Federal Updates

ED provides additional loan servicing information

ED has released the second in a series of Electronic Announcements (E-ANN) providing information on the transition to additional loan servicers beginning in September 2009. The first E-ANN (see Shoptalk Online edition 519) provided an overview of the new servicing approach, details about the servicing of purchased FFELP loans beginning September 2009, and additional announcements and contact information.

In this E-ANN, ED provides customer service contact information and National Student Loan Data System (NSLDS) identifier information for all of its servicers as well as additional announcements and contact information.

More information
The full E-ANN is available on the Information for Financial Aid Professionals (IFAP) Web site at http://ifap.ed.gov/eannouncements/081609LoanServINSLDSnfoCustSer.html.

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Policies and procedures guidance

On September 10, ED announced the availability of its Guide to Creating a Policies and Procedures Manual. ED developed the guide to assist schools in creating and revising written documentation of how they comply with Title IV federal regulations. The guide features activities designed to help schools meet the minimum general requirements with regard to documented policies and procedures, and also highlights additional areas for which written policies and procedures are suggested in the Federal Student Aid Handbook.

More information
ED's full announcement is available at http://ifap.ed.gov/eannouncements/091009PolicyProceduresManualGuidance.html. The policies and procedures manual guidance is available through IFAP's Quality Assurance Web site at: http://ifap.ed.gov/qahome/qaassessments/makingofapandpmanual.html.

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