[Oasfaa] Loan Limit changes (my whining)

[Weiss, Laura]

Jonna,
 
OGSLP has discussed this issue over the last couple of days to determine
if there were any shortcuts that a school might be able to use that
would reduce the delay in processing without increasing the workload.
Unfortunately (and we will whine along with you), it appears that the
effective date is restrictive to "loans certified on or after 7/1/07".
The only option we could think of besides certifying on or after 7/1/07,
would be to go ahead and certify for the old loan limits prior to that,
then certify a supplemental loan for the difference after 7/1/07.
However, this option does increase your workload by certifying a second
loan.
 
If anyone else has thought of a way to process for the new loan limits
in your office, we would be glad to hear about your alternative method.
As always, our Client Solutions Reps will gather and share any best
practices they are able to pick up while visiting our schools throughout
the state.
 
 
 
________________________________

From: oasfaa-bounces at lists.onenet.net
[mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Jonna L. Raney
Sent: Wednesday, September 06, 2006 11:28 AM
To: oasfaa at onenet.net
Subject: [Oasfaa] Loan Limit changes (my whining)


We are printing some of our 07/08 information and happened to notice
that the new loan limits go into effect for loans "processed or
certified on or after July 1, 2007."  I guess that means that for any
Freshman, Sophomore or Graduate loans, we'll have to hold them until
July 1 before we can originate them.  
 
What a pain!!!   okay, I'm done whining (for now.)  
 
I hope everyone has a good Wednesday.
 
Jonna
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