Debt-Management Perspectives
USA Funds Default-Prevention Council Member Delivers Personal Attention to Students
Martha Ramos, of the Fashion Institute of Design and Merchandising, believes so strongly in educating students about their student loans that she’s personally involved in each student’s entrance- and exit loan counseling. Learn more.
Operations Bulletin
Education Department Plans Negotiated Rule-Making on Student-Aid Regulations
The U.S. Department of Education has announced it will establish up to four negotiated rule-making panels to consider proposed rules governing federal student-aid programs. Read more.
NSLDS Enhancement Adds Lender-Servicer Information
The National Student Loan Data System announced that it has enhanced the Loan History page of its Financial Aid Professionals Web site. Effective Aug. 16, 2006, in cases in which a loan is being serviced by a lender-servicer, the Loan Summary section displays the name and code of the servicer. Previously, the section displayed information about the lender instead of the servicer.
July-2006 Common Manual Changes Announced
The July-2006 Integrated Common Manual is available on the USA Funds® Web site. View and print the Integrated Common Manual, including the summary of changes approved July 27, 2006, by the Common Manual Governing Board. You will need Adobe Acrobat Reader to access these documents.
Program-Review Tip: Document Reasons for Delays in Education-Loan Delivery
USA Funds’ policy-and-compliance experts encourage schools to document the reasons for any delays in delivery of education-loan proceeds to students. Read more.
USA Funds Update
Reminder: Two USA Funds Lender Forums in September
Two USA Funds Education-Lender Forums are set for September. The forums, which alert lender-customers of the latest developments in the ever-changing education-finance marketplace, will be in the Boston area on Sept. 19 and in Baltimore on Sept. 20. Learn more and register online for the September forums.
Washington Report
President Makes 529-Plan-Distribution Tax Exemption Permanent
President Bush has signed into law a bill that makes permanent the federal tax exemption for distributions from so-called Section-529 college savings plans. The tax exemption originally was scheduled to expire in 2010. Section-529 plans allow investors to save money in special accounts in which the earnings grow income-tax deferred and, when used to pay for “qualified higher education expenses,” will be federal income-tax free.