Dear Colleague Letter Summarizes College Cost Reduction and Access Act

The U.S. Department of Education released GEN-08-01. The letter summarizes the major changes to the Title IV loan and grant programs made by the College Cost Reduction and Access Act, and provides clarification and expanded guidance to assist lenders and schools in implementing the CCRAA changes. The letter also notes triggering events — an important tool in establishing implementation procedures and systems — for the CCRAA provisions. Read the letter on the USA Funds Web site using Adobe Reader.