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<p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";
color:#1F497D'>Hallelujah, can I get an AMEN!!!!!<o:p></o:p></span></p>
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color:#1F497D'><o:p> </o:p></span></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Calibri","sans-serif";
color:#1F497D'>Pam McConahay<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Calibri","sans-serif";
color:#1F497D'>Associate Director, University of Oklahoma Financial Aid
Services<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Calibri","sans-serif";
color:#1F497D'>pmcconahay@ou.edu<o:p></o:p></span></p>
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color:#1F497D'><o:p> </o:p></span></p>
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<p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span
style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> Hancock, Ron
[mailto:Ron.Hancock@nelnet.net] <br>
<b>Sent:</b> Thursday, April 09, 2009 5:07 PM<br>
<b>Subject:</b> PLUS AUCTION CANCELLED<br>
<b>Importance:</b> High<o:p></o:p></span></p>
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<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";
color:blue'>FYI....</span><o:p></o:p></p>
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<p class=MsoNormal>April 9, 2009<br>
Author: Daniel T. Madzelan, Delegated the Authority to Perform the Functions
and Duties of the Assistant Secretary for Postsecondary Education<br>
Subject: Cancellation of the Competitive Loan Auction Pilot Program for Parent
PLUS Loans<br>
<br>
U.S. Department of Education<br>
ANNOUNCEMENTTHE COMPETITIVE LOAN AUCTION PILOT PROGRAM FOR PARENT PLUS LOANS<br>
Through a notice in the Federal Register of March 3, 2009, the Department
established an April 1, 2009 deadline for the submission of pre-qualification
requests under the Competitive Loan Auction Pilot Program for Parent PLUS
Loans, relating to loans to be made for loan periods beginning on or after July
1, 2009 and ending on or before June 30, 2011. In order for the auction
to have been considered successful for any State, at least two lenders must
have submitted pre-qualification requests for that State. However, the
Department failed to receive two requests for pre-qualification for any State,
and for the vast majority of States the Department received no requests at
all. For this reason, the Department considers the purpose of the
Competitive Loan Auction Pilot Program to have been frustrated, and it is
cancelling the auction that was scheduled to occur on April 15, 2009.<br>
During the 2009-10 and 2010-11 award years, Parent PLUS loans under the Federal
Family Education Loan program may be made by any eligible lender to parents of
students attending eligible educational institutions in any State.<br>
In the coming days, the Department will also announce the cancellation of the
auction through a notice in the Federal Register.<span style='font-family:"Arial","sans-serif"'><o:p></o:p></span></p>
<p class=MsoNormal><span style='font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
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