From mheid at ocap.org Mon Apr 16 15:01:37 2012 From: mheid at ocap.org (Heid, Mary) Date: Mon, 16 Apr 2012 15:01:37 -0500 Subject: [Lender] Income Documentation for the IBR Plan Message-ID: <73D6D6DED9E2F4489357A32E6DCD9E21400351@elgar.lan.ogslp.org> On April 13, 2012 the United States Department of Education issued an electronic announcement explaining increased flexibility to lenders and servicers on the standards for accepting documentation of borrowers' income for IBR purposes. The announcement modifies previous guidance by allowing a lender or servicer to accept an unsigned copy of the borrower's tax return, unless the lender or servicer questions the validity of the return submitted by the borrower. You may read the entire announcement here . Mary Heid Director for Policy, Compliance, and Training Oklahoma College Assistance Program (OCAP) a division of the Oklahoma State Regents for Higher Education formerly known as the Oklahoma Guaranteed Student Loan Program 405.234.4489 (office direct) 800-522-8506 (TDD/TRS) 405.234.4582 (fax) www.ocap.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: From mmccreary at ocap.org Wed Apr 18 14:49:57 2012 From: mmccreary at ocap.org (McCreary, Matt) Date: Wed, 18 Apr 2012 14:49:57 -0500 Subject: [Lender] Special Allowance Rates for the Quarter Ending March 31, 2012 Message-ID: <73D6D6DED9E2F4489357A32E6DCD9E212CE39D@elgar.lan.ogslp.org> The Department of Education (ED) has released the special allowance rates for the quarter ending March 31, 2012. In calculating quarterly Special Allowance rates, ED is required to determine ?the average of the bond equivalent rates of the quotes of the 3-month commercial paper (financial) rates in effect for each of the days in such quarter as reported by the Federal Reserve in Publication H-15 (or its successor) for such 3-month period.? For days when a rate is unavailable, ED has used the previous available rate. Therefore, for the quarter ending March 31, 2012, the average rate used to compute special allowance will be 0.24 percent. 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 March 31, 2012, the average of the rates is 0.07 percent. Click here to view ED?s announcement regarding the new rates. If you have questions, please contact OCAP?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! Matt McCreary Policy Analyst Oklahoma College Assistance Program (OCAP) formerly known as Oklahoma Guaranteed Student Loan Program a division of the Oklahoma State Regents for Higher Education 405-234-4296 - phone 405-234-4549 - fax 800-522-8506 (TDD/TRS) 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: