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News from NASFAA
HHS Electronic Announcement
HEAL Refinancing Mailing Scheduled
HEAL Refinancing Update from Stephen J. Boehlert, U. S. Department of Health and Human Services, Health Resources and Services Administration, Division of Student Assistance, Health Education Assistance Loan Program
"The HEAL Program will be direct mailing information on HEAL Refinancing to more than 50,000 eligible HEAL borrowers on or about May 1, 1998. We are planning to provide borrowers with a current refinancing lender rate sheet, a web site containing a calculator that a borrower can use to compare lender rates for their particular situation, and a HEAL Program e-mail address where borrowers may send comments and/or ask questions.
"We will provide schools, associations, and lenders with a copy of the materials when they are available.
"I am also pleased to announce that Crestar Bank recently announced that it would offer a refinancing rate of T-bill + 1.5 percent for borrowers who apply by telephone. This is the lowest rate ever for HEAL Refinancing! For the quarter ending March 31, 1998 the Crestar rate is 6.75 percent. Crestar mailed to borrowers on March 2 announcing this rate. Now all borrowers can refinance without an increase in interest rate. We will continue to keep you informed."
- Posted March 23, 1998, NASFAA Web Site www.nasfaa.org
