[Lender] ED Releases Master Participation and Loan Sales Agreements

[Edington, Rick]

ED has released copies of the Master Participation Agreement and the
Master Loan Sales Agreement that must be executed by a lender/holder who
wishes to participate in one or both of the Loan Purchase Programs.
These documents are available via ED's Ensuring Continued Access to
Student Loans Act (ECASLA) Website
<http://federalstudentaid.ed.gov/ffelp/library/masterloanpurchaseagreeme
nts.pdf> .   

Additional Notes:

*	Revised Notice of Intent - A revised Notice of Intent to
Participate has also been posted (Exhibit F- page 111).  ED will
continue to accept the prior version and institutions that have already
filed the prior notice do not need to re-submit.  

*	Notice of Intent Filing Deadline extended- ED has extended the
deadline to file notices of intent to participate to 7/31/08 for those
lenders wishing to preserve the right to "put" loans originated on or
after 5/1/08.  Notices filed after 7/31/08 will result in preserving the
right to only "put" loans made on or after the date ED receives the
Notice of Intent from the lender. 

*	Document submission- Additional information, including
submission directions is expected to be shared "soon".

If your organization anticipates needing to use either the "put" or both
the "put" and the "participating interest" option, or anticipates the
possibility of selling loans to an organization that may need to "put"
the loans, it is critical to file this notice in a timely manner.
Notices of Intent do NOT obligate the lender to participate; they only
serve to endow the lender with the future right to participate in the
option(s).  OGSLP will continue to keep you updated regarding
information about these important programs. 

Rick


Rick Edington
Director for School/Lender Services, Default Prevention & Outreach
Oklahoma Guaranteed Student Loan Program
A division of the Oklahoma State Regents for Higher Education
P.O. Box 3000
Oklahoma City, OK  73101-3000
405-234-4333  fax: 405-234-4551

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