<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:st1="urn:schemas-microsoft-com:office:smarttags" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv=Content-Type content="text/html; charset=us-ascii">
<meta name=Generator content="Microsoft Word 11 (filtered medium)">
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="State"/>
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="City"/>
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="place"/>
<!--[if !mso]>
<style>
st1\:*{behavior:url(#default#ieooui) }
</style>
<![endif]-->
<style>
<!--
/* Font Definitions */
@font-face
{font-family:Wingdings;
panose-1:5 0 0 0 0 0 0 0 0 0;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:12.0pt;
font-family:"Times New Roman";}
a:link, span.MsoHyperlink
{color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{color:purple;
text-decoration:underline;}
p
{mso-margin-top-alt:auto;
margin-right:0in;
mso-margin-bottom-alt:auto;
margin-left:0in;
font-size:12.0pt;
font-family:"Times New Roman";}
span.EmailStyle17
{mso-style-type:personal-compose;
font-family:Arial;
color:windowtext;}
@page Section1
{size:8.5in 11.0in;
margin:1.0in 1.25in 1.0in 1.25in;}
div.Section1
{page:Section1;}
-->
</style>
</head>
<body lang=EN-US link=blue vlink=purple>
<div class=Section1>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>If anyone responds, I think it would be good to respond to
everyone as it seems like a lot of people are interested. I have removed
names of those who responded directly to me. Of course, we’re all
waiting for Pam’s opinions too! </span></font><font size=2
face=Wingdings><span style='font-size:10.0pt;font-family:Wingdings'>J</span></font><font
size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial'> I
have a call into Bill McFarland and asked him to please address the listserv
and reveal what TG is doing about the 1% fee just for confirmation. Thanks to
everyone who responded and to any future responders.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><u><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Private school responses….<o:p></o:p></span></font></u></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>“</span></font><font size=2 face="Courier New"><span
style='font-size:10.0pt;font-family:"Courier New"'>I am looking at Texas
Guarantee. They are not going to charge the fee in 06-07.”<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face="Courier New"><span style='font-size:10.0pt;
font-family:"Courier New"'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face="Courier New"><span style='font-size:10.0pt;
font-family:"Courier New"'>“</span></font><font face=Arial><span
style='font-family:Arial'>Many lenders are going to be going to 0% origination
fees for the 2006-2007 school year, so this will really offset the 1% guarantor
fee. I believe I talked with one lender who is even going to pay the
guarantor fee for the student - I'm waiting to hear back from the rep to verify
that info. I will probably put the lenders with the lowest fees on my
preferred lender list for the upcoming year and educate students on the difference.</span></font><o:p></o:p></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'> <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'>I think whatever saves the student the most amount of money
is the best way to go, sometimes even $50 will make or break an enrollment,
especially with us private schools. Of course, guaranteeing through a new
agency can be a real headache - it probably depends on which Servicer you use.”<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>“(We)</span></font><font face=Arial><span
style='font-family:Arial'> </span></font><font size=2 color=navy face=Arial><span
style='font-size:10.0pt;font-family:Arial;color:navy'>will continue to use TG.”<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>“Jonna: We are going to do
what is best for the student. If there is an alternative that would have
no fees (guarantor picking up the 1%) then we will try to get that option for
students. We won’t encourage switching lenders, but will be looking
at the guarantor option.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>Like you, I want to be <st1:place w:st="on"><st1:State
w:st="on">Oklahoma</st1:State></st1:place> loyal, but I am loyal to helping my
students first, and doing what benefits them. That is an assignment to me from
my school.”<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><u><font size=2 face="Courier New"><span style='font-size:
10.0pt;font-family:"Courier New"'>State school responses…<o:p></o:p></span></font></u></p>
<p class=MsoNormal><font size=2 face="Courier New"><span style='font-size:10.0pt;
font-family:"Courier New"'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face="Courier New"><span style='font-size:10.0pt;
font-family:"Courier New"'>“</span></font><font size=2 color=navy
face=Arial><span style='font-size:10.0pt;font-family:Arial;color:navy'>To add
to both of your comments, has anyone seen anything in writing from a guarantor
who is willing to subsidize the 1% fee, and if so, is there any commitment to
subsidize it beyond this first year?</span></font><o:p></o:p></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'> <st1:City w:st="on"><st1:place
w:st="on">Nancy</st1:place></st1:City> Moats” USAO<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>“</span></font><font size=2
color=blue face=Arial><span style='font-size:10.0pt;font-family:Arial;
color:blue'>Great question Jonna. I'll be the first to jump in. Hopefully,
others will join us. You're not alone struggling with this delimma. Many of us
are "in a pickle" on this one though. </span></font><o:p></o:p></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'> <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=blue face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:blue'>Who among our students, if given the
opportunity to pay zero fees or pay a 1% fee would opt for the 1%? Not many I'd
bet. At the same time who among our financial aid offices wants to sit down
with a student/parent and defend processing a loan with 1% fees when it could
have been processed with no fees? I don't look forward to that type of a
conversation. Therefore, I'm trying to figure our a simple way of
communicating the choices to our students and let them make the decision for
themselves.</span></font><o:p></o:p></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'> <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=blue face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:blue'>When lenders are biting the bullet and
waiving fees in order to be competitive, I'd like to see OGSLP do the same
thing. Unfortunately, I don't believe state schools have to same flexibility
that privates do in pursuing a better alternative for their students. Let's
face it, polictics are part of the environment in which we live. So
if anyone has any creative solutions in mind, please share them with the rest
of us. </span></font><o:p></o:p></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'> <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=blue face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:blue'>These observations are not intended
to represent anyone but me. </span></font><o:p></o:p></p>
<p class=MsoNormal><font size=2 color=blue face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:blue'>Larry” SWOSU<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=blue face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:blue'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=blue face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:blue'>“</span></font><font size=2
color=navy face=Arial><span style='font-size:10.0pt;font-family:Arial;
color:navy'>I just visited with Kimberly today from BOK and she says that they
are picking up the Guarantee fee. She just smiled when I mentioned future
years. I don’t think anyone knows for sure.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>Sherry Foster” SOSU<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=blue face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:blue'><o:p> </o:p></span></font></p>
<p class=MsoNormal><u><font size=3 color=blue face="Times New Roman"><span
style='font-size:12.0pt;color:blue'>OGSLP Clarification<o:p></o:p></span></font></u></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>“OGSLP is pleased to see that discussion is taking place within
the financial aid community about the new Default Fee. </span></font><font
size=2 color=blue face=Arial><span style='font-size:10.0pt;font-family:Arial;
color:blue'><o:p></o:p></span></font></p>
<p><font size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial'>The
Deficit Reduction Act, signed into law one month ago, mandates that for loans
guaranteed on or after July 1, a Default Fee must be collected and deposited
into the guarantor's Federal fund. This means that when the new law takes full
effect this year, no guarantor may waive the collection of the fee.
Further, the fee is required to be collected from a non-federal source. </span></font><o:p></o:p></p>
<p><font size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial'>We
are among a very small group of guarantors who have announced to their
constituents the implementation of the new fee. While we expect that most
guarantors will soon be making similar announcements, we thought our community
would appreciate an earlier notice for planning purposes. You may or may
not be aware that both NELA and USA Funds have made announcements similar to
ours. </span></font><o:p></o:p></p>
<p><font size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial'>I
hope this has provided some clarification to the new Federal mandate. </span></font><o:p></o:p></p>
<p><font size=2 face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma'>Mary
Mowdy, Executive Director</span></font> <br>
<font size=2 face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma'>Oklahoma
Guaranteed Student Loan Program”<o:p></o:p></span></font></p>
<p><font size=2 face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma'><o:p> </o:p></span></font></p>
<p><font size=2 face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma'><o:p> </o:p></span></font></p>
<p><font size=2 face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma'><o:p> </o:p></span></font></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=blue face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:blue'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=blue face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:blue'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
</div>
</body>
</html>