Operations Bulletin

Department Cancels Parent PLUS Loan Auction
The U.S. Department of Education has announced that, due to a lack of lender participation, it is canceling a scheduled auction of the rights to make parent PLUS loans. Read more.

Submit LVCs for Single FFELP Consolidation Loans to Be Consolidated Into FDLP
The Department of Education notes that, because of recent changes to the Higher Education Act of 1965, all loan holders must submit completed Loan Verification Certificates to the Federal Direct Loan Program for any borrower who has applied to consolidate a single Federal Family Education Loan Program Consolidation loan into the Federal Direct Loan Program. The Department issued the guidance in Dear Colleague Letter FP-09-03, available on the USA Funds^® Web site using Adobe Reader.

USA Funds Discontinues Paper SSCRs
USA Funds no longer will supply paper Student Status Confirmation Reports to domestic schools. Learn more.

USA Funds Update

One Thousand Campuses Now Connected to USA Funds Through Web Portal
USA Funds announces that 1,000 college campuses now are connected to its education loan products and services through its USA Funds Connection^® Web portal. Read more.

USA Funds Staff Profile: Putting Experience to Work for Borrowers, Taxpayers
Terri Cooper’s career at USA Funds and with its guarantor-servicer spans more than two decades and seven business areas. Those many years of experience come in handy in her current role as investigations specialist at USA Funds. Learn more.

Debt-Management Perspectives

Student Retention Expert: Embrace ‘I-4’ Paradigm for Financial Literacy Success
In a recent symposium sponsored by USA Funds, retention specialist Lana Low encouraged participants to embrace the “I-4 paradigm” to enhance school financial literacy programs. Read more.