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<DIV><SPAN class=310361918-04062007><SPAN class=606311120-09062007><FONT
face=Arial>If you attended the OGSLP conference on Thursday (VERY VERY WELL
DONE!) , you heard Brett Lief talk about the new NPRM (Notice of
Proposed Rulemaking) and refer to the kind of people who read the preambles to
NPRMs as 'nerds". Hi, I'm Nerd. Nice to meet you.
</FONT></SPAN></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><SPAN class=606311120-09062007><FONT
face=Arial></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=310361918-04062007><SPAN class=606311120-09062007><FONT
face=Arial>Notices of Proposed Rulemaking are an important part of the
government regulatory process. This is our opportunity to say "hey, wait a
minute, I don't like that" or "If you really want to achieve your objective, I
think it should be done THIS way" before regulation gets set in stone.
</FONT></SPAN></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><SPAN class=606311120-09062007><FONT
face=Arial></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=310361918-04062007><SPAN class=606311120-09062007><FONT
face=Arial>When I was young in financial aid, back in the last millennia, I was
bored silly by federal updates and people who talked about proposed
regulations. My attitude was "don't bother me until it actually goes into
effect, not that I'll be all that interested even then". Then,
I aged...and I learned that comments made in response to NPRMs really
CAN affect the eventual final regulations. Even if the proposed
regulations don't change when they become final regulations, the comment period
gives you some valuable preparation time depending on how soon
these reg changes will take
effect. </FONT></SPAN></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><SPAN class=606311120-09062007><SPAN
class=310361918-04062007><SPAN class=606311120-09062007><FONT
face=Arial></FONT></SPAN></SPAN> </DIV>
<DIV>
<DIV><SPAN class=310361918-04062007><SPAN class=606311120-09062007><FONT
face=Arial>What Brett didn't tell you is that all the juicy stuff about
arguments between ED and the negotiated rulemaking participants are talked about
in the preamble. Preambles are like the People Magazine of NPRMs.
You can get a pretty good idea of what arguments or suggestions ED has already
refused to budge on by reading the preamble.....and what they might still be
willing to look at during the comment
period. </FONT></SPAN></SPAN></DIV></SPAN></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>I read through the
"invitation to comment" section of the NPRM, that's where ED discusses all
of the suggestions made by the negotiated rulemaking group and why ED did or did
not take their suggestions. Although the NPRM is 225 pages long, the
'invitation to comment' is only about 100 pages (the first 100
pages). <SPAN class=606311120-09062007>Light reading,
huh? I've listed below the areas that I pointed out to our
administrative colleagues here at OU. You might consider doing the
same. </SPAN></FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007></SPAN> </DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial><SPAN
class=606311120-09062007>Bursar, Student Loan Collections if you have a Perkins
Loan Program</SPAN>:</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page 11-17 Simplified
Deferment Processes for FFEL and Perkins</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page 17-19 Death
Certificate Requirement for Discharge FFEL and Perkins</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page 20-28 Total and
Permanent Disability Discharges for FFEL and Perkins</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page 32-38 Electronic
Signatures on MPNs for FFEL and Perkins</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page 38-44 Record
Retention on MPNs for Loans Assigned to ED. </FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page 50-54 Required
Perkins Loan Assignments</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page 54-58 Reasonable
Collection Costs for Perkins</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page 58-60
Child/Family Service Cancellation for Perkins</FONT></SPAN></DIV><SPAN
class=310361918-04062007>
<DIV><FONT face=Arial></FONT><FONT face=Arial></FONT></SPAN><SPAN
class=310361918-04062007></SPAN> </DIV>
<DIV><SPAN class=310361918-04062007><SPAN class=606311120-09062007><FONT
face=Arial>Financial Aid Executive Director, Associate
VP</FONT></SPAN></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page
60 Prohibited
Inducements</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page
67 Support for Financial Literacy
Efforts Allowed</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page
68 Support for Training,
Meetings, Conferences (meals, receptions, etc.)</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page
68 Prohibitions for
Guarantors</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page
73 Affiliated Groups (<SPAN
class=606311120-09062007>Recruiters? </SPAN> Alumni
Association?)</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page
79 Philanthropic Giving (Might
affect Development?)</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page
87 Prohibitions on School Affliated
and Social Groups---might this include <SPAN
class=606311120-09062007>f</SPAN><SPAN class=606311120-09062007>raternities
& sororities</SPAN>?</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page
92 Requirements for Preferred Lender
lists</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Page 100-102 Minimum
number on the list, model format for benefits comparison being developed by
ED.</FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=310361918-04062007><FONT face=Arial>Remember, these are just
proposed regulations, the NPRM won't <SPAN
class=606311120-09062007>officially</SPAN> be open for comment until it gets
posted in the Federal Register<SPAN class=606311120-09062007>.
C</SPAN>omments will be accepted for 60 days after the publication in the
Federal Register. <SPAN class=606311120-09062007>I checked the
Friday, June 8 Federal Register and the NPRM wasn't published yet.
</SPAN><SPAN class=606311120-09062007>The NPRM is available online at <A
href="http://www.ed.gov/policy/highered/reg/hearulemaking/2007/loans.html">http://www.ed.gov/policy/highered/reg/hearulemaking/2007/loans.html</A> </SPAN></FONT></SPAN></DIV>
<DIV><SPAN class=310361918-04062007><SPAN class=606311120-09062007><FONT
face=Arial></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=310361918-04062007><SPAN class=606311120-09062007><FONT
face=Arial>There will be analysis and discussion of this NPRM at the highest
levels....and at the lowest----like you and me. Be a part of the
process. </FONT></SPAN></SPAN></DIV></DIV>
<DIV align=left><FONT face=Arial size=2>
<P align=left><FONT face=Arial size=2>Pam McConahay</FONT> <BR><FONT face=Arial
size=2>Assoc. Dir., Compliance, Training & Lender Relations</FONT> <BR><FONT
face=Arial size=2>University of Oklahoma Financial Aid Services</FONT> <BR><FONT
face=Arial size=2>1000 Asp Avenue, Room 216 </FONT><FONT face=Arial
size=2>Norman OK 73019-4078</FONT><BR><FONT face=Arial size=2>(405)
325-4617 Fax (405) 325-7608</FONT> <BR><FONT face=Arial
size=2>pmcconahay@ou.edu </FONT></P>
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