Publication Date: March 4, 2008
Author: Jeff Baker, Director Policy Liaison and Implementation, Federal Student Aid
Summary: Secretary Spellings Letter to Institutional Presidents
Posted on 03-04-2008
This announcement is to inform financial aid administrators that on February 27, 2008, a letter from Secretary of Education Margaret Spellings was mailed to the chief executive officer of each postsecondary educational institution that participates in the Federal Family Education Loan (FFEL) Program. That letter, a copy of which can be accessed at: http://www.ed.gov/policy/gen/guid/secletter/index.html, discusses the recent uncertainty in credit markets and its impact on the continued availability of student loans. In that letter the Secretary asks her Federal Student Aid staff to contact financial aid administrators at institutions that participate in the FFEL Program to inquire if they have information of any lenders that plan to reduce, suspend, or discontinue making student loans. To that end, within the next several days, we will be sending an email message to financial aid administrators at FFEL institutions asking for any information they have on this matter.
On behalf of Secretary Margaret Spellings, I thank you in advance for your cooperation in complying with this request.