Reminder: Processing New Stafford Loan Limits

USA Funds^®’ loan processing system was updated in May to accommodate higher unsubsidized Stafford loan limits authorized by the Ensuring Continued Access to Student Loans Act of 2008. The higher limits are effective for loans first disbursed on or after July 1.

USA Funds advises schools to be cautious when sending loans that are affected by the new loan limits. In order to ensure that loans with the increased loan limits are processed correctly, schools should send loans with a first disbursement date prior to July 1, 2008, before sending loans that will be disbursed after July 1, 2008. 

Ideally, schools should submit their loan volume in the following order to process with the correct loan limits.

• Loans with a disbursement date prior to July 1, 2008.
• Loans with the same or overlapping loan periods for the new increased limits.
• Loans with a disbursement date after July 1, 2008

For additional information, contact your USA Funds Services representative.

You will need Adobe Reader to access the loan limits table from the USA Funds Web site.