USA Funds Update

Report Highlights Guarantor's Multiple Roles in Support of Higher Education
USA Funds^® has issued its annual report of services in support of preparation for, access to and success in higher education during the past year. “How We Serve” highlights the key roles that USA Funds plays in helping families prepare and pay for, and complete postsecondary education. Read more.

Reminder: Applications Due Feb. 16 for USA Funds Access to Education Scholarships
The deadline for students to apply for USA Funds Access to Education Scholarships^® is approaching. Scholarship program details and answers to frequently asked questions are available on the USA Funds Web site. Students must submit applications online by Feb. 16.

Online Course Offers Refresher of FAFSA-Filing Basics
With College Goal Sunday events under way and students completing the Free Application for Federal Student Aid, financial aid administrators may find it helpful to review the basics of filing the FAFSA. The USA Funds online course “Understanding the FAFSA” reviews the application process for those who plan to assist students with their applications. Read more.

Washington Report

House Approves Stimulus Package With Student Aid Increases; Senate Version Offers Less in Student Benefits
The U.S. House of Representatives has approved an economic stimulus bill that offers increases in several student aid programs. Meanwhile, U.S. Senate committees have approved stimulus bills that offer smaller increases in student financial aid. Learn more.

Debt-Management Perspectives

USA Funds Cohort Analysis Tool Simplifies Review of Loan Data
Next week’s release of draft cohort default rates signals the time to review borrower loan data for errors that may affect final default rates. The USA Funds Cohort Analysis Tool^SM helps schools identify borrower records in the Electronic Loan Record Detail Report that may need to be corrected — saving you time in identifying potential cohort challenges. Read more.

Operations Bulletin

January 2009 Integrated Common Manual Available
The January 2009 Integrated Common Manual is available on the USA Funds Web site. View and print the Integrated Common Manual, including the summary of changes approved Jan. 15, 2009, by the Common Manual Governing Board. You will need Adobe Reader to access the documents.

New Poverty Guidelines Announced
The U.S. Department of Health and Human Services has released the latest poverty guidelines, updated to account for 2008’s increase in prices as measured by the Consumer Price Index. The new poverty guideline figure for a family of two is $14,570 for the 48 contiguous states and the District of Columbia. In Alaska, the figure is $18,210, and, in Hawaii, the figure is $16,760. These updates will affect Question 4B in Section Two of the Economic Hardship Deferment Request form. The Federal Family Education Loan Program community is working with the U.S. Department of Education to amend this form. USA Funds will provide the updated version on its Web site as soon as the Department approves and publishes it.