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Summary: Correction to 2003-2004 Funding Your Education regarding loan cancellation provisions

Publication Date: February 10, 2003

Author: General Manager: FSA Students Channel

Summary: Correction to 2003-2004 Funding Your Education regarding loan cancellation provisions

 

Posted on 02-10-2003

 

TO: Financial Aid Professionals
FROM: Jennifer Douglas, General Manager, Students Channel
SUBJECT: Correction to 2003-2004 Funding Your Education regarding loan cancellation provisions

On page 12 of Funding Your Education, 2003-2004, the following correction needs to be made under "Can the Loans Ever be Canceled?" The third bullet, concerning cancellation as a full-time teacher, applies only to FFEL and Direct Stafford Loan borrowers, NOT to PLUS Loan borrowers. Therefore, the parenthetical phrase in the first line of the material, "(including a PLUS Loan)" should be deleted. Also, the third bullet should read as follows:

  • The student is a full-time teacher for five consecutive years in a designated elementary or secondary school serving students from low-income families. (This provision does not apply to PLUS Loan borrowers.)

We are making this correction in our online version of Funding Your Education. Note that the upcoming Spanish version of Funding will contain the correct material.

We apologize for this error.