Summary: REVISED FEDERAL DEFAULT CONSOLIDATION LOAN PAYOFF REPORT AND INSTRUCTIONS
REFERENCE: Sections 428(c)(2)(D)and 428(c)(6)of the HEA and
Dear Colleague Letter 95-G-286 dated
Dear Guaranty Agency Director:
Enclosed is a revised suggested format and instructions for
reporting the payoff of a defaulted Federal Family
Education Loan by a Federal Consolidation Loan. These
instructions should be used in conjunction with the ED
Form 1189 Instructions, dated January 1995.
All default FFEL loan transactions will continue to be
shown on the agency's monthly Statement of Account as
Department Directed Transactions (DDT's).
Please notify your personnel of this change. The completed
report should be mailed to:
U. S. Department of Education
Guaranty Agency Reporting
P. O. Box 23457
L'Enfant Plaza Station
Washington, D. C. 20026-3457
If you have any question or comments, please call
Judy Mittman on (202) 708-9792.
Linda Paulsen, Director
Accounting and Financial