USA Funds Update

USA Funds Adds $1.3 Million to Hurricane-Relief Fund for College Students
USA Funds^® has added $1.3 million to its initial $1-million commitment to help low-income college students affected by the 2005 hurricanes. Read the announcement.

USA Funds to Accept Applications Beginning Jan. 2 for 2006 Scholarship Programs
USA Funds will accept applications online from Jan. 2, 2006, through March 1, 2006, for scholarships totaling $3.5 million to benefit low-to-moderate-income college students. Read details.

Washington Report

Legislation Reallocates Unspent Campus-Based Aid to Hurricane-Affected Schools
The U.S. Congress has approved legislation that could provide $36 million in additional federal student aid to college students affected by hurricanes Katrina and Rita. Learn more.

President Signs Extension of Higher Education Act, HEROES Act
President Bush has signed into law a three-month extension of the Higher Education Act and a two-year extension of a law that permits waivers of certain student-aid requirements for active-duty military personnel. Read more.

Tech Talk

OpenNet Enhancements Offer School-Customers Details About Loans in Process
The Oct. 24, 2005, enhancements to the OpenNet loan-delivery system will offer financial-aid administrators more-detailed information about changes to education-loan-status and disbursements. Learn more.

OpenNet to Offer Lenders Claim, Pre-Claim Data for USA Funds Guarantee
Effective Oct. 24, 2005, lenders and lender-servicers will be able to view through OpenNet pre-claim and claim information for Federal Stafford and PLUS loans  guaranteed by USA Funds. Read more.

Debt-Management Perspectives

Central Arizona College Orientation Sessions Go Beyond Basics, With USA Funds Life Skills
First-year and transfer students at Central Arizona College’s main campus learned more than the standard fare in their mandatory orientation sessions. Read more about how the campus incorporated USA Funds Life Skills^® into orientation.

Operations Bulletin

September-2005 Integrated Common Manual Available
The September-2005 Integrated Common Manual is available on the USA Funds Web site. View and print the Integrated Common Manual, including the summary of changes approved Sept. 15, 2005, by the Common Manual Governing Board. You’ll need Adobe Acrobat Reader to view the documents.

FFELP Community Advised to Continue Use of Current MPN, Deferment Forms
The U.S. Department of Education has issued guidance regarding the use of the Federal Stafford-loan Master Promissory Note, as well as deferment forms, which were scheduled to expire Sept. 30, 2005. Read more.

Department Issues New Guidance on Late-Late Disbursements and Default-Management Plans
The U.S. Department of Education has updated the fax number and contact point for requesting approval to make late disbursements of Title-IV student aid beyond the 120-day late-disbursement period. Review Dear Colleague Letter GEN-05-13 for details. The department also has updated its sample default-management plan. Review Dear Colleague Letter GEN-05-14 for additional information.