[Oasfaa] 2010 Presidential Budget Blueprint

[Edington, Rick]

You may be aware that the Obama administration released the President's FY 2010 budget proposal today, which includes recommendations related to federal student lending.  It's important to note that typically, the President's proposal is a blueprint that represents a starting point for discussion and consideration.
 

The President’s statement endorsing the movement of all federal student lending toward the direct lending program would significantly change the landscape of the vast majority of student aid at a time when FFELP participants have already begun in-depth discussion and analysis of ways to enhance the program’s long-term viability.  Additionally, the President’s proposal fails to explain how the value-added services provided through the FFELP – services that address critical needs including college access, default prevention and financial literacy - would be made available to students, parents and schools.

 

As a partner in the Oklahoma financial aid community, we'd like to share some other key points with you:

 

 

Ÿ         Despite the President’s budget proposal and the current economic downturn, we see the budgetary review process as a unique opportunity to demonstrate the inherent value of the wide spectrum of support services provided by the FFELP community of lenders, guarantors and schools.

 

Ÿ         We’re confident the federal government will ensure funding will be available for student loans.  Not a single student in the nation has been unable to get a federal student loan due to the credit crisis.

 

Ÿ         Inclusion of student loans in the President’s blueprint will create more opportunities for collaborative discussion and consideration of all aspects of federal student lending.

 

 
OGSLP will continue to keep you informed as discussions continue.  If you have questions in the interim, feel free to contact me at 405.234.4333 or redington at ogslp.org <mailto:redington at ogslp.org> . 
 
Rick 
 
 
Rick Edington 
Director for School/Lender Services, Default Prevention and 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 (direct)
800-522-8506 (TDD/TRS) 
405-234-4551 (fax) 
redington <mailto:redington at ogslp.org> @ogslp.org   
 
 
Note: This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this information and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you have received this message in error, please promptly notify the sender and immediately delete this communication from your system. 
 
 
 

 

 

 

 
 
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://lists.onenet.net/pipermail/oasfaa/attachments/20090226/01124dc9/attachment.html