From redington at ogslp.org Tue Nov 4 17:10:40 2008 From: redington at ogslp.org (Edington, Rick) Date: Tue, 4 Nov 2008 17:10:40 -0600 Subject: [Lender] ED Releases ECASLA Announcement #34 Message-ID: <297AF473E6053445A2007FAB9E8BCACF80A67B@elgar.lan.ogslp.org> The Department of Education (ED) has released important guidance concerning the Ensuring Continued Access to Student Loans Act (ECASLA) purchase programs. Section 27 of the Master Loan Sale Agreement and Section 37 of the Master Participation Agreement each state that interpretive guidance published by November 1, 2008 is part of the agreement and understanding of the parties. ECASLA Announcement #34 contains 48 Questions and Answers relating to these agreements. This guidance, along with other Questions & Answers already posted on the ECASLA site, represents interpretive guidance and binds ED as any of the provisions of the agreements. Therefore, lenders should review the guidance carefully. OGSLP will continue to keep you updated regarding these important liquidity programs. Rick Rick Edington Director for School/Lender Services, Default Prevention & Outreach Oklahoma Guaranteed Student Loan Program A division of the Oklahoma State Regents for Higher Education P.O. Box 3000 Oklahoma City, OK 73101-3000 405-234-4333 fax: 405-234-4551 This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this message and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you have received this communication in error, please promptly notify the sender and immediately delete the communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20081104/69e04e77/attachment.html From redington at ogslp.org Fri Nov 21 16:09:49 2008 From: redington at ogslp.org (Edington, Rick) Date: Fri, 21 Nov 2008 16:09:49 -0600 Subject: [Lender] ED Announces New Short-Term Purchase Program Message-ID: <297AF473E6053445A2007FAB9E8BCACF80A756@elgar.lan.ogslp.org> New ECASLA short-term purchase program- Secretary Spellings has announced a new short-term purchase program under the Ensuring Continued Access to Student Loans Act (ECASLA). This program will allow for the purchase of Stafford and PLUS loans first disbursed after May 1, 2007 for the 2007-2008 year. A Federal Register notice is expected next week that will include official terms of the program. Below is a link to the announcement: http://www.ed.gov/students/college/aid/ffelp-facts.html OGSLP will keep you informed regarding these important programs. If you have any questions, please contact me at redington at ogslp.org or (405) 234-4333. Rick Rick Edington Director for School/Lender Services, Default Prevention & Outreach Oklahoma Guaranteed Student Loan Program A division of the Oklahoma State Regents for Higher Education P.O. Box 3000 Oklahoma City, OK 73101-3000 405-234-4333 fax: 405-234-4551 This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this message and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you have received this communication in error, please promptly notify the sender and immediately delete the communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20081121/b2c204df/attachment.html