| DCLPublicationDate: 2/1/95 DCLID: GEN-95-13 AwardYear: Summary: To inform postsecondary educational institutions how and when to report information regarding third party servicers. February 1995 GEN-95-13 PURPOSE: To inform postsecondary educational institutions how and when to report information regarding third party servicers. Dear Colleague: The Higher Education Act of 1965 (HEA), as amended by the Higher Education Amendments of 1992, Pub.L. 102-325, requires an institution of postsecondary education to provide the Secretary of Education, upon request, information about the third party servicers with which the institution has a contract. The implementing regulations, 34 CFR 668.25, state in part that: An institution that contracts with a third-party servicer to administer any aspect of the institution's participation in a Title IV, HEA program shall provide to the Secretary, upon request, a copy of the contract, including any modifications, and provide information pertaining to the contract or to the servicer's administration of the institution's participation in any Title IV, HEA program. (34 CFR 668.25(e)(2), 20 U.S.C. 1094) On behalf of the Secretary I am requesting that you provide the Department with information concerning each third party servicer under contract with your institution. We are not asking you to send us copies of all contracts your institution has with third party servicers. You will not need to provide copies of contracts until your institution applies for recertification to continue participation in the Title IV, HEA programs. We are requesting the following information for each servicer with which your institution has a contract: Servicer Name Servicer Address, City, State Zip code Servicer Employer Identification Number Servicer Telephone Number Servicer FAX Number Servicer Internet Address As the Secretary's first official request for third party servicer information, you have until March 31, 1995 to respond to the Department for your institution. After that date, you must notify the Department within 10 days of the date that your institution enters into a new contract or significantly modifies a contract; your institution or a third party servicer terminates a contract, or a third party servicer ceases to provide contracted services, goes out of business or files a petition under the Bankruptcy Code. Your notification must include the name and address of the servicer and the nature of the change or action. Please display your institution's OPEID (institutional identifier found on the eligibility or approval letter establishing its HEA eligibility) on the upper right side of the transmittal. Your report should be forwarded to one of the following addresses: if by mail: if by internet: U.S. Department of Education serve@sfa.ope.ed.gov Institutional Participation Division ATTN: Third Party Servicer Team 600 Independence Avenue, S.W. Washington, D.C. 20202-5323 if by overnight mail or courier delivery: if by fax: U.S. Department of Education (202) 260-6107 Institutional Participation Division ATTN: 3rd PSTeam ATTN: Third Party Servicer Team 7th & D Streets, S.W., GSA Building Room 3030 Washington, D.C. 20024 Finally, if you recently received a notice from the Department requesting that your institution reapply for reapproval (recertification) to continue participation in the Title IV, HEA Programs, please disregard this letter. The Application's instructions contain the information that you should follow regarding the reporting of third party servicers. Also, if your institution does not contract with any third party servicer(s) to administer the Title IV, HEA programs, you can ignore this request. We would be pleased to answer your general questions regarding this letter. Please contact the Institutional Participation Division, 202-708-4906, and ask to speak with Mr. Jack Reynolds, with Ms. Ann Clough, or with Dr. Robert Jamroz. Thank you for your cooperation with this request. Sincerely, David Longanecker |