[Oasfaa] lender question

[Jonna Raney]

I'd like to know what schools are going to do about current students who have a loan with a lender (i.e. SLXpress or others) who is opting out of the FFEL program when it comes time to certify their loan for 0809.  My guess is that we will have to inform the student that their lender is not participating any longer and have them choose another lender and complete another mpn.  Is that correct?   If so, are you going to try to include that info on the award letter or wait until they accept the loan and then notify them?

Then that leads to a the question about consolidation for these students because they have now been forced into a multiple lender situation, but their choices for consolidation are dwindling daily as well.  What, if anything are you going to tell them about the predicament that their helpful law makers has created for them?

I'm so glad the legislators in Washington helped the students!  It seems to be that the students are only getting hurt with all the changes.... I know I'm preaching to the choir, but I needed to vent a little.  :-)  

Thanks in advance for any feedback,
Jonna