Washington Report
Congress Passes Emergency Student Loan Access Legislation
The U.S. Congress has passed emergency legislation to ensure students and parents access to student loan dollars and to help curb the use of more expensive private loans. Read more.
Fed Moves to Enhance Liquidity in Student Loan Program
The Federal Reserve is taking action to ease the credit crunch that has threatened access to student loans. Learn more.
GAO: Higher Education Tax Benefit Complexity Costly to Families
A federal watchdog agency told a congressional committee that the complexity of the current tax benefits for higher education expenses costs individual American families hundreds of dollars in potential tax savings. Read more.
House Scheduled to Act on Higher Education Act Extension
The U.S. House of Representatives is expected to act this week on another extension of the Higher Education Act, the 11th extension since the 1998 reauthorization. The U.S. Senate on April 29 approved a one-month extension, until May 31, 2008, of the law that authorizes the major federal student aid programs. The action will give House and Senate conferees more time to finalize compromise legislation to reauthorize the Higher Education Act.
Debt-Management Perspectives
USA Funds Tools Help Platt College in Default Prevention
Platt College turns to USA Funds Debt Manager® and the USA Funds Cohort Analysis ToolSM as the school works to help education loan borrowers stay out of default and to reduce its cohort default rate. Learn more.
USA Funds Update
Webcasts Show How Products From USA Funds Can Help Schools and Students Succeed
Starting this month USA Funds® will offer a series of one-hour interactive webcast demonstrations to show how four different products offered by USA Funds can help schools and students. Read more.
Financial Aid Fundamentals Focus of USA Funds Summer Webcast Series
USA Funds University offers a series of webcast training sessions designed to provide new financial aid administrators, as well as experienced financial aid professionals, a basic understanding of the fundamentals of student financial aid. The series includes webcasts on a variety of topics, beginning with a May 27 federal update. Register for a webcast that is convenient for you.
Operations Bulletin
Education Department Issues New Guidance on Lender of Last Resort
The U.S. Department of Education has issued additional guidance to student loan guarantors on administering lender of last resort loans. Read the Department’s Dear Colleague Letter.
April 2008 Integrated Common Manual Available
The April 2008 Integrated Common Manual is available on the USA Funds Web site. View and print the Integrated Common Manual, including the summary of changes approved April 17, 2008, by the Common Manual Governing Board. You will need Adobe Reader to view the documents.