Publication Date: May 22, 2013
| DCL ID: | ANN-13-05 |
Subject: Live Internet Webinar - 150% Direct Subsidized Loan Time Limit
Summary: This letter announces the second in a series of instructor-led, online training sessions providing information on the implementation of the new 150 percent limit for Direct Subsidized Loans. Participants may choose between one of three dates when registering for this single 90 minute webinar.
Dear Colleague:
We are pleased to announce that on June 11, 12, and 13, 2013 at 1:00 P.M. (ET) we will present the second in a series of webinars on the regulatory requirements related to the implementation of the 150 percent time limit for a student to receive Direct Subsidized Loans. This webinar will explain key concepts related to implementation of the 150 percent Direct Subsidized Loan limit provisions and will provide an overview of new Common Origination and Disbursement (COD) System and National Student Loan Data System (NSLDS) reporting requirements that are critical to implementation of the new provisions.
On July 6, 2012, the Moving Ahead for Progress in the 21st Century Act (MAP-21) (Public Law 112-141) was enacted. MAP-21 added a new provision to the Direct Loan statutory requirements (see HEA section 455(q)) that limits a first-time borrower's eligibility for Direct Subsidized Loans to a period not to exceed 150 percent of the length of the borrower's educational program. Under certain conditions, the provision also causes first-time borrowers who have exceeded the 150 percent limit to lose the interest subsidy on their Direct Subsidized Loans. Only first-time borrowers on or after July 1, 2013 are subject to the new provision. On May 16, 2013, we published interim final regulations in the Federal Register implementing this provision of MAP-21 (See 78 FR 28953).
Note: While interim final regulations have immediate legal effect, the public is invited to submit comments on the interim final regulations until July 1, 2013, according to the instructions provided in the May 16, 2013 Federal Register. The webinar will not be a forum for submitting comments on the regulations.
The first webinar in this series, previously announced in ANN-13-04, will provide important information on the reporting and updating of academic year and loan period dates to the COD System. Refer to ANN-13-04 for further details and registration information.
This webinar will be presented in a single 90 minute session offered at 1:00 P.M. (ET) on Tuesday, June 11, Wednesday, June 12, and again on Thursday, June 13, 2013. A Q&A period will follow the presentation. Trainees should register for just one of the sessions as the presentation will be the same on each of the three days.
Note: There may be a difference between a trainee's local time and Eastern Time. To determine local time and its Eastern Time zone equivalent, click on this link:
Advance registration is required for this training and will be available on a first-come, first-served basis. To allow for as many participants as possible, we strongly encourage groups to view the webinar from a single location if accommodations allow. If viewing as a group, only one person from the group needs to register.
To register for the webinar, click on this link:
Once registered, we will send an e-mail confirmation to the trainee. The trainee should retain this confirmation, as it contains important information, including linking and log in information for the Web site, system test links, and cancellation information. If unable to attend, we request that the trainee cancel his or her registration so that individuals who wish to attend may do so.
PowerPoint slides will be available for each trainee to download after he or she signs in to the webinar. During the webinar, trainees will be able to ask questions electronically using their computers.
We look forward to your participation in this instructor-led, online training opportunity. If you have questions about this training opportunity, please contact Greg Martin at gregory.martin@ed.gov.
Sincerely,
Jana Hernandes
Service Director, Operations
Federal Student Aid