Washington Report

Budget Bill Could Open the Door to Major Cuts in the FFELP
The U.S. Congress has passed a fiscal-2008 budget resolution that could open the door to billions of dollars in cuts to the Federal Family Education Loan Program, the largest federal student-aid program. Learn more.

USA Funds Update

Indiana Students and Their Heroes Honored in USA Funds-Sponsored Program
USA Funds^® provided funding for scholarships awarded through the Hoosier Heroes program, which honors selected Indiana high-school students and those who have made a difference in their lives. Read more.

Publications Select Recipients of USA Funds-Sponsored Scholarships
Recipients recently were selected for scholarships that USA Funds will sponsor as part of its support of Next Indiana: A Guide to Life After High School and GRAD magazines. Read more.

Debt-Management Perspectives

USA Funds Debt Manager Enhancements Simplify Communication With Borrowers
The May 21 release of USA Funds Debt Manager^® includes several new features that improve the way that letters and e-mails are generated for individual borrowers, offer new functionality to produce reference letters, and provide greater ability to store international addresses for borrowers and references. Learn more.

Tech Talk

Scheduled Maintenance Will Take Online Services Off-Line During Memorial Day Weekend
Scheduled enhancements to data networks that support many online services to USA Funds’ customers will result in outages of those Web services during a 10-hour period of the Memorial Day weekend. The following online services will not be available between 9 p.m. Eastern time Saturday, May 26, and 7 a.m. Eastern time Sunday, May 27: USA Funds’ Web site, OpenNet, USA Funds Connection^®, USA Funds Debt Manager, USA Funds Loan Counselor^SM entrance and exit counseling, and MEDLOANS Online Loan Portfolio.

Operations Bulletin

Department Offers Additional Guidance on Loan Verification Certificates
The U.S. Department of Education issued guidance explaining additional exceptions to the requirement that a loan holder complete a Loan Verification Certificate when it receives the LVC from a consolidating lender. Read more.