Washington Report

White House Budget Would Fund Pell-Grant Increase by Eliminating Other Aid Programs, Cutting Billions From the FFELP
President Bush has submitted a proposed fiscal-2008 federal budget that calls for the largest funding increase ever in the Pell-Grant program, but pays for that increase by eliminating other student-aid programs and cutting billion of dollars from the Federal Family Education Loan Program. Learn more.

House Approves Measure With $260 Pell-Grant Increase
The U.S. House of Representatives has approved a fiscal-2007 funding resolution that calls for a $260 increase in the maximum Pell-Grant award for the 2007-2008 award year. Read more.

USA Funds Update

Reminder: Applications Due Feb. 15 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 on the USA Funds Web site. Students must submit applications online by Feb. 15.

Scholarships Help Student Fund Medical School
A renewable award through the USA Funds Access to Education Scholarships program is helping Kimberly Montez, a student at Stanford University School of Medicine, toward her goal of becoming a pediatrician and role model. Read more.

Debt-Management Perspectives

Online Tool Can Help Students Resolve Delinquent and Defaulted Loans
USA Funds reminds financial-aid professionals that borrowers who are delinquent or in default can access an online tool from USA Funds, www.loanpaymentsolutions.org, which borrowers can use to determine their loans’ status and explore repayment options. Learn more.

Operations Bulletin

2007 Poverty Guidelines Released
The U.S. Department of Health and Human Services has issued the latest poverty guidelines, effective for the 2007 calendar year. The 2007 poverty-guideline figure for a family of two is $13,690 for the 48 contiguous states and the District of Columbia. In Alaska, the figure is $17,120, and, in Hawaii, the figure is $15,750. The new figures affect Question 4B in Section Two of the Economic Hardship Deferment Request form. Lenders now should use this newly revised form for borrowers requesting economic-hardship deferment. You will need Adobe Acrobat Reader to view the new form and the poverty guidelines.

January-2007 Integrated Common Manual Available
The January-2007 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. 18, 2007, by the Common Manual Governing Board. You’ll need Adobe Acrobat Reader to view the documents.