ED's release of trial, three-year cohort default rate data prompts more questions
ED posted trial, three-year cohort default rates (CDRs) on its Federal Student Aid Data Center Web site. The three-year rates were provided for information only. But what exactly are the CDR thresholds that trigger default rate benefits or sanctions? This article provides an overview.

ED issues record retention guidance for loans pledged or sold to ECASLA Conduit
ED released ECASLA Electronic Announcement (E-ANN) #78, regarding the retention of records needed to establish eligibility of loans pledged to the conduit lender.

ED guidance to lenders concerning required disclosures for borrowers having difficulty making payments
In the final rules published on October 29, 2009, the Federal Register reorganized and expanded §682.205 to include a series of new disclosures as required by the Higher Education Opportunity Act (HEOA). One new disclosure requirement notes that a disclosure must be provided to those borrowers having difficulty making payments.

ED announces the availability of recorded trainings that focus on final rules
ED published two separate Dear Colleague Letters (DCL), informing schools and lenders of the availability of recorded webinar sessions that focus on the final rules.

Advisory Committee on Student Financial Assistance encourages public comment
The Higher Education Opportunity Act of 2008 mandated that the ACSFA conduct a Higher Education Regulations Study to review and analyze current federal regulations affecting higher education. Phase 1 of the study focused on Title IV regulations. Preliminary analysis of public comment gathered for this phase began on July 15, 2009. On December 17, 2009, the ACSFA issued a press release regarding phase 2, which proposes to move beyond Title IV regulations and begin to examine the impact of all federal regulations within the Higher Education Act.

Closed school corner
ED announced one school closure during December 2009.

Register for TG's upcoming Texas regional trainings
TG's regional trainings provide a collegial environment in which to discuss regulatory developments as well as learn more about trends and events in the student financial aid industry. TG offers several day-long workshops in February, one in Austin on February 18, and one in El Paso on February 19 at the Western Technical College.

Ask the Policy Expert
ED has recently made available a revised Federal Perkins Master Promissory Note (MPN) with an expiration date of August 31, 2012, and an Addendum for borrowers who signed a previous version of the Federal Perkins MPN. What is the date on which schools must use the revised MPN?