USA Funds Update

USA Funds Accepts Applications for $3.5 Million in New Scholarships
USA Funds^® announces that it is accepting applications online for a total of $3.5 million in new scholarships to assist college students from low-to-moderate-income households. Read the announcement.

USA Funds Renews Support for Indiana Program That Cultivates Scholarships
More Indiana high-school students will realize their dreams of postsecondary education with the help of Indiana Dollars for Scholars and an operational support grant for the organization from USA Funds. Read more.

Reminder: Jan. 19 USA Funds Lender Forum in Indianapolis
A USA Funds Education-Lender Forum is set for Indianapolis on Jan. 19. The lender forum alerts lender-customers of the latest developments in the ever-changing education-finance marketplace. Learn more and register online.

Washington Report

Congress Ends 2005 With Flurry of Activity on Student-Aid Issues
Members of Congress and their staffs put in long hours before the holiday break in an attempt to complete work on several key pieces of legislation, including measures affecting federal student aid. Read more.

Debt-Management Perspectives

New USA Funds Life Skills Component Helps Couples Talk Frankly About Money
USA Funds has introduced a new component of its award-winning financial-literacy program, USA Funds Life Skills^®, to assist married students and their partners in communicating about money. Learn more.

Tech Talk

OpenNet Online-Loan-Counseling, Login Enhancements Offer Flexibility and Ease
USA Funds customers can take advantage of two recent enhancements to the Online Counseling tool in the OpenNet loan-delivery system. Read more.

Operations Bulletin

December-2005 Integrated Common Manual Available
The December-2005 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. 15, 2005, by the Common Manual Governing Board. You’ll need Adobe Acrobat Reader to view the documents.

Special-Allowance Rates Announced for Quarter Ending Dec. 31, 2005
The U.S. Department of Education has published Special-Allowance Rates for the quarter ending Dec. 31, 2005. You’ll need Adobe Acrobat Reader to view the latest rates.

Interest Rate Set for Pre-1987 PLUS/SLS Loans
On Dec. 23, 2005, the U.S. Department of Education announced that the variable interest rate for PLUS/SLS loans made prior to 1987 is 6.85 percent. The interest rate for these loans is determined by a method that existed prior to the Higher Education Technical Amendments Act of 1987, using the 91-day Treasury Bill to calculate the applicable annual rate. You can view the Department’s announcement using Adobe Acrobat Reader.