USA Funds Update

USA Funds Awards $400,000 to National Scholarship Groups
USA Funds^® announces $400,000 in contributions to five national scholarship organizations that promote access to higher education for minority students. Read more.

USA Funds Lists Top-100 Lenders
USA Funds lists the top-100 lenders of USA Funds-guaranteed loans through October 2007. Read the list.

USA Funds’ Latest Lender Disclosure Statement Available
USA Funds has posted its updated Disclosure Statement to the USA Funds Web site. The statement is up to date with financial information through fiscal 2007 for lenders and secondary markets to use for financing activities.

USA Funds Staff Profile: Keeping Everyone Functioning
Karen Backus, executive assistant to USA Funds President and CEO Carl Dalstrom, says she encounters many different types of responsibilities and people as she “strives to keep everyone functioning.” Learn more.

Operations Bulletin

Final Regulations Revise Definition of Payment Period
USA Funds’ policy advisers provide a summary of the revised definition of “payment period” as it applies to certifying Federal Family Education Loan Program Stafford and PLUS loans. Read more.

Department Offers Guidance on LaRS Reporting Changes
In Dear Colleague Letter FP-07-11, the U.S. Department of Education released guidance about changes to the reporting process for the Lender’s Request for Payment of Interest and Special Allowance. Changes to the reporting process are a result of the College Cost Reduction and Access Act and the extension of the Higher Education Act. You will need Adobe Reader to view and print the letter on USA Funds’ Web site.

Frequently Asked Question: Handling FFELP Loans Issued for Borrower in Same Loan Period at Different Schools
Policy experts from USA Funds provide guidance about school and borrower responsibilities in cases in which a borrower receives FFELP loans at more than one school during the same loan period. Learn more.