The trade associations representing the majority of student loan providers in the Federal Family Education Loan Program (FFELP) submitted comments today on the Team I: Loans - Lender General Loans Issues Notice of Proposed Rulemaking (NPRM). These proposed regulations are needed to implement the provisions from the Higher Education Opportunity Act of 2008 (HEOA).

The Consumer Bankers Association (CBA), Education Finance Council (EFC), National Council of Higher Education Loan Programs (NCHELP), Student Loan Servicing Alliance (SLSA) signed the comments and a letter that expressed the groups' "great satisfaction that negotiators on all sides of the table were able to come together and reach consensus on this important regulatory proposal."

Comments on the NPRM are due to the Department of Education by COB August 24, 2009. Comments may be submitted via the Federal eRulemaking Portal at http://www.regulations.gov and should include the Docket ID (ED-2009-OPE-004) at the top of the comments.

Posted 08/21/09 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web site questions or comments to Web@NASFAA.org.