USA Funds Update

Grant From USA Funds Supports Circle City Classic Youth Programs
USA Funds^® recently awarded a $50,000 grant to support the Circle City Classic Youth Initiative, which prepares students for college by providing educational tools and scholarship information. Learn more.

Hurricane-Affected Elementary Schools in Louisiana and Mississippi Get Help
For the second year, proceeds from a series of events coordinated by USA Funds employees will help elementary schools affected by Hurricane Katrina. Read more.

USA Funds Staff Profile: Changing the World Through Philanthropic Work
A “life-changing experience” altered the career path of Alicia Roberts, USA Funds assistant manager of philanthropy, from one focused primarily on making money to one whose main focus is on helping others. Read more.

Operations Bulletin

Department Issues Final Rules on Student-Aid Changes, New Grant Programs
The U.S. Department of Education has published final regulations to implement changes in federal student-aid programs resulting from the Higher Education Reconciliation Act of 2005 and other recently enacted legislation. The Department also published final regulations for the 2007-2008 award year for the two new federal student grant programs that were enacted as part of HERA. Learn more.

Frequently Asked Question: Consolidation Eligibility for Loans Whose Borrowers Are In School
USA Funds’ policy experts address the issue of whether borrowers in the Federal Family Education Loan Program can consolidate their loans while they still are in school. Read more.

October-2006 Integrated Common Manual Available
The October-2006 Integrated Common Manual is available on the USA Funds Web site. View and print the Integrated Common Manual, including the summary of changes approved Oct. 19, 2006, by the Common Manual Governing Board. You’ll need Adobe Acrobat Reader to view the documents.

Common Manual Policy Committee Notes Correction
The Common Manual Policy Committee noted an error in the October 2006 publication of the annual Common Manual. The error is in Figure 11-1, the Deferment Eligibility Chart. Special Common Bulletin batch 131, proposal 881 describes the error and provides the corrected Figure 11-1.

Debt-Management Perspectives

USA Funds Default-Prevention Council Member Stresses Responsible Repayment of Student Loans
As financial-aid director of Jackson State University, B.J. Moncure encourages her students to look at education loans as the last option for financing their education. Learn more.