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.