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<TITLE>Disaster Guidance (Southern California Wildfires)</TITLE>
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<P><FONT SIZE=2 FACE="Arial">To assist customers who may have borrowers affected by the southern California wildfires, we're providing the following disaster guidance previously issued by the Department of Education. We're also including a direct link to information about impacted California counties on FEMA's Web site. If you have questions, contact OGSLP's Policy, Compliance, and Training department at 405.234.4432 or </FONT><A HREF="mailto:pct@ogslp.org"><U><FONT COLOR="#0000FF" SIZE=2 FACE="Arial">pct@ogslp.org</FONT></U></A><FONT SIZE=2 FACE="Arial"> for assistance.</FONT></P>
<P><B><FONT SIZE=2 FACE="Arial">Department of Education Guidance - Dear Colleague Letter GEN-04-04</FONT></B><FONT SIZE=2 FACE="Arial"> This letter was issued in an effort to ensure that affected individuals, as well as institutions, lenders, and guaranty agencies, have the means to act quickly whenever a disaster is declared by the President. Even though this letter was issued in 2004, it is still in effect. Provisions in GEN-04-04 include: </FONT></P>
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<LI><U><FONT SIZE=2 FACE="Arial">Administrative Forbearance</FONT></U><FONT SIZE=2 FACE="Arial"> - The loan holder may grant an administrative forbearance for up to three months and must document the reasons why the forbearance was granted, but does not need to obtain supporting documentation or a signed written agreement from the borrower. </FONT></LI>
<LI><U><FONT SIZE=2 FACE="Arial">Converting the Borrower to Repayment</FONT></U><FONT SIZE=2 FACE="Arial"> - The period of borrowers’ nonattendance due to the disaster should not initiate or affect their grace period. Borrowers who are in an “in-school” status or an “in-school deferment” status, but have their attendance interrupted due to a disaster, are to remain in that same status until they withdraw or re-enroll in the next regular enrollment period, whichever is earlier.</FONT></LI>
<LI><U><FONT SIZE=2 FACE="Arial">Disbursement of Loan Proceeds</FONT></U><FONT SIZE=2 FACE="Arial"> - If the lender has been notified that the school has delayed opening for a scheduled term or has ceased operations for an undetermined period of time, the lender is authorized not to disburse loan funds to schools in the affected areas. The lender should wait to receive revised disbursement schedules from the affected schools.</FONT></LI>
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<P><B><FONT SIZE=2 FACE="Arial">Federal Emergency Management Agency’s (FEMA) Web Site - California Wildfires</FONT></B><BR>
<FONT SIZE=2 FACE="Arial">A major disaster declaration for California was granted Wednesday, Oct. 24, 2007 for seven affected California counties (Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara and Ventura). For more information, </FONT><A HREF="http://www.fema.gov/news/event.fema?id=9029"><U><FONT COLOR="#0000FF" SIZE=2 FACE="Arial">click here</FONT></U></A><FONT SIZE=2 FACE="Arial">.</FONT> </P>
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<P><B><FONT SIZE=2 FACE="Arial">Communications</FONT></B><BR>
<B></B><B></B><B><FONT SIZE=2 FACE="Arial">OGSLP</FONT></B><BR>
<B></B><B></B><B><FONT SIZE=2 FACE="Arial">405.234.4440 or 800.247.0420</FONT></B><BR>
<B></B><B></B><B><FONT SIZE=2 FACE="Arial">gslcommunications@ogslp.org<BR>
</FONT></B><A HREF="file://www.ogslp.org"><B></B><B><U><FONT COLOR="#0000FF" SIZE=2 FACE="Arial">www.ogslp.org</FONT></U></B><B></B></A><B></B>
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<P><FONT SIZE=2 FACE="Arial">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.</FONT></P>
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