthly.

Guaranty Agency Financial Reporting Instruction Guide (10/25/07)

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We have posted a new Dear Colleague Letter (DCL FP-07-09) with an attachment to an earlier DCL, that provides updated guidance on the granting of loan discharges based upon the lack of or improper administration of ability to benefit tests.

Guaranty Agency Ability to Benefit Letter (9/26/07)

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Federal Student Aid is making available school gross commitment loan volume data for the Direct Loan and Federal Family Education Loan programs.  This is school gross commitment data by award year.  A Direct Loan gross commitment is an origination with a signed Promissory Note.  A FFEL gross commitment occurs when the GA guarantees a loan.  The attached spreadsheet is in Microsoft Excel format.  There are six file tabs within this Excel file.  Three files are Direct Loan for each award year, and three files are FFEL for each award year.  In addition to Award Year 2004-05 and 2005-06 data being updated, we have added data for 2006-07.  Also two footnotes have been added stating the data will be updated quarterly and what type of loan this data covers.  Each file contains the following data:

• OPEID
• School Name
• City
• State
• Number of Loans
• School Gross Commitments

For questions, contact Joe Aiello on 202-377-4002 or send an email to Joe.Aiello@ed.gov.

Direct Loan and FFEL Data for AY 2004-05, 2005-06 and 2006-07 (9/24/07)

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Attached to this announcement is a copy of a letter from Secretary of Education Margaret Spellings that will be sent to the Chief Executive Officers of all postsecondary educational institutions that participate in the FFEL Program and to the Chief Executive Officers of FFEL lenders and guaranty agencies.

Letter from Education Secretary Margaret Spellings

Attached are the procedures for NSLDS Online Enrollment.

NSLDS Online Enrollment (7/16/07)

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For questions concerning Guaranty Agency, Lender or Servicer Compliance Audits, contact the Financial Partners Eligibility and Oversight Staff at fpeno.complianceaudits@ed.gov or (202) 377-3060.