Publication Date: July 5, 2006
Author: Gary Hopkins, General Manager, Borrower Services, Federal Student Aid
Summary: This letter announces a credit bureau reporting for assignments to the Conditional Disability Discharge Unit
Posted on 07-05-2006
This letter announces that the U.S. Department of Education (Department) has approved changes in the handling of credit bureau reporting for total and permanent disability loan assignments to the Department's Conditional Disability Discharge Unit. These changes are the result of recommendations made to the Department by the consumer reporting industry in partnership with the National Council of Education Loan Programs (NCHELP).
The attached documents summarize ("New Credit Bureau Reporting for Assignments for Conditional Disability Discharge - Chart") and detail ("New Credit Bureau Reporting for Assignments for Conditional Disability Discharge - Detail") these recommendations.
Effective upon receipt of this notice, you may begin to implement these changes.
This notice replaces and supersedes the guidance regarding credit bureau reporting that was originally provided to loan holders in DCL 02-03, May 2002.
For your information, the CDD Unit estimates that it will be able to report using the new credit bureau reporting codes, as recommended, by the end of July 2006.
If you have any questions on the information provided in this letter, please send all inquiries to 'email@example.com'.