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<div class=Section1>
<p class=MsoNormal><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'>With the upcoming deadline of July 1, 2010 for FFELP loans,
here is some information that is important to note.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'><o:p> </o:p></span></font></p>
<ul style='margin-top:0in' type=disc>
<li class=MsoNormal style='color:black;mso-list:l0 level1 lfo1'><font size=3
color=black face=Arial><span style='font-size:12.0pt;font-family:Arial'>Live
Internet Webinar on What’s New for Direct Loans</span></font> <font
face=Arial><span style='font-family:Arial'><o:p></o:p></span></font></li>
<li class=MsoNormal style='color:black;mso-list:l0 level1 lfo1'><font size=3
color=black face=Arial><span style='font-size:12.0pt;font-family:Arial'>Reallocation
and Cancellation Information</span></font> <font face=Arial><span
style='font-family:Arial'><o:p></o:p></span></font></li>
</ul>
<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=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'>*****************************************************************************************************************************************<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=4 color=black face=Arial><span style='font-size:
14.0pt;font-family:Arial;color:black'>Live Internet Webinar on What’s New
for Direct Loans<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'>Two additional webinar’s conducted
by Federal Student Aid staff that focuses on recent enhancements to the Direct
Loan Program will be held on May 25, 2010 at 10:00 a.m. (CST) and June 22, 2010
at 10:00 a.m. (CST). There are still spaces available for the June 9,
2010 at 1:00 p.m. (CST) webinar as well. Advanced registration is
required and will be available on a first-come, first-served basis.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'>To register for the May 25<sup>th</sup>
-10:00 a.m. session, <a
href="https://event.on24.com/eventRegistration/EventLobbyServlet?target=registration.jsp&eventid=213107&sessionid=1&key=E7ACA24688765B2E783DFA3DA1054391&sourcepage=register"
title="https://event.on24.com/eventRegistration/EventLobbyServlet?target=registration.jsp&eventid=213107&sessionid=1&key=E7ACA24688765B2E783DFA3DA1054391&sourcepage=register">click
this link</a><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'>To register for the June 9<sup>th</sup> -
1:00 p.m. session, <a
href="https://event.on24.com/eventRegistration/EventLobbyServlet?target=registration.jsp&eventid=208698&sessionid=1&key=7BC29E80017B55D45A51D45684BCC94C&sourcepage=register"
title="https://event.on24.com/eventRegistration/EventLobbyServlet?target=registration.jsp&eventid=208698&sessionid=1&key=7BC29E80017B55D45A51D45684BCC94C&sourcepage=register">click
this link</a><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'>To register for the June 22<sup>nd </sup>-
10:00 a.m. session, <a
href="https://event.on24.com/eventRegistration/EventLobbyServlet?target=registration.jsp&eventid=213111&sessionid=1&key=430C1FD61BA45948887B27A19DFBA9E0&sourcepage=register"
title="https://event.on24.com/eventRegistration/EventLobbyServlet?target=registration.jsp&eventid=213111&sessionid=1&key=430C1FD61BA45948887B27A19DFBA9E0&sourcepage=register">click
this link</a><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'>*************************************************************************************************************************************<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=4 face=Arial><span style='font-size:14.0pt;
font-family:Arial'>Reallocation and Cancel Information on the July 1, 2010 cut
off for FFELP loans<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><b><u><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-weight:bold'>Reallocation<o:p></o:p></span></font></u></b></p>
<p class=MsoNormal><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'>A reallocation between a subsidized and unsubsidized loan
can occur on a FFELP loan on or after July 1, 2010, if both 1<sup>st</sup>
disbursements of the sub and unsub were made before July 1, 2010, and these
disbursements are not cancelled or cancelled and rescheduled for a first
disbursement after July 1, 2010. <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><i><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-style:italic'>Example:<o:p></o:p></span></font></i></p>
<p class=MsoNormal><i><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-style:italic'>A sub and unsub loan both have a first
disbursement made 6/15/10 and a second disbursement scheduled 7/20/10.<o:p></o:p></span></font></i></p>
<p class=MsoNormal><i><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-style:italic'>The school requests a sub/unsub
reallocation 7/7/10.<o:p></o:p></span></font></i></p>
<p class=MsoNormal><i><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-style:italic'>The reallocation can be made because the
first disbursement was made prior to 7/1/10 (and no cancellation of the first
disbursement was done resulting in the first disbursement occurring after 7/1/10).<o:p></o:p></span></font></i></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><b><u><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-weight:bold'>Cancellation<o:p></o:p></span></font></u></b></p>
<p class=MsoNormal><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'>If a first disbursement is made on a FFELP loan prior to
July 1, 2010 and a 2<sup>nd</sup> disbursement is scheduled to
occur after July 1, 2010 - but the first disbursement is returned after
July 1, 2010 - the lender and school cannot make the 2<sup>nd</sup>
disbursement.<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><i><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-style:italic'>Example:<o:p></o:p></span></font></i></p>
<p class=MsoNormal><i><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-style:italic'>FFELP loan has a first disbursement date
of 6/20/10 and a second disbursement date of 7/20/10.<o:p></o:p></span></font></i></p>
<p class=MsoNormal><i><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-style:italic'>The school returns the first disbursement
on 7/3/10.<o:p></o:p></span></font></i></p>
<p class=MsoNormal><i><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-style:italic'>Second disbursement cannot be made because
a new FFELP loan must have had a first disbursement date BEFORE 7/1/10.<o:p></o:p></span></font></i></p>
<p class=MsoNormal><i><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial;font-style:italic'><o:p> </o:p></span></font></i></p>
<p class=MsoNormal><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'>See <a
href="http://www.nchelp.org/initiatives/DLTransition/DLTransitionQASeries2-05102010.pdf"
title="http://www.nchelp.org/initiatives/DLTransition/DLTransitionQASeries2-05102010.pdf">Q&A’s</a>
developed by NCHELP, SLSA, EFC, and CBA (Question and Answers 1-4) for
additional detailed information on these two topics and many others.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:Arial;color:black'>***************************************************************************************************************************<o:p></o:p></span></font></p>
<p><st1:place w:st="on"><st1:PlaceName w:st="on"><b><font size=5 color=navy
face=Sylfaen><span style='font-size:18.0pt;font-family:Sylfaen;color:navy;
font-weight:bold'>Penny</span></font></b></st1:PlaceName><b><font size=5
color=navy face=Sylfaen><span style='font-size:18.0pt;font-family:Sylfaen;
color:navy;font-weight:bold'> <st1:PlaceName w:st="on">Gandy</st1:PlaceName></span></font></b>
<br>
<st1:PlaceType w:st="on"><b><font size=2 color=navy face=Sylfaen><span
style='font-size:10.0pt;font-family:Sylfaen;color:navy;font-weight:bold'>School</span></font></b></st1:PlaceType></st1:place><b><font
size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;font-family:Sylfaen;
color:navy;font-weight:bold'> and Lender Support Services Manager</span></font></b>
<br>
<st1:State w:st="on"><strong><b><font size=2 color=navy face=Sylfaen><span
style='font-size:10.0pt;font-family:Sylfaen;color:navy'>Oklahoma</span></font></b></strong></st1:State><strong><b><font
size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;font-family:Sylfaen;
color:navy'> Guaranteed Student Loan Program</span></font></b></strong><b><font
size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;font-family:Sylfaen;
color:navy;font-weight:bold'><br>
<em><i><font face=Sylfaen><span style='font-family:Sylfaen'>A Division of the
State Regents for Higher Education</span></font></i></em></span></font></b> <br>
<b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy;font-weight:bold'>PO Box 3000</span></font></b> <br>
<b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy;font-weight:bold'>Oklahoma City, OK
73101-3000</span></font></b> <br>
<b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy;font-weight:bold'>p. (405)
234-4364 f. (405) 234-4553</span></font></b> <br>
<b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy;font-weight:bold'>(TDD/TRS) 800-522-8506</span></font></b>
<br>
<b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy;font-weight:bold'><a
href="mailto:pgandy@ogslp.org" title="mailto:pgandy@ogslp.org">pgandy@ogslp.org</a></span></font></b>
<o:p></o:p></p>
<p><font size=2 color=navy face="MS Sans Serif"><span style='font-size:10.0pt;
font-family:"MS Sans Serif";color:navy'>Note: This communication and
attachments, if any, are intended solely for the use of the addressee hereof.
In addition, this information and attachments, if any, may contain information
that is confidential, privileged and exempt from disclosure under applicable
law including, but not limited to, the Privacy Act of 1974. If you are not the
intended recipient of this information, you are prohibited from reading,
disclosing, reproducing, distributing, disseminating, or otherwise using this
information. If you have received this message in error, please promptly notify
the sender and immediately delete this communication from your system.</span></font><font
face=Sylfaen><span style='font-family:Sylfaen'><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=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'><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><st1:place w:st="on"><st1:PlaceName w:st="on"><b><font size=5 color=navy
face=Sylfaen><span style='font-size:18.0pt;font-family:Sylfaen;color:navy;
font-weight:bold'>Penny</span></font></b></st1:PlaceName><b><font size=5
color=navy face=Sylfaen><span style='font-size:18.0pt;font-family:Sylfaen;
color:navy;font-weight:bold'> <st1:PlaceName w:st="on">Gandy</st1:PlaceName></span></font></b>
<br>
<st1:PlaceType w:st="on"><b><font size=2 color=navy face=Sylfaen><span
style='font-size:10.0pt;font-family:Sylfaen;color:navy;font-weight:bold'>School</span></font></b></st1:PlaceType></st1:place><b><font
size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;font-family:Sylfaen;
color:navy;font-weight:bold'> and Lender Support Services Manager</span></font></b>
<br>
<strong><b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy'>Oklahoma Guaranteed Student Loan Program</span></font></b></strong><b><font
size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;font-family:Sylfaen;
color:navy;font-weight:bold'><br>
<em><i><font face=Sylfaen><span style='font-family:Sylfaen'>A Division of the
State Regents for Higher Education</span></font></i></em></span></font></b> <br>
<b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy;font-weight:bold'>PO Box 3000</span></font></b> <br>
<b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy;font-weight:bold'>Oklahoma City, OK
73101-3000</span></font></b> <br>
<b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy;font-weight:bold'>p. (405)
234-4364 f. (405) 234-4553</span></font></b> <br>
<b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy;font-weight:bold'>(TDD/TRS) 800-522-8506</span></font></b>
<br>
<b><font size=2 color=navy face=Sylfaen><span style='font-size:10.0pt;
font-family:Sylfaen;color:navy;font-weight:bold'><a
href="mailto:pgandy@ogslp.org">pgandy@ogslp.org</a></span></font></b> <o:p></o:p></p>
<p><font size=2 color=navy face="MS Sans Serif"><span style='font-size:10.0pt;
font-family:"MS Sans Serif";color:navy'>Note: This communication and
attachments, if any, are intended solely for the use of the addressee hereof.
In addition, this information and attachments, if any, may contain information
that is confidential, privileged and exempt from disclosure under applicable
law including, but not limited to, the Privacy Act of 1974. If you are not the
intended recipient of this information, you are prohibited from reading,
disclosing, reproducing, distributing, disseminating, or otherwise using this
information. If you have received this message in error, please promptly notify
the sender and immediately delete this communication from your system.</span></font><font
face=Sylfaen><span style='font-family:Sylfaen'><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>
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