From ClientRelations at ogslp.org Fri May 4 14:48:27 2001 From: ClientRelations at ogslp.org (Client Relations) Date: Tue Mar 23 20:17:12 2004 Subject: [Lender] OGSLP Interim Executive Director Message-ID: <67B1776185FFD311926100805FC11F9D9717FE@handel.ogslp.org> The Oklahoma Guaranteed Student Loan Program (OGSLP), a division of the Oklahoma State Regents for Higher Education, announces the appointment of Mary Mowdy as Interim Executive Director of OGSLP. Mary is the ideal person to lead the continued service of this agency during this national search period for a permanent director. Her extensive background in the financial aid community and experience gained while serving as Associate Director for OGSLP for the past six years will prove invaluable during this interim period. Mary will continue to lead OGSLP in providing the high level of service that students and clients have come to expect. Please join us in welcoming Mary to this important role. From mmowdy at ogslp.org Tue May 15 11:18:46 2001 From: mmowdy at ogslp.org (Mowdy, Mary) Date: Tue Mar 23 20:17:12 2004 Subject: [Lender] Regents' Support of Mutual Benefit Corporation Message-ID: <67B1776185FFD311926100805FC11F9D971911@HANDEL> I am posting this on behalf of Chancellor Brisch **************************************************************************** ****** Recently, the Oklahoma Guaranteed Student Loan Program joined a mutual benefit corporation (MBC) known as Oklahoma Access to Knowledge, Inc. (OAK). The Oklahoma State Regents for Higher Education are fully supportive of this membership and of the selection of their first activity known as MYOAK, a Web-based loan processing system. Conceptually, the MBC framework will allow members to rapidly respond to marketplace needs while reducing costs and duplicative efforts. As a guarantor in a competitive market, OGSLP must be poised to provide any product or service desired by schools. The MYOAK product with its unique and attractive features is a welcome addition to a long list of loan processing solutions offered by the agency. By choosing MYOAK, Oklahoma schools are able to continue their strong relationships with local lenders without the complexities of multiple lender platforms. This open loan-processing system delivers a single Web-based data flow built on industry standards. Other attractive features of the product include a deluxe on-line award letter presentment feature and data mapping resources provided by the MBC. Added value products based on industry standards are an integral part of OGSLP's mission to deliver solutions that work for Oklahoma schools, lenders and borrowers. Mary Mowdy, Interim Executive Director Oklahoma Guaranteed Student Loan Program P. O. Box 3000, Oklahoma City, OK 73101-3000 405/234-4310 800-247-0420 fax: 405/234-4565 agency fax: 405/234-4390 From ClientRelations at ogslp.org Mon May 21 16:30:35 2001 From: ClientRelations at ogslp.org (Client Relations) Date: Tue Mar 23 20:17:12 2004 Subject: [Lender] Corrected Common Manual Update (CM-53) Message-ID: <67B1776185FFD311926100805FC11F9D8B6F52@HANDEL> > OGSLP would like to notify you that shortly after the Common Manual Update > (CM-53) was mailed to clients, the Common Manual Governing Board notified > guarantors that a couple of minor omissions had been discovered from the > bulletin language. > > Listed below are the omissions and attached is the revised update (CM-53) > for your reference (see attached PDF file). This corrected update has also > been posted to OGSLP's web site. If you have any questions, please contact > Client Relations. Thank you. > > Corrections to CM-53: > > Cohort Default Rates: add the following to the end of the text: > > Appendix G has been updated to replace the term, "Weighted Average Cohort > Rate" with the term > now in use by the Department, the "Dual-Program Cohort Default Rate." The > definition of "Cohort > Default Rate" has also been updated. > > Affected Sections: add Appendix G > > > Financial Aid Histories and the Delivery of Loan Proceeds > Affected Sections: add 5.2.E. and 6.3.I. > > > Ineligible Borrower Claims > Affected Sections: add CCI 8.6.A. > > > <> > > > Client Relations > OGSLP > (405) 234-4329 or 1-800-247-0420 > Fax - (405) 234-4459 > clientrelations@ogslp.org > > -------------- next part -------------- A non-text attachment was scrubbed... Name: CM53.pdf Type: application/octet-stream Size: 45539 bytes Desc: not available Url : http://lists.onenet.net/pipermail/lender/attachments/20010521/e689cbdf/CM53.obj From ClientRelations at ogslp.org Tue May 29 16:51:58 2001 From: ClientRelations at ogslp.org (Client Relations) Date: Tue Mar 23 20:17:12 2004 Subject: [Lender] Netscape Upgrade Message-ID: <67B1776185FFD311926100805FC11F9D010646DE@HANDEL> Ensure Success with Your NetWizardTM Applications! Upgrade to Netscape Version 4.7 and continue to use the reporting and printing functions of NetWizard. Recently, Netscape announced the retirement of versions 4.05 and earlier. For optimal performance with NetWizard, we recommend that you use Netscape version 4.7. Another version of Netscape - 6.0 - is available; however, we have discovered incompatibilities with our NetWizard features. In particular, Netscape 6.0 impacts Document Direct for the Internet, a tool that is used to view reports, and Adobe Acrobat, a program that is necessary when printing from NetWizard. For these reasons, we encourage you to use Netscape version 4.7. Instructions and materials for upgrading your Netscape browser are available online at no cost. For more information, simply visit http://home.netscape.com/products/index.html?cp=bridpt and follow the instructions to upgrade to version 4.7. If you have any questions about how to download Netscape version 4.7, please call OGSLP Client Relations at (800)-247-0420 or (405)234-4329. From ClientRelations at ogslp.org Thu May 31 16:07:46 2001 From: ClientRelations at ogslp.org (Client Relations) Date: Tue Mar 23 20:17:13 2004 Subject: [Lender] New Deferment and Discharge Forms Message-ID: <67B1776185FFD311926100805FC11F9D8B6F95@HANDEL> > OGSLP would like to advise you that the U.S. Department of Education (ED) > recently approved new deferment and cancellations forms. Approval of these > forms is found in GEN-01-07 (see attached link). These technical changes > were made to the forms as a result of final regulations that will be in > effect on July 1, 2001. > > The new forms must be used when providing deferment applications to > borrowers on or after July 1, 2001. If a loan holder receives a previously > approved form after that date, the loan holder should process that form. > The loan holder is responsible for being certain that the previously > approved form is processed using the applicable regulatory provisions. > > Just as a reminder, no changes to, deletions from, or additions to the > prescribed language in these forms will be permitted. Printing > instructions remain the same as when the forms were originally distributed > to the community. All eight deferment forms have been modified in addition > to the two cancellations forms, which are outlined below. You may link to > these forms via GEN-01-07 (see attached link): > > Deferment forms: > - Education Related > - In-School > - Parental Leave / Working Mother > - PLUS Borrower with Dependent Student > - Public Service > - Temporary Total Disability > - Unemployment > - Economic Hardship > > Discharge forms: > - Loan Discharge Application: False Certification of Ability to Benefit > - Total and Permanent Disability Cancellation Request > > > If you have any questions, please contact OGSLP's Client Relations > Department. Thank you. > > <> > > Client Relations > OGSLP > (405) 234-4329 or 1-800-247-0420 > Fax - (405) 234-4459 > clientrelations@ogslp.org > -------------- next part -------------- A non-text attachment was scrubbed... Name: IFAP - Dear Colleague Letter.htm Type: application/octet-stream Size: 7469 bytes Desc: not available Url : http://lists.onenet.net/pipermail/lender/attachments/20010531/c3f8d72e/IFAP-DearColleagueLetter.obj From ClientRelations at ogslp.org Thu May 31 16:43:53 2001 From: ClientRelations at ogslp.org (Client Relations) Date: Tue Mar 23 20:17:13 2004 Subject: [Lender] Electronic Signature Overview Message-ID: <67B1776185FFD311926100805FC11F9D8B6F99@HANDEL> Although this topic has been discussed for many months, it is evident that Electronic Signatures will be implemented for both FFELP and the FDSLP loan programs. The U.S. Department of Education (DE) has been busy releasing new information concerning the implementation of the electronic signature. Additionally, DE has announced it's plans to implement a PIN-based electronic signature program for Direct Loans by July 2nd of this year, and will allow FFELP participants to implement within the same timeframe. OGSLP would like to provide you with highlights of the most recent developments. Release of Dear Partner Letter with Electronic Signature Standards: Earlier this month, DE released GEN-01-06, informing the student financial aid community that as a result of the recent passage of the Electronic Signatures in Global and National Commerce Act (E-Sign Act), lenders and borrowers will soon have the option of using electronic promissory notes and signatures. As part of the letter, DE provided the "Standards for Electronic Signatures in Electronic Student Loan Transactions (Standards)." These Standards provide guidance to FFELP participants regarding the use of electronic signatures in conducting student loan transactions, including the use of electronic signatures for signing loan promissory notes. Usage of the Standards is voluntary and lenders are free to develop their own standards to protect the enforceability of their loans. However, DE has stated that lenders who use the their Standards will be protected from the loss of federal benefits on a loan if the loan is determined to be legally unenforceable by a court based solely on the processes used for the electronic signature or related records. For your reference, listed below is a link to GEN-01-06 that includes the Electronic Signature Standards. http://www.ifap.ed.gov/dpcletters/gen0106.html Town Hall Meeting: Several of the industry associations sponsored a joint Town Hall Meeting on Electronic Signatures on May 3rd. During this meeting, DE advised that regulations will not be issued at this time. They believe that the "Standards for Electronic Signatures in Electronic Student Loan Transactions" provides sufficient guidance to FFELP participants. Discussion during the meeting included the topic of authentication. The Standards require lenders to confirm the borrower's identity through an authentication process. This process is made available through DE's contractor, NCS Pearson. Expected charges for this authentication process for low volume users (less than 500 thousand requests per year) has been reduced from $0.28 to $0.25 per transaction. Note: The attached link leads to a set of Questions and Answers from the meeting that is posted to NCHELP's web site. This site contains an entire section devoted to progress on Electronic Signatures including DE's presentation, information provided by NCS Pearson (DE's contractor for the project) and FFELP Community Comments on the Standards. http://www.nchelp.org/esign/esignQ&A.htm More information... As you can see, much is going on with this topic. It is yet to be seen whether FFELP participants will choose to use the PIN model provided by DE or choose to implement electronic signatures using their own methodology. One major issue is the requirement that the PIN be mailed to the borrower, potentially lengthening the application process. (see Electronic Standards for more in depth information regarding the overall process). OGSLP expects much to develop on this subject over the next several weeks and will continue to keep you advised.. The topic is also to be discussed at various industry conferences including the NCHELP Spring Convention scheduled for the first week of June. OGSLP staff will be present and will pass on all pertinent information as we receive it. However, in the interim, if you have any questions or are unable to access any of the attached documents, please contact Client Relations at (405) 234-4329 or 1-800-247-0420 or via email at clientrelations@ogslp.org. Client Relations OGSLP (405) 234-4329 or 1-800-247-0420 Fax - (405) 234-4459 clientrelations@ogslp.org