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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Federal Family Education Loan Program Special Allowance Rates for the Quarter Ending September 30, 2009
| Special Allowance Rates (10/7/09) | View/Download |
Attached is guidance on the new Income-Based Repayment (IBR) plan reporting codes for Parts I and II of the Lender's Interest and Special Allowance Request and Report (LaRS/799).
| Lender Bulletin - New IBR Reporting Codes for LaRS (10/6/09) |
View/Download |
Attachment A: New Web Pages for Loan Participation Program Tracking and Monitoring Process
Attachment B: New Web Reports for Tracking and Identifying Loans
Attached is the updated Guaranty Agency Financial Report (GAFR) ED Form 2000 Instruction Guide.
| Guaranty Agency Financial Report (GAFR) Instruction Guide (8/11/09) |
View/Download |
Federal Family Education Loan Program Special Allowance Rates for the Quarter Ending June 30, 2009
| Special Allowance Rates (7/16/09) | View/Download |
Newsletter #24
This newsletter addresses multiple topics related to the National Student Loan Data System (NSLDS) Enrollment Reporting process.
NSLDS Newsletter #24 (Word Version)
Lender Technical Update 2009-01
Attached are the Federal Stafford, Federal PLUS, Federal SLS, and Federal Consolidation interest rate calculations for the period July 1, 2009 - June 30, 2010.
| Revised Interest Rate Memo (7/1/09) | View/Download |
Attached are Guaranty Agency Federal and Operating Fund data as reported on the ED Form 2000 as of 9/30/xx.
| Guaranty Agency Federal and Operating Fund Data (FY 2006-2008) |
View/Download |
Federal Family Education Loan Program Special Allowance Rates for the Quarter Ending March 31, 2009.
| Special Allowance Rates (4/17/09) | View/Download |
Attached is a copy of the Top 100 Consolidating Lenders for 2008 and 2007.
| Top 100 Consolidating Lenders for 2008 and 2007 (3/31/09) | View/Download |
The Reserve Ratio for 2003, 2004 and 2005 has been calculated as follows: GA Federal Fund balance (AR-26) with amounts for 2006 & 2007 reserve recall and amounts reported for allowances/other non cash charges (AR-56) added back into the balance divided by Original Principal Outstanding (AR-1 thru AR-12). The Reserve Ratio for 2006, 2007 and 2008 has been 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).
| FY08 Reserve Ratio (3/31/09) | View/Download |
Attached is the listing of the Guaranty Agency Reinsurance Agreement Default Status - FY08.
| FY08 Trigger Report (3/19/09) | View/Download |
Attached are two documents, GEN-08-12 and FP-08-12 of the Higher Education Opportunity Act. The Higher Education Opportunity Act (Public Law 110-315) (HEOA) was enacted on August 14, 2008, and reauthorized the Higher Education Act of 1965, as amended (the HEA). The HEOA makes a number of changes to programs authorized under the HEA, authorizes new programs, and makes changes to other laws. The attachment to this letter provides a summary of most of the provisions of the HEOA, organized by subject area.
GEN-08-12 - The Higher Education Opportunity Act
FP-08-10 - The Higher Education Opportunity Act
Attached is a copy of a letter from Secretary of Education Margaret Spelling to the Chief Executive Officers of Lenders participating in the Federal Family Education Loan (FFEL) Program announcing the extension of the Ensuring Continued Access to Student Loans Act.
Extension of Authority to Purchase FFEL Program LoansWe are pleased to announce the next Internet Webinar to be conducted by the Department of Education staff on the Department's plan to purchase FFEL Program Loans and Participation Interests in FFEL Program loans under the provision of the Ensuring Continued Access to Student Act of 2008 (Pub. L.110-227). For more information, please go to www.federalstudentaid.ed.gov/ffelp.
The Department is monitoring the forecasts of Hurricane Gustav and Hanna. For more information, please go to http://www.ifap.ed.gov/disaster.html.
| Hurricane Assistance (8/29/08) | View/Download |
We are pleased to announce the next Internet Webinar to be conducted by Department of Education staff, on the Department's plans to purchase FFEL Program loans and Participation Interests in FFEL Program loans under the provisions of the Ensuring Continued Access to Student Loans Act of 2008 (Pub. L. 110-227). For more information go to www.federalstudentaid.ed.gov/ffelp.
Loan Purchase Programs Electronic Announcement #10. For further information, please go to www.federalstudentaid.ed.gov/ffelp.
Reminder - Notices of Intent to Participant in Loan Purchase Commitment Program and Loan Participation Purchase Program. For further information, please go to www.federalstudentaid.ed.gov/ffelp.
We have just posted revised agreements for the Department's Loan Purchase Programs. For information go to www.federalstudentaid.ed.gov/ffelp.
We are pleased to announce the next Internet Webinar to be conducted by Department of Education staff, on the Department's plans to purchase FFEL Program loans and Participation Interests in FFEL Program loans under the provisions of the Ensuring Continued Access to Student Loans Act of 2008 (Pub. L. 110-227). For information go to www.federalstudentaid.ed.gov/ffelp.
The next two live Internet Webinars to be conducted by the Department of Education staff, on the Department's plans to purchase FFEL Program loans and Participation Interests in FFEL Program loans under the provisions of the Ensuring Continued Access to Student Loans Act of 2008 (Pub. L. 110-227). For information, go to www.federalstudentaid.ed.gov/ffelp.
Based upon comments and suggestions received from the community we have modified the format for the Notice of Intent to Participate to account for the various entities that can participate in the Loan Purchase Programs. We also have changed the Department's contact and the submission instructions. Note that we will continue to accept submissions that use the original format. And, entities that have already submitted Notices of Intent to Participate using the original version need not re-submit using the revised form.To review the new Notice and see updated information, please go towww.federalstudentaid.ed.gov/ffelp
Federal Student Aid has posted copies of the Master Participation Agreement and Master Loan Sales Agreement (the Agreements) that must be executed by a FFELP lender/holder who wishes to participate in one or both of the Loan Programs, as appropriate. The Loan Purchase Programs were announced in a Federal Register Notice, published on July 1, 2008 [73 FR, No.127, page 37422], that provided the terms and conditions of purchase of loans under the Ensuring Continued Access to Student Loans Act of 2008. Please review the documents at www.federalstudentaid.ed.gov/ffelp
Attached is the notice "Delayed Release of Loan Purchase Mater Agreements". It has also been updated on the Ensuring Continued Access to Student Loans site under FSA Links.
Delayed Release of Loan Purchase Master Agreements
Attached is the notice "Ensuring Continued Access to Student Loans, copy of the draft electronic announcement and the Webinar Invitation.
Ensuring Continued Access to Student Loans
Attached is the FFEL Announcement.
| FFEL Lender Announcement (6/2/08) | View/Download |
Attached is the inclusion of the review of prohibited inducements in the scope of comprehensive lender reviews required under 34 CFR 682.41(c)(1).
| Non CRI Reviews (5/21/08) | View/Download |
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) | View/Download |
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) | View/Download |
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) |
View/Download |
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) | View/Download |
Attached is the Top 100 Originators of FFELP Loans for FY07 and FY06.
| Top 100 Originators of FFELP Loans-FY07 and FY06 | View/Download |
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) | View/Download |
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) | View/Download |
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) | View/Download |
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) |
View/Download |
Attached is the listing of the Guaranty Agency Reinsurance Agreement Default Status - FY07.
| FY07 Trigger Report (12/20/07) | View/Download |
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) | View/Download |
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) | View/Download |
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
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.
