USA Funds Update

Chronicle of Higher Education Misrepresents USA Funds-Sallie Mae Relationship
USA Funds^® Senior Vice President, Customer Relations, Denise Feser advises USA Funds customers of the facts about USA Funds contractual relationship with Sallie Mae. Read more.

USA Funds’ Student-Loan Boot Camp Scheduled for June 20-21
USA Funds will offer its Student-Loan Boot Camp for education lenders in Indianapolis on June 20-21. Student-Loan Boot Camp offers a comprehensive overview of the student-loan process. Read more about Student-Loan Boot Camp and register online.

Lenders Need to Take Steps by May 15 to Continue Federal Default Fee Buydowns
USA Funds reminds its lender-customers that they must take steps by May 15 if they intend to continue federal default fee buydowns on USA Funds-guaranteed loans beyond June 30. Effective July 1, USA Funds will pay the 1-percent federal default fee only on Grad PLUS loans that it guarantees for lenders that buy down the federal default fees on Stafford loans guaranteed by USA Funds. Read more.

Debt-Management Perspectives

USA Funds Invites Entries for Excellence in Debt Management Awards
USA Funds announces that it is accepting entries from postsecondary institutions for its annual Excellence in Debt Management Awards. Read more.

Tech Talk

OpenNet Tip: Using School Reference Tools
The OpenNet loan-delivery system offers online reference guides and tools to make using OpenNet easier for schools. Learn more.

Operations Bulletin

April-2007 Integrated Common Manual Available
The April-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 April 19, 2007, by the Common Manual Governing Board. Note that USA Funds is enforcing policy 955 for annual Stafford-loan limits effective for loans with first disbursements on or after July 1, 2007, and loan-period end dates on or after July 1, 2007. You will need Adobe Reader to view the documents.