[Oasfaa] FW: <<EXTERNAL E-MAIL>> Loan Deferments

[Laura Coponiti]

Thank you to those who have respond.  The below response was just sent to me so I thought I would share incase it helps someone else.

It appears my student had a Non-defaulted FFEL loan not held by ED so it was ineligible for the deferment.  So now it has to be assigned to ED in order to reverse the default and put the loans back in good standing.

Laura Coponiti
Financial Aid Officer
lcoponiti at cvtech.edu<mailto:lcoponiti at cvtech.edu>

[cid:image001.png at 01D078EB.A50C5180]
1401 Michigan Ave
Chickasha, OK 73018
405.222.7575

From: Shelton, Jaime <jshelton at ocap.org> On Behalf Of Policy Compliance Training
Sent: Friday, April 29, 2022 10:52 AM
To: Laura Coponiti <lcoponiti at cvtech.edu>
Subject: RE: <<EXTERNAL E-MAIL>> [Oasfaa] Loan Deferments

Hi Laura,

The COVID-19 moratorium automatically puts Direct Loans in a mandatory forbearance and 0% interest . FFEL loans were not initially included but were added later, so any student loan that defaulted after March 20, 2020 is set to be assigned to the U.S. Department of Education in order to reverse the default and put the loans back in a good standing. If the borrower's loan default prior to that date, then all collection efforts have been placed on pause and the borrower can consolidate to get the loan out of default. Please let me know if you have any further questions.

Jaime Shelton
Senior Regulatory Compliance Specialist and System Services Coordinator/Ombudsman
Oklahoma College Assistance Program
A division of the Oklahoma State Regents for Higher Education
Phone: 405.234.4281



From: OASFAA <oasfaa-bounces at lists.onenet.net<mailto:oasfaa-bounces at lists.onenet.net>> On Behalf Of Laura Coponiti
Sent: Friday, April 29, 2022 8:45 AM
To: oasfaa at lists.onenet.net<mailto:oasfaa at lists.onenet.net>
Subject: <<EXTERNAL E-MAIL>> [Oasfaa] Loan Deferments

-- THIS E-MAIL WAS RECEIVED FROM AN EXTERNAL SOURCE--
Happy Friday Everyone,

I have a quick question for you all today.  Is the COVID loan deferments just for direct loans?  I have a student that was just put in default status, I looked on NSLDS her direct loans are deferred but her FFEL loans are not.  If this is the case I could see where this could be very confusing for the student.

Laura Coponiti
Financial Aid Officer
lcoponiti at cvtech.edu<mailto:lcoponiti at cvtech.edu>

[cid:image001.png at 01D078EB.A50C5180]
1401 Michigan Ave
Chickasha, OK 73018
405.222.7575

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