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<p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";
color:#1F497D'>John Jefferson, President of AASFAA (Arkansas), sent this out
this morning. Since none of us believe in reinventing the wheel, and who
has time anyway, I obtained his permission to forward this to our
organization as well. Timing is crucial, so please communicate your
concerns, if you agree. nm<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";
color:#1F497D'><o:p> </o:p></span></p>
<p><span lang=EN style='font-family:"Garamond","serif"'>Dear <span
style='color:#1F497D'>O</span>ASFAA Colleagues, <o:p></o:p></span></p>
<p><span lang=EN style='font-family:"Garamond","serif"'>As you know on
September 18th the House passed the Student Aid and Responsibility Act of 2009
(H.R. 3221) and the Health, Education and Labor Committee (HELP) is beginning
the process to mark up their bill in the Senate. Now would be the time to act
if you feel strongly about the provisions in H.R. 3221. Two of the major
changes within H.R. 3221 center on the delivery of federal student loans to our
students. First, of course, is the elimination of the FFELP programs and the
migration of the federal loans program to the Direct Loan Program. The second
major change is the elimination of the current Perkins loan program as we know
it and the introduction of a new loan type, the Federal Direct Perkins Loan,
under the existing Direct Loan program. <o:p></o:p></span></p>
<p><span lang=EN style='font-family:"Garamond","serif"'>Right now under the
House bill the effective date for these two significant changes is July 1,
2010. The highest concern is the lack of lead time needed by over 4500
institutions nationwide to convert to the Direct Loan Program. </span><span
style='font-family:"Garamond","serif"'>The Student Loan Community Proposal (<a
href="http://www.studentloanfacts.org/">www.studentloanfacts.org</a> ) endorses
all of the core principles of the Administration's reform effort while
maintaining choice, competition and superior service for students, without
requiring the transition of systems. This proposal was submitted to
Congress and scored by the Congressional Budget Office (CBO).<strong><span
style='font-family:"Garamond","serif"'> </span></strong><strong><span
style='font-family:"Garamond","serif";font-weight:normal'>The CBO concluded
that mandatory savings of $87 billion can be achieved by either<i> </i>the community
proposal or H.R. 3221, the Student Aid and Fiscal Responsibility Act of
2009. </span></strong></span><strong><span style='font-weight:normal'><o:p></o:p></span></strong></p>
<p><span style='font-family:"Garamond","serif";color:black'>If a July 2010
implementation of elimination of the FFELP Program concerns you, I would urge
you to communicate your concerns to our senators now. </span><span
lang=EN style='font-family:"Garamond","serif"'>If you are so inclined to make
some calls, I am attaching a list of the senators that are members of the HELP
Committee as well.</span><span lang=EN><o:p></o:p></span></p>
<p><span lang=EN style='font-family:"Garamond","serif";color:#1F497D'>The
following link will give you contact information for the Oklahoman’s
representing us in the U.S. Congress. It is suggested that any letters be
faxed to the D.C. office since timing is such a factor.</span><span lang=EN
style='font-family:"Garamond","serif"'><o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><a
href="http://www.odl.state.ok.us/usinfo/congress/index.htm">http://www.odl.state.ok.us/usinfo/congress/index.htm</a>
</span><o:p></o:p></p>
<p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";
color:#1F497D'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";
color:#1F497D'>Nancy Moats, President<o:p></o:p></span></p>
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