Washington Report

House Panel Approves ‘Borrower-Choice’ Loan-Consolidation Rates
Under legislation approved by a U.S. House committee, federal education-loan borrowers would have a choice of variable or fixed interest rates when they consolidation their loans. Read more.

USA Funds Update

New Online Courses Highlight Key Federal Student-Aid Programs
USA Funds^® has added five new online-learning courses to help financial-aid professionals better understand the parameters for administering federal financial-aid programs. Read the announcement.

USA Funds Supports Indiana Black Expo Youth Summit and Back-to-School Rallies
USA Funds has provided financial support for Indiana Black Expo’s educational initiatives for youth, including its annual Youth Summit and back-to-school rallies in 11 Indiana cities. Read more.

Debt-Management Perspectives

USA Funds Workshop Helps Voorhees College Build on Retention Plan
A recent USA Funds retention workshop held at Voorhees College helped participants understand the importance of total campus involvement for successful campus-retention programs. Learn more.

Operations Bulletin

Department Clarifies Criteria for Increased Teacher-Loan-Forgiveness Amounts
The U.S. Department of Education recently published clarification regarding the five years of teaching service necessary for eligibility for increased teacher-loan forgiveness as a highly qualified teacher. Teachers interested in applying for the increased loan-forgiveness amount of $17,500 must begin their qualifying teaching period on or after Jan. 8, 2002 — the date the No Child Left Behind Act was signed into law. Financial-aid administrators can direct their students to the updated Teacher Loan Forgiveness page on the USA Funds Web site for more information about qualification criteria. In addition, financial-aid administrators can find more details about teacher-loan forgiveness from a list of commonly asked questions and answers posted on the National Council of Higher Education Loan Program’s Web site.