July 12, 2009
In a January 30, 2009 Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site, we provided customer service contact information for Federal Family Education Loan (FFEL) Program loans that the Department of Education (the Department) purchases from FFEL loan holders. Through methods commonly referred to as “PUT” by FFEL loan [...]

June 17, 2009
The Department awarded Title IV Student Loan Management/Servicing contracts to AES/PHEAA of Harrisburg, Pennsylvania; Great Lakes Education Loan Services, Inc. of Madison, Wisconsin; Nelnet, Inc. of Lincoln, Nebraska; and Sallie Mae  Corporation of Reston, Virginia. The award of these contracts provides the Department with the capacity necessary to support anticipated increases in the [...]

The Higher Education Opportunity Act of 2008 (HEOA) requires institutions to post a net price calculator (NPC) on their web sites by August 2011. The National Center for Education Statistics (NCES) is required to provide a template for this calculator by August 2009. The HEOA permits institutions to use the net price calculator developed by [...]

Beginning 7/1/09 federal student loan borrowers can take advantage of the new Income Based Repayment (IBR) Option available to assist with repayment. Borrowers with high debt and lower income levels can benefi t from this option especially during these economic times. Borrowers also pursuing careers in public service can benefi t from this option.
Monthly payments [...]

HEOA section 480(j)(1) of the Higher Education Act was originally changed to exclude veterans education benefits  as an estimated financial aid resource effective 7/1/2010.   On 7/1/2009 President Obama signed H.R. 1777 making technical corrections to move the effective date to 7/1/2009 for the 2009-2010 award year.  Institutions may no longer consider any Federal veterans education [...]