Publication Date: February 6, 2015
| DCL ID: | ANN-15-03 |
Subject: Live Internet Webinar - Implementation of Regulatory Changes to the Adverse Credit History Provisions of the Direct PLUS Loan Program (Updated February 16, 2015)
Summary: This letter announces an instructor-led, online training session that will provide information about Common Origination and Disbursement (COD) System operational changes resulting from the new Direct PLUS Loan adverse credit history regulatory provisions.
Note: The Webinar “Implementation of Regulatory Changes to the Adverse Credit History Provisions of the Direct Loan Program” has been cancelled due to expected inclement weather. The webinar originally scheduled for Tuesday, February 17, 2015 at 1:00pm EST will be rescheduled. Please monitor IFAP for the rescheduled date.
Dear Colleague:
We are pleased to announce that on February 17, 2015 at 1:00 P.M. (ET) we will present a webinar that will discuss COD System operational changes resulting from the new Direct PLUS Loan Program adverse credit history regulatory provisions. As described in a January 27, 2015 Electronic Announcement posted to the Information for Financial Aid Professionals (IFAP) Web site, these regulatory changes include revised criteria for determining that a Direct PLUS Loan applicant has an adverse credit history, and a new loan counseling requirement for applicants who are determined to have an adverse credit history, but who qualify for a Direct PLUS Loan by documenting extenuating circumstances or obtaining an endorser. In addition, the Department will modify its procedures so that a credit check for a PLUS Loan applicant will remain valid for 180 days, instead of the current 90 days.
The webinar will include an overview of the new regulations, which will be implemented on March 29, 2015. The webinar will also provide information regarding the impact on schools and an overview of the operational changes planned for the COD System.
Federal Student Aid staff will present this webinar in a one-hour session offered on Tuesday, February 17, 2015 at 1:00 P.M. (ET).
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:
http://fsaregistration.ed.gov/d/crqk4s
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 Marcia Boyd at marcia.boyd@ed.gov.
Sincerely,
Jana Hernandes
Service Director, Operations
Federal Student Aid