Posted Date:April 15, 2009
Author: Jeff Baker, Director Policy Liaison and Implementation, Federal Student Aid
Subject: Notices of Intent to Participate in the Department's 2009-2010 Academic Year Loan Purchase Programs
This announcement provides information regarding the requirement that a lender or loan holder that participates in the FFEL Program submit a 2009 Notice of Intent to Participate to preserve its rights to participate in either of the two 2009-2010 Loan Purchase Programs (Participation Purchase Program and the Loan Purchase Commitment Program). This is true even if the lender/holder had submitted a Notice of Intent to Participate for the 2007-2008 or the 2008-2009 programs.
Because loans first disbursed on or after May 1, 2009 for the 2009-2010 Award Year are eligible for the 2009-2010 Loan Purchase Programs, we strongly encourage lenders and holders to submit a 2009 Notice of Intent to Participate prior to May 1, 2009 to ensure that all otherwise eligible loan are eligible for the programs. A 2009 Notice of Intent to Participate received after May 1, 2009 limits eligible loans to only those where the first disbursement was made (or title obtained) on or after the date the Department receives the 2009 Notice of Intent to Participate.
Please review Electronic Announcement for information on the submission process for the 2009 Notice of Intent to Participate. If you have any questions, you may contact (202) 377-4401.
For complete and current information on the Loan Purchase Programs please visit www.federalstudentaid.ed.gov/ffelp.