From pct at ogslp.org Thu Jul 2 08:45:08 2009 From: pct at ogslp.org (Policy Compliance Training) Date: Thu, 2 Jul 2009 08:45:08 -0500 Subject: [Lender] ED Releases Additional Interest Rates Message-ID: OGSLP's May 29, 2009 lender listserv post announced that the Department of Education (ED) released 2009-10 FFELP interest rates for fixed rate loans and variable rate loans disbursed between July 1, 1998 and June 30, 2006. ED has also released interest rate information for a few categories of older PLUS and SLS loans with interest rates based on the one-year constant maturity Treasury yield. Interest rates for these older PLUS and SLS loans, which are effective July 1, 2009 through June 30, 2010, will be: * 3.58 percent for loans first disbursed on or after October 1, 1992, but before July 1, 1994. * 3.28 percent for loans first disbursed on or after July 1, 1998, but before July 1, 2006 (PLUS only). * 3.58 percent for loans first disbursed on or after July 1, 1994, but before July 1, 1998 (PLUS only). Additionally, the 91-day T-bills auctioned for the quarter ending June 30, 2009 established the HEAL portion of the Federal Consolidation loan interest rate at 3.18 percent. For more information, refer to ED's June 30, 2009 memo or visit OGSLP's Interest Rate Web page . If you have questions about the new rates, contact our Policy, Compliance, and Training department at 405.234.4432 or pct at ogslp.org . We're here to help! ________________________________________________________________________ _________________ OGSLP Policy, Compliance, and Training 405.234.4432 800.522.8506 (TDD/TRS) 800.247.0420 (toll-free) pct at ogslp.org www.ogslp.org Note: This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this information and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law including, but not limited to, the Privacy Act of 1974. 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 message in error, please promptly notify the sender and immediately delete this communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20090702/7f0f8848/attachment.html From gslcommunications at ogslp.org Thu Jul 2 09:57:26 2009 From: gslcommunications at ogslp.org (GSL Communications) Date: Thu, 2 Jul 2009 09:57:26 -0500 Subject: [Lender] OGSLP Offices Closed 7-03-09 Message-ID: <297AF473E6053445A2007FAB9E8BCACFA4DE86@elgar.lan.ogslp.org> The Oklahoma Guaranteed Student Loan Program (OGSLP) will be closed tomorrow in observance of Independence Day. Normal operating hours will resume Monday, July 6. Have a safe and happy 4th! ________________________________ Angela O. Caddell Director for Communications, Financial Education, and Outreach OGSLP Communications 405.234.4452 800.522.8506 (TDD/TRS) 800.247.0420 (toll-free) gslcommunications at ogslp.org www.ogslp.org Note: This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this information 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 message in error, please promptly notify the sender and immediately delete this communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20090702/fd988f73/attachment.html From pmcconahay at ou.edu Wed Jul 8 17:40:16 2009 From: pmcconahay at ou.edu (Mc Conahay, Pamela K.) Date: Wed, 08 Jul 2009 17:40:16 -0500 Subject: [Lender] OU Begins Sending "Mass Quantities" Today Message-ID: <107E70C9762E1C4FB5DE8DFA19C0282ACB10BA7C87@XMAIL5.sooner.net.ou.edu> Just an alert that OU-Norman 003184-00 will begin sending 2009-2010 App Send loan records in large batches to ELM as of today/tonight. So, eat your Wheaties (or fried chicken ova like Beldar & Primat) and take your vitamins, because the wave is about to hit. Our first batch of 'automated' loans has 296 students in it and they are all freshmen and all Stafford loans (sub & unsub) and all have a Fall 09/Spring 10 loan period. A second batch of sophomore loans may make it out tonight as well. We've been sending 2009-2010 App Send records for Stafford, PLUS, Grad PLUS and Private Loans about 2 weeks but those were all created individually and manually by our loan staff (the amazing quartet of Jehan Parekh, Janet Stevens, Katie Bayliss and Deidra Martin). This batch of 296 freshmen loans are the first ones created by our new Banner system without their review. Another note: we are sending all 2009-2010 loans with the disbursements in "HOLD" status instead of "RELEASE" status so don't be surprised by that. I'll give you a head's up when we begin sending releases to ELM (around 8/1). Our standardized dates are shown below. Pam McConahay Associate Director, University of Oklahoma Financial Aid Services 1000 Asp Ave, Room 216, Norman, OK 73019-4078 (405) 325-4617 Fax (405) 325-3657 pmcconahay at ou.edu Term Loan Beginning Loan Ending Lender Disb Dates 180* Late Disb R2T4 # of Days in Term R2T4 60% Point Withdrawals s on this date or later in the term do not require return of funds. F/Sp 2009-2010 08/24/09 05/14/10 8/11/09 01/6/10 11/10/10 NA NA Fall 2009 08/24/09 12/18/09 8/11/09 6/16/10 112 10/30/09 67.2 days = 60% next business day = 10/30/09 Spring 2010 01/19/10 05/14/10 01/06/10 11/10/10 107 4/02/10 64.2 = 60% Next bus day = 4/02/10 Spring + Summer 01/19/10 08/02/10 01/06/10 05/25/10 01/29/11 N/A N/A Summer10 06/07/10 08/02/10 05/25/10 01/29/11 57 7/12/10 34.2 days = 60% Next bus day = 7/12/10 No Spring/Summer or Summer 10 loans will be done until Spring 2010. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20090708/2ac4e248/attachment-0001.html From mheid at ogslp.org Thu Jul 16 10:16:11 2009 From: mheid at ogslp.org (Heid, Mary) Date: Thu, 16 Jul 2009 10:16:11 -0500 Subject: [Lender] Special allowance rates for the quarter ending June 30, 2009 Message-ID: The Department of Education (ED) has released the special allowance rates for the quarter ending June 30, 2009. Due to changing market conditions, for the period ending June 30, 2009 ED is reverting to the previous method of determining the average of the bond equivalent rates of the quotes of the 3-month commercial paper (financial) rates. For days when a rate is unavailable, ED has used the previous available rate. Therefore, for the quarter ending June 30, 2009, the average rate used to compute special allowance will be 0.41 percent. Pursuant to the Master Participation Agreement(s) under ED's loan participation purchase program for 2008-2009 loans, the 0.41 percent rate is also used to determine the Participant Yield (i.e., yield owed to ED). The calculated Participation Yield rate is available in an Ensuring Continued Access to Student Loans (ECASLA) announcement . For some loans, the special allowance rate is calculated by using the average of the bond equivalent rates of the 91-day Treasury bills as published by the Department of the Treasury. For the quarter ending June 30, 2009, the average of the rates is 0.18 percent. Click here to view ED's announcement regarding the new rates. If you have questions, please contact OGSLP's Policy, Compliance and Training department at 405.234.4432, 800.247.0420 (toll free) or pct at ogslp.org. We're here to help! Mary Heid Director for Policy, Compliance, & Training Oklahoma Guaranteed Student Loan Program A division of the Oklahoma State Regents for Higher Education (405) 234-4489 phone (405) 234-4582 fax TTY 1-800-522-8506 Note: This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this information and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law including, but not limited to, the Privacy Act of 1974. 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 message in error, please promptly notify the sender and immediately delete this communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20090716/a5e8b314/attachment.html From mheid at ogslp.org Mon Jul 20 09:53:42 2009 From: mheid at ogslp.org (Heid, Mary) Date: Mon, 20 Jul 2009 09:53:42 -0500 Subject: [Lender] NSLDS Data Integrity Alert Message-ID: Dear Colleagues; Attached please find a Data Integrity Alert notice from NSLDS regarding Date Entered Repayment instructions. ED has requested that we share this reminder with lenders and servicers. If you have any questions, please contact Leca VanBuren at (405) 234-4347, or e-mail lvanburen at ogslp.org. Best Regards, Mary Heid Director for Policy, Compliance, & Training Oklahoma Guaranteed Student Loan Program A division of the Oklahoma State Regents for Higher Education (405) 234-4489 phone (405) 234-4582 fax TTY 1-800-522-8506 Note: This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this information and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law including, but not limited to, the Privacy Act of 1974. 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 message in error, please promptly notify the sender and immediately delete this communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... 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