Department Releases Revised Stafford, PLUS and Consolidation Documentation

In Dear Colleague Letter FP-08-02, the Department of Education released revised addenda for federal Stafford loan and PLUS loan Master Promissory Notes and the consolidation loan application and promissory note, as well as Plain Language Disclosure Statements for Stafford and PLUS loans. Because the revised documents explain aspects of the College Cost Reduction and Access Act and the Higher Education Reconciliation Act, USA Funds encourages schools and lenders to discontinue use of the previous addenda and begin using the revised forms.