Summary: Extension of filing deadline under Dear Colleague Letter 98-L-202
SUBJECT: Extension of filing deadline under Dear Colleague Letter 98-L-202
This letter is in reply to a request for an extension of the 90-day filing deadline established in Dear Colleague Letter 98-L-202 for the filing by lenders for additional special allowance payments on loans affected by the court decision in Bank of America N.T. & S.A. v. Riley, 1997 U.S. App. LEXIS 28483 (D.C. Cir. 1997), affg 940 F.Supp. 348 (D.D.C. 1996).
After careful consideration the Department of Education (the Department) has decided to grant lenders an additional 60 days to request these payments. The Department believes this additional time will be more than adequate and no additional extension will be considered. The new deadline for filing a supplemental ED Form 799 (Lenders Interest and Special Allowance Request and Report) related to Bank of America N.T. & S.A. v. Riley will be August 31, 1998. Detailed instructions for submitting this form are included in Dear Colleague Letter 98-L-202.
Penalty interest will not be paid on requests received during the extension period past the original April 30, 1998 cutoff referenced in Dear Colleague 98-L-202.
Please direct any questions to Angela Baker at (202) 401-3255.
Diane E. Rogers
Acting Deputy Assistant Secretary
Student Financial Assistance Programs