USA Funds® Education Access Report is being published on Wednesday this week because of Independence Day on Tuesday. The newsletter will return to its regular, Tuesday publication on July 11.
Debt-Management Perspectives
USA Funds Debt Manager Slashes Ivy Tech Bloomington’s Default Rate
Calling the tool “another staff person in our office,” the financial-aid director of Ivy Tech Community College in Bloomington, Ind., praises USA Funds Debt Manager® for its role in the campus’ successful effort to lower its default rate. Learn more.
Washington Report
President Signs Another Extension of Higher Education Act
President Bush has signed into law a bill that extends until Sept. 30, 2006, programs authorized under the Higher Education Act and not already reauthorized under the Higher Education Reconciliation Act of 2005. A previous extension of the HEA was due to expire June 30. The U.S. House on March 30 passed the College Access and Opportunity Act to reauthorize the remaining provisions of the Higher Education Act, but there has been no action in the U.S. Senate.
Operations Bulletin
Department Issues New Consolidation-Loan MPN Addendum
The U.S. Department of Education issued a revised addendum to the Federal Consolidation Loan Application and Promissory Note. Learn more.
Lenders Should Continue to Follow USA Funds’ Forgery Policy
USA Funds advises its lender-customers to continue to follow USA Funds’ forgery policy until the U.S. Department of Education issues regulations regarding the new false-certification discharge due to identity theft. Read more.
New Rates Set for ‘Old’ PLUS Loans
Interest rates effective July 1, 2006, through June 30, 2007, on Federal PLUS loans disbursed between Oct. 1, 1992, and June 30, 1998, have been determined. The new rate, based on the one-year constant maturity Treasury yield for the last calendar week ending on or before June 26, is 8.34 percent. View a summary table of Federal Stafford- and PLUS-loan rates or a detailed table of interest rates for all Federal Family Education Loan Program loans. You will need Adobe Acrobat Reader to access the table of all FFELP-loan rates.
USA Funds Involved in 2006-2007 NCHELP Committees, Workgroups
USA Funds continues to support student-loan-community initiatives and activities through staff involvement with the National Council of Higher Education Loan Programs. Learn more.
USA Funds Update
USA Funds Staff Profile: Translating ‘Techie’ Talk to Benefit Customers
Barb Davies’ job as USA Funds product market strategist requires her to speak the language of the technologically savvy as well as the non-technologically savvy to help ensure that USA Funds-supported electronic products and services meet customers’ needs. Read more.