[Oasfaa] Industry Seeks Extension of Current PLUS Application

[Client Relations]

	As reported by OGSLP, the current PLUS application has an Office of
Management and Budget (OMB) expiration date of 10/20/01.  As a result of
this expiration date, the Department of Education (DE) has been working on a
revised PLUS application for use until issues surrounding the proposed PLUS
Master Promissory Note (MPN) can be resolved.  However, OGSLP has been
notified that both NCHELP and DE are requesting OMB to extend the expiration
date of the current PLUS application until a final implementation strategy
for PLUS MPN can be determined. 

	Specific PLUS MPN issues being discussed include the Department's
rejection of the multiple  dependent, single note concept and final
agreement on what constitutes adequate time to allow for smooth
implementation in the industry.  

	OGSLP is in close contact with the NCHELP Forms Workgroup and will
keep you updated regarding decisions about final implementation strategies
for PLUS MPN, including any possibility of an interim PLUS application.  If
you have questions, please contact Client Relations at (405) 234-4329 or
(800) 247-0420.