[Lender] Dear Colleague Letter FP-09-03 on the completion of Loan Verification Certificates

[Heid, Mary]

Dear Colleagues,

The U.S. Department of Education (ED) posted Dear Colleague Letter (DCL)
FP-09-03 on the completion of Loan Verification Certificates (LVCs) on
April 3, 2009. This DCL provides updated guidance to FFEL Program loan
holders regarding the completion and return of LVCs in connection with a
borrower's application to consolidate a single FFEL Program
consolidation loan into a new Federal Direct Consolidation loan.

Except in the case of a joint FFEL consolidation loan, a loan holder may
not refuse to complete and return an LVC for a borrower who has applied
to consolidate into the Direct Loan Program based solely on the fact
that the only loan to be consolidated is a single FFEL Program
consolidation loan.

Additional information can be found in the DCL -
http://www.ifap.ed.gov/dpcletters/FP0903.html

If you have questions regarding the DCL, please contact Policy,
Compliance, and Training <mailto:policycompliancetraining at ogslp.org>  or
(405) 234-4432.

Best Regards,
Mary Heid
Director for Policy, Compliance, & Training
Oklahoma Guaranteed Student Loan Program
(405) 234-4489 phone
(405) 234-4582 fax
TTY 1-800-522-8506



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