USA Funds® Education Access Report will not be published on Tuesday, July 4, due to Independence Day. That week’s edition of USA Funds Education Access Report will be published on Wednesday, July 5. The newsletter will return to its regular, Tuesday publication on July 11.
USA Funds Update
USA Funds Previews NASFAA-Conference Plans
During the July 5-8, 2006, conference of the National Association of Student Financial Aid Administrators in Seattle, USA Funds will highlight the ways that it helps financial-aid professionals “open doors of opportunity” for students. Learn more.
USA Funds Updates Consumer Information to Reflect Loan-Program Changes
USA Funds has updated key consumer publications and online information to help students and parents understand the changes in education-loan terms enacted as part of the Higher Education Reconciliation Act of 2005. Read more.
All Children’s Hospital Receives EduCat Mobile Classroom From USA Funds
An EduCat mobile classroom donated by USA Funds will help patients at All Children’s Hospital in St. Petersburg, Fla., keep up with their studies during their time at the hospital. Learn more.
Operations Bulletin
Reminder: Student-Loan-Program Changes Take Effect July 1
Several key changes to the terms of the Federal Family Education Loan Program enacted as part the Higher Education Reconciliation Act of 2005 take effect July 1, 2006. As a reminder, USA Funds notes loan-program changes that are effective on that date. Read more.
New Forms Reflect Upcoming Change in PLUS-Loan Provisions
The National Council of Higher Education Loan Programs has provided an updated Default Aversion Assistance Request Form, Claim Form and Supplemental Claim Form, which include identifiers for the Federal PLUS loan for graduate and professional students. Read more.
Department Issues Guidance Regarding Implementation of HERA Provisions
To help schools ensure that they meet the provisions of the Higher Education Reconciliation Act of 2005 when determining a student’s eligibility for Title-IV aid for 2006-2007, the U.S. Department of Education issued Dear Colleague Letter GEN-06-10. The letter and attachment address seven eligibility-related issues. Learn more.
Letter Notifies Foreign Schools of Changes Resulting from HERA
The U.S. Department of Education issued to foreign schools information about changes made by the Higher Education Reconciliation Act of 2005 to the Federal Family Education Loan Program. GEN-06-11 also provides details regarding foreign-school reporting requirements. You will need Adobe Acrobat Reader to view the letter.
Department of Education Releases Guidance About Changes to FFELP Consolidation Program
On June 15, President Bush signed into law the Emergency Supplemental Appropriations Act. The new law includes provisions to repeal the single-holder rule for Federal Consolidation loans and to revise the conditions under which Federal Family Education Loan Program borrowers may obtain Federal Direct Consolidation loans. The U.S. Department of Education now has released guidance in Dear Colleague Letter GEN-06-12 concerning these changes. You can read the letter using Adobe Acrobat Reader.
Tech Talk
USA Funds Electronic Products, Services Comply With HERA Changes
As of June 26, 2006, all electronic products supported by USA Funds are updated to comply with July 1 Federal Family Education Loan Program changes stemming from the Higher Education Reconciliation Act of 2005. Learn more.