ED Releases Final Rules on School-Based Loan Issues, NASFAA Training Scheduled for Nov. 12
The Federal Register published final rules on school-based loan issues this morning in the Federal Register. These rules were developed through the negotiated rulemaking (negreg) process. NASFAA representatives did participate on Team II (the team that tackled these issues) and did submit clarifying comments and questions after reviewing the Notice of Proposed Rulemaking (NPRM) in July.
NASFAA staff is reviewing these final rules and will provide members a comprehensive overview and summary of the new regulations as part of its Fall Training Series: "Implementing Reauthorization Final Rules." Training on school-based loan issues will take place on Nov. 12 and will cover issues pertaining to preferred lender relationships, cohort default rate calculations, and new Title IV and private loan disclosure requirements, among several other things.
During Fall Training, members can expect to receive an initial analysis of the impacts of the final regulations; directions and examples of how to implement the provisions of the new regulations at the institution level; assistance in identifying possible changes to systems or programming, information dissemination, and policies and procedures; and receive a knowledge base for further training on the final rules at the national, state or regional level.
Throughout the negreg process, NASFAA had provided several summaries of the discussions that provide background and context for these proposed rules. Those articles include:
Posted 10/28/09 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web site questions or comments to Web@NASFAA.org.
