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<p><font size=3 face=Arial><span style='font-size:12.0pt;font-family:Arial'>The
Department of Education (ED) has released the special allowance rates for the
quarter ending June 30, 2010. <o:p></o:p></span></font></p>
<p><font size=3 face=Arial><span style='font-size:12.0pt;font-family:Arial'>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. </span></font><o:p></o:p></p>
<p><font size=3 face=Arial><span style='font-size:12.0pt;font-family:Arial'>Therefore,
for the quarter ending<b><span style='font-weight:bold'> June 30, 2010</span></b>,
the average rate used to compute special allowance will be<b><span
style='font-weight:bold'> <font color=black><span style='color:black'>0.41</span></font></span></b></span></font>
<font face=Arial><span style='font-family:Arial'>percent. </span></font><o:p></o:p></p>
<p><font size=3 face=Arial><span style='font-size:12.0pt;font-family:Arial'>Pursuant
to the Master Participation Agreement(s) under ED's loan participation purchase
program, the</span></font><b><span style='font-weight:bold'> </span></b><b><font
color=black face=Arial><span style='font-family:Arial;color:black;font-weight:
bold'>0.41</span></font></b> <font face=Arial><span style='font-family:Arial'>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) </span></font><a
href="http://federalstudentaid.ed.gov/ffelp/library/EA89.doc"
title="blocked::http://federalstudentaid.ed.gov/ffelp/library/EA83.doc blocked::http://www.federalstudentaid.ed.gov/ffelp/library/EA57.doc"><font
face=Arial
title="blocked::http://federalstudentaid.ed.gov/ffelp/library/EA83.doc"><span
title="blocked::http://federalstudentaid.ed.gov/ffelp/library/EA83.doc"><span
style='font-family:Arial'>announcement</span></span></font></a><font
face=Arial><span style='font-family:Arial'>.</span></font><o:p></o:p></p>
<p><font size=3 face=Arial><span style='font-size:12.0pt;font-family:Arial'>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</span></font><b><span
style='font-weight:bold'> </span></b><b><font face=Arial><span
style='font-family:Arial;font-weight:bold'>June 30, 2010</span></font></b><font
face=Arial><span style='font-family:Arial'>, the average of the rates is<b><span
style='font-weight:bold'> <font color=black><span style='color:black'>0.15</span></font></span></b></span></font>
<font face=Arial><span style='font-family:Arial'>percent. </span></font><o:p></o:p></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><a href="http://ifap.ed.gov/ffelspecrates/SAPmemo070710.html"
title="blocked::http://ifap.ed.gov/ffelspecrates/SAPmemo040810.html blocked::http://www.ifap.ed.gov/ffelspecrates/071609SAPMemo.html"><b><font
face=Arial title="blocked::http://ifap.ed.gov/ffelspecrates/SAPmemo040810.html"><span
title="blocked::http://ifap.ed.gov/ffelspecrates/SAPmemo040810.html"><span
style='font-family:Arial;font-weight:bold'>Click here</span></span></font></b></a>
</span></font><font face=Arial><span style='font-family:Arial'>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 </span></font><a href="mailto:pct@ogslp.org"
title="blocked::mailto:pct@ogslp.org"><font face=Arial
title="blocked::mailto:pct@ogslp.org"><span
title="blocked::mailto:pct@ogslp.org"><span style='font-family:Arial'>pct@ogslp.org</span></span></font></a><font
face=Arial><span style='font-family:Arial'>. We're here to help!</span></font><font
color=navy face=Sylfaen><span style='font-family:Sylfaen;color:navy'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p><font size=3 color=navy face="Eras Demi ITC"><span style='font-size:12.0pt;
font-family:"Eras Demi ITC";color:navy'>Matt McCreary</span></font> <br>
<font color=navy face="Eras Demi ITC"><span style='font-family:"Eras Demi ITC";
color:navy'>Policy Analyst</span></font> <o:p></o:p></p>
<p><st1:State w:st="on"><font size=3 color=teal face="Eras Bold ITC"><span
style='font-size:12.0pt;font-family:"Eras Bold ITC";color:teal'>Oklahoma</span></font></st1:State><font
color=teal face="Eras Bold ITC"><span style='font-family:"Eras Bold ITC";
color:teal'> Guaranteed Student Loan Program</span></font> <br>
<font size=2 color=teal face="Eras Bold ITC"><span style='font-size:10.0pt;
font-family:"Eras Bold ITC";color:teal'>A Division of the <st1:place w:st="on"><st1:PlaceName
w:st="on">Oklahoma</st1:PlaceName> <st1:PlaceType w:st="on">State</st1:PlaceType></st1:place>
Regents for Higher Education</span></font> <o:p></o:p></p>
<p><font size=3 color=green face="Eras Bold ITC"><span style='font-size:12.0pt;
font-family:"Eras Bold ITC";color:green'>405-234-4296 - phone</span></font> <br>
<font color=green face="Eras Bold ITC"><span style='font-family:"Eras Bold ITC";
color:green'>405-234-4549 - fax</span></font> <o:p></o:p></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
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