USA Funds Update

USA Funds Helps Students, Education-Finance Professionals Navigate Changing Times
USA Funds^® issued its 2006 annual report, which highlights the many ways in which USA Funds helps students, higher-education administrators and education-lending professionals navigate the challenges that confront them. Read the announcement. Download a copy of the 2006 annual report, using Adobe Acrobat Reader.

Profiles in Superior Customer Service: Following Through on Promise of Good Service
Service Coordinator Sheri Jarrell’s outstanding customer service received kudos from a lender executive vice president, who nominated her to receive a USA Funds “There for You” award. Learn more.

Washington Report

Sen. Kennedy Introduces Student Debt Relief Act
Sen. Edward Kennedy, the new chair of the U.S. Senate Committee on Health, Education, Labor, and Pensions, has introduced legislation that would, among other things, increase the maximum Pell-Grant award, cut student-loan interest rates in half, and provide additional Pell-Grant funding to schools that participate in the Federal Direct Loan Program. Read more.

Debt-Management Perspectives

USA Funds Co-Hosts Nevada Default-Prevention Workshops
In partnership with the Nevada System of Higher Education and the U.S. Department of Education, USA Funds is co-hosting two free default-prevention workshops in Nevada next week. Learn more.

Operations Bulletin

FFELP Loans Eligible for 9.5-Percent Minimum Special Allowance Rate
The U.S. Department of Education recently released Dear Colleague Letter FP-07-01. The letter addresses the requirements regarding whether a loan made or acquired with funds derived from tax-exempt financing sources is eligible for the 9.5-percent minimum special allowance.

Frequently Asked Question: Triggering Events for Increased Annual Loan Limits
USA Funds’ policy experts provide guidance about which borrowers are eligible for increased loan limits effective July 1, 2007. Read more.