[Oasfaa] 150 Loans

[Laura Coponiti]

Hello All,

 

Our loan person came to me with a question and I am not sure that I know the
correct answer so your help is appreciated.

 

We have some students that are starting for the first time this spring (did
not attend anywhere in fall) who are taking out loans.  What would you list
as their academic year is 09/03/2013 - 04/25/2013 and their loan period is
01/10/2014 - 04/15/2014 even if they did not attend in fall or would you
give them a spring/summer academic year?  And if you give them a
spring/summer academic year if they end up not attending in the summer them
do you go back and change the academic year to 01/10/2014 to 04/15/2014?
Our school does both AY and BBAY loans.

 

I thought I had this figured out but now that she is asking me and
questioning it I am not sure anymore.  All I can remember for sure is that
the guy at FSA said the academic year can never start out as just one term.

 

Thanks for your help in advance!!

 

Laura Coponiti

USAO

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