Shoptalk 526, October 20, 2009

Industry Update

ED issues new loan purchase programs guidance

On October 14, 2009, ED released ECASLA Electronic Announcement (E-ANN) #73, regarding the second amended and restated Put Agreement.

In E-ANN #49, ED posted the Put Agreement between the U.S. Department of Education and The Bank of New York Mellon as Conduit Administrator and Eligible Lender Trustee and Straight-A Funding, LLC dated January 19, 2009, including Exhibits. The Put Agreement was amended on May 8, 2009, and posted in E-ANN #61.

This announcement supersedes E-ANN #61. The Put Agreement was amended again on July 31, 2009. Attached to this E-ANN (#73) are the Executed Second Amended and Restated Put Agreement and the amendments as reflected in the executed version.

More information
The complete announcement and attachments, as well as all previous ECASLA E-ANNs, are available on ED's ECASLA Web site at http://federalstudentaid.ed.gov/ffelp.