[Lender] ECASLA Announcement #66 - Document Submission Process for the 2009-2010 Loan Purchase Programs

[Edington, Rick]

		ED has announced that the 2009-2010 Loan Purchase
Programs are considered new programs and not extensions of earlier
programs. Thus, each FFEL Program lender/holder that wishes to
participate in the 2009-2010 programs must execute the relevant Adoption
Agreement (and other required documentation) regardless of any earlier
participation in the ECASLA Loan Purchase Programs. 

		ED has made several changes to the text of the 2009-2010
MPA and MLSA as originally posted in January 2009. The changes
incorporate into the Agreements themselves interpretations of the
Agreements, such as those explicitly adopted in Electronic Announcement
#34, October 31, 2008 [Questions & Answers 36 - 39] and made publicly
available to rating agencies evaluating lenders' financial transactions;
or in other guidance from the Department. The changes are intended to
clarify the rights and obligations of the parties under the agreements. 

		To assist parties in reviewing those changes, ED is
providing, as attachments to this announcement, copies of both the
revised 2009-2010 Agreements (dated June 15, 2009) and redlined versions
of those Agreements that show the changes made to the January 1, 2009
versions posted on January 16, 2009.  Instructions are provided on the
execution and submission of required 2009-2010 MPA and MLSA documents. 


		The link to Electronic Announcement #66 is -
http://federalstudentaid.ed.gov/ffelp/library/EA66.pdf


Let me know if you have any questions.

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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