Review of Recent Announcements

As a service to its participating schools and lenders, the Utah Higher Education Assistance Authority (UHEAA) offers the following review of recent announcements and releases from the U.S. Department of Education or other sources. These reminders cover topics of general interest and importance that relate to the administration of federal student aid.

Any questions related to this Bulletin should be directed to UHEAA Policy and Training at 801.321.7166 or by e-mail to mjohnson@utahsbr.edu

A monthly summary of selected announcements, publications and guidance from the U.S. Department of Education brought to you by UHEAA.

 

Dear Partner/Colleague Letters

GEN-05-08

http://www.ifap.ed.gov/dpcletters/GEN0508.html

Subject: Lenders' Options for Determining Federal Consolidation Loan Interest Rates and Permitting Borrowers to Enter Repayment Early

Summary: This letter addresses questions relating to the determination of consolidation loan interest rates under the Federal Family Education Loan (FFEL) Program and clarifies the early repayment option available to borrowers under Section 428(b)(7) of the Higher Education Act of 1965, as amended.

 

Electronic Announcements

Summary: Federal Pell Grant 2005-2006 Award Year Initial Authorization for Advanced Funded Schools http://www.ifap.ed.gov/eannouncements/0520InitialAuthAdvanFundSchools.html

 

Federal Register

Federal Register: May 24, 2005 (Volume 70, Number 99)

"Constitution and Citizenship Day"

http://www.ifap.ed.gov/fregisters/FR05242005.html

Notice of Implementation of Constitution Day and Citizenship Day on September 17 of Each Year.

SUMMARY: The Assistant Deputy Secretary for Innovation and Improvement announces that, pursuant to legislation passed by Congress, educational institutions receiving Federal funding are required to hold an educational program pertaining to the United States Constitution on September 17 of each year. This notice implements this provision as it applies to educational institutions receiving Federal funding from the Department.

 

Federal Register: May 26, 2005 (Volume 70, Number 101 )

http://www.ifap.ed.gov/fregisters/FR05262005.html

Notice of revision of the Federal Need Analysis Methodology for the 2006-2007 award year.

SUMMARY: The Secretary of Education announces the annual updates to the tables that will be used in the statutory ``Federal Need Analysis Methodology'' to determine a student's expected family contribution (EFC) for award year 2006-2007 under Part F of Title IV of the Higher Education Act of 1965, as amended (HEA). An EFC is the amount a student and his or her family may reasonably be expected to contribute toward the student's postsecondary educational costs for purposes of determining financial aid eligibility. The Part F Programs include the Federal Pell Grant, campus-based (Federal Perkins Loan, Federal Work-Study, and Federal Supplemental Educational Opportunity Grant Programs), Federal Family Education Loan, and William D. Ford Federal Direct Loan Programs (Title IV, HEA Programs).

 

FSA Handbook

Award Year: 2005-2006

Chapter Title: Volume 5 - FSA Handbook: Overawards, Overpayments, & Withdrawal Calculations

Section Title: Volume 5 - Overawards, Overpayments, & Withdrawal Calculations

http://ifap.ed.gov/sfahandbooks/0506fsahandbookvol5.html