<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD>
<META http-equiv=Content-Type content="text/html; charset=us-ascii">
<META content="MSHTML 6.00.6000.16414" name=GENERATOR></HEAD>
<BODY>
<DIV><SPAN class=527392420-03052007><FONT face=Arial>I need help
with something bankers should know, so I'm contacting my friendly
neighborhood bankers for info. Yes, my brother, my niece, my other niece
and my sister all work for banks or credit unions, but they're not in the
neighborhood nor are they necessarily friendly at all times.
</FONT></SPAN></DIV>
<DIV><SPAN class=527392420-03052007><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=527392420-03052007><FONT face=Arial>Every year, we have an
issue with parents who get a PLUS credit denial in May when applying for a
summer PLUS loan. If they get denied, we offer the student a
dependent unsub for summer (assuming they haven't gotten all of their dependent
unsub annual limit prior to summer They want us to use that same credit
denial as justification to offer the student a dependent unsub loan for Fall
07-Spring 08, they don't want to apply again for 07-08 and get another credit
hit. Makes sense to me. </FONT></SPAN></DIV>
<DIV><SPAN class=527392420-03052007><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=527392420-03052007><FONT face=Arial>Long ago, we decided that,
because a credit approval is usually good for 90 days, we would consider
the summer PLUS denial as also valid for the upcoming fall/spring if the
credit decision was issued within 90 days of the start date of the fall
semester. </FONT></SPAN></DIV>
<DIV><SPAN class=527392420-03052007><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=527392420-03052007><FONT face=Arial>Now, we're seeing credit
approvals that last up to 120 days. </FONT></SPAN></DIV>
<DIV><SPAN class=527392420-03052007><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=527392420-03052007><FONT face=Arial>What is the industry
standard for being able to approve a new loan without pulling credit
again? </FONT></SPAN></DIV>
<DIV> </DIV>
<DIV align=left><FONT face=Arial size=2>
<P align=left><FONT face=Arial size=2>Pam McConahay</FONT> <BR><FONT face=Arial
size=2>Assoc. Dir., Compliance, Training & Lender Relations</FONT> <BR><FONT
face=Arial size=2>University of Oklahoma Financial Aid Services</FONT> <BR><FONT
face=Arial size=2>1000 Asp Avenue, Room 216 </FONT><FONT face=Arial
size=2>Norman OK 73019-4078</FONT><BR><FONT face=Arial size=2>(405)
325-4617 Fax (405) 325-7608</FONT> <BR><FONT face=Arial
size=2>pmcconahay@ou.edu </FONT></P>
<P><FONT face=Arial size=1>This message, and attachments if any, from the
University of Oklahoma may</FONT> <FONT face=Arial size=1>contain confidential
or privileged information. If you are not the intended</FONT> <FONT
face=Arial size=1>recipient of this information, you are prohibited from
reading, disclosing,</FONT> <FONT face=Arial size=1>reproducing, distributing,
disseminating, or otherwise using this</FONT> <FONT face=Arial
size=1>information. If you received this transmission in error, please
notify the</FONT> <FONT face=Arial size=1>sender and delete this message
immediately. Thank you. </FONT></P></FONT></DIV>
<DIV> </DIV></BODY></HTML>