Clarification to Bulletins 15 and 17 on Origination Fees to Parent PLUS and Graduate/Professional PLUS Borrowers

The Utah Higher Education Assistance Authority (UHEAA) recently issued Bulletin Volume 2006, Issue 15 regarding no fee loans. That bulletin indicated UHEAA would offer no fee loans to PLUS borrowers. Please note that only Stafford borrowers will not be charged origination fees on new loans according to the schedule included with Bulletin 15.

Parent PLUS borrowers and Graduate/Professional PLUS borrowers will still be charged the 3% origination fee up front, but UHEAA will continue to offer the origination fee credit benefit. This benefit is a credit to the PLUS loan balance of an amount equal to the origination fee at the time the loan is sold to UHEAA by participating lenders.

UHEAA Bulletin Volume 2006, Issue 17 is also revised to clarify the payment of origination fees on Stafford loans and the credit of origination fee amounts to PLUS loans.

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.