| PublicationDate: 3/17/99 Summary: Return of Verification Certification Forms Within Ten-Days Author: DLTF - Direct Loan Task Force Posted on March 17, 1999 DATE: March 17, 1999 FROM: Denise Leifeste U.S. Department of Education Direct Consolidation Loan Team TO: Financial Aid Directors SUBJECT: Return of Verification Certification Forms Within Ten-Days During the period October 1, 1998 through January 31, 1999, the Department provided borrowers with an opportunity to consolidate their FFEL, Perkins, Direct and other qualified Federally insured loans under the William D. Ford Direct Loan Consolidation Program at a reduced interest rate equivalent to the rate offered on Stafford Loans (7.46%). A critical, and perhaps unfamiliar, step for Financial Aid Directors in completing the loan consolidation process for borrowers that have Perkins or other Federally insured campus-based loans, is the completion and return of the Verification Certification Form. This is the form the Financial Aid Director uses to list the loan amounts a student owes. The data provided on this form is essential to consolidating those loan amounts on behalf of the borrower. The Verification Certification Form must be returned to the Montgomery, Alabama Loan Origination Center within ten-days of its receipt, or the consolidation process is interrupted. To give the best service to your students and alumni for whom you hold Perkins and other Federally insured campus-based loans, please return Verification Certification Forms to the Loan Origination Center within ten-days of their receipt. If you have any questions, or need help in completing the form, please call the Certification Team at (334) 206-7433. They are the Experts and will be happy to assist you. |