Operations Bulletin

Department Releases Loan Purchase, Participation Agreements
The U.S. Department has published the agreements lenders and loan holders must execute to participate in the Department’s loan sale or loan participation programs. The programs were authorized by the Ensuring Continued Access to Student Loans Act of 2008 to ensure funding for Federal Family Education Loan Program loans for the 2008-2009 academic year.

2008 Annual Electronic Common Manual Now Available
The 2008 annual update to the Electronic Common Manual now is available on the USA Funds^® Web site. The updated manual incorporates changes approved during the past year by the Common Manual Governing Board. You’ll need Adobe Reader to view and print the Common Manual.

New Teacher Loan Forgiveness Application, Forbearance Forms Available
The U.S. Department of Education has announced that new versions of the Teacher Loan Forgiveness Application and Teacher Loan Forgiveness Forbearance Request Form have been approved. The new forms may be distributed to borrowers effective immediately and must be distributed to borrowers beginning Jan. 1, 2009, although the previous versions of the forms still may be processed after that date.

USA Funds Involved in 2008-2009 NCHELP, Common Manual Committees
USA Funds continues to support student loan community initiatives and activities through staff involvement with the National Council of Higher Education Loan Programs and the Common Manual initiative. Learn more.

USA Funds Update

USA Funds Staff Profile: Letting Aid Administrators Know They're 'Not Alone'
As USA Funds’ customer relations manager for California, Ron Lee prides himself on “taking ownership” and addressing areas of particular concern to postsecondary institutions in the state. Read more.

Webcasts Address Graduate and Professional Student Loan Issues
Upcoming webcasts will address student loan issues of interest to financial aid professionals at graduate and professional schools. Read more.

USA Funds Awards Grant to Red Cross to Assist Indiana Storm, Flood Victims
USA Funds has announced a $25,000 grant to the American Red Cross of Greater Indianapolis to support relief and recovery efforts in the wake of severe storms, tornados and flooding in Indiana. Read the announcement.

Tech Talk

Postsecondary Electronic Standards Council Elects Board, Appoints Officers
The board of directors of the Postsecondary Electronic Standards Council recently elected new and incumbent members to the board. Brian Allison, USA Funds vice president of technology initiatives was re-elected to the board to serve a two-year term. Read the PESC announcement, which lists all members of the new board of directors. You'll need Adobe Reader to view the announcement.