USA Funds Update

Help Your Students Avoid Scholarship Scams
Financial-aid administrators can help their students guard against scholarship scams by sharing with them some potentially phony lines in scholarship offers. Read more.

2Futuro Accepts Entries for Scholarship
2Futuro is accepting entries through Feb. 15, 2007, for a $1,000 scholarship through the 2Futuro Scholarship Sweepstakes. Students and their parents can register for the scholarship in English or in Spanish. 2Futuro is the only fully bilingual college-financing and outreach program that enables Hispanic parents and students to apply for college loans in Spanish and English. 2Futuro is a joint venture between Sallie Mae and USA Funds^®.

Operations Bulletin

Department of Education Issues Interim Final Rules for 9/11 Loan Discharge
The U.S. Department of Education issued interim final rules regarding the “9/11 discharge” of outstanding loan balances for certain Perkins, Federal Family Education Loan Program and Direct Loan Program loans. Read more.

Special-Allowance Rates Announced for Quarter Ending Dec. 31, 2006
The U.S. Department of Education has published Special-Allowance Rates for the quarter ending Dec. 31, 2006.

December-2006 Integrated Common Manual Available
The December-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 Dec. 21, 2006, by the Common Manual Governing Board. In addition, section 7.7.F of Appendix C was modified to reflect the recent change to USA Funds’ policy about school responsibility to notify borrowers of reissued disbursements. You’ll need Adobe Acrobat Reader to view the documents.

Debt-Management Perspectives

Ten Tips Assist Your Students in Identifying Mentors
USA Funds Life Skills^® offers 10 tips that financial-aid administrators can provide their upcoming spring graduates and other students, to help them prepare for their future by identifying mentors. Learn more.