[Oasfaa] Federal news update from DE Secretary

[DanGHolt at aol.com]

The Secretary of Education announces the annual updates to the tables that
will be used in the statutory  ''Federal Need Analysis Methodology'' to
determine a student's expected family contribution (EFC) for award year
  2002-2003 under Part F of Title IV of the Higher Education Act (HEA) of
1965, as amended (Title IV, HEA Programs).  An EFC is the amount a student
and his or her family may reasonably be expected to contribute toward the
student's  postsecondary educational costs for purposes of determining
financial aid eligibility. The Title IV, HEA Programs
  include the Federal Pell Grant, campus-based (Federal Perkins Loan, Federal
Work-Study, and Federal  Supplemental Educational Opportunity Grant
Programs), Federal Family Education Loan, and William D. Ford
  Federal Direct Loan Programs.



  Federal Register: June 1, 2001   Volume 66, Number 106  Notice

  Page 29785

Comment requested.   The Child Care Provider Loan Forgiveness Application is
used to determine whether borrowers  meet the eligibility requirements for
the Child Care Provider Loan Forgiveness Program. This is a  demonstration
program administered on a first-come, first-serve basis (subject to the
availability of funds). It is  intended to bring more highly trained
individuals into the early child care field for longer periods. Under the
  program, individuals who work full-time in certain child care facilities
that serve low-income families and meet  other qualifications may be eligible
to have up to 100% of their Direct Loan and/or Federal Family Education
  Loan (FFEL) program loan forgiven. The Child Care Provider Loan Forgiveness
Forbearance Form is  required to comply with program guidance that provides
forbearance for child care providers and to determine
  the child care providers eligibility for forbearance.

  Additional Information: Appropriations were only funded this January for
these benefits which are meant to  enhance the child care field. Funds must
be obligated by the end of September, hence the need for this
  emergency clearance time schedule.