President Bush signed the Ensuring Continued Access To Student Loans Act(ECASLA - H.R. 5715/P.L. 110-227) in to law on May 7, 2008. The law staves off potential student loan access problems created by disruptions in the credit market by authorizing the Department of Education to purchase FFELP loans. It also created significant changes to the ACG and SMART Grant programs and increased annual and aggregate Stafford Loan limits. A year-long extension of the Act was signed into law in Oct 2008. The extension allows the Department of Education to continue purchasing FFELP loans through June 30, 2010.

Summary and Language

• Text of law (P.L. 110-227) Ensuring Continued Access To Student Loans Act
  
  
• NASFAA's Summary of the Ensuring Continued Access To Student Loans Act
  
  
• Year-Long Extension Of ECASLA Signed Oct 2008

News and Resources from NASFAA

• Latest ECSLA News from NASFAA

• Financial Aid Administrators' Perspectives on the Student Loan Crunch and Preferred Lender Lists A survey of NASFAA members, July 2008

• NASFAA H.R. 5715 Stafford Loan Limit Charts

• ECASLA Media Coverage

Department of Education Guidance

• Dear Colleague Letters, Electronic Announcements, and Federal Registers