Posted Date:July 3, 2012
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: Special Direct Consolidation Loan Information - Application Period Ended June 30, 2012
The application period for the Department of Education’s (the Department’s) Special Direct Consolidation Loan initiative ended at 11:59 P.M. (ET) on June 30, 2012. While we stopped accepting borrowers’ online applications on June 30th, all applications that were submitted by the deadline will be transmitted to and processed by one of our four Special Direct Consolidation Loan servicers – FedLoan Servicing (PHEAA), Great Lakes Educational Loan Services, Inc., Nelnet, or Sallie Mae.
We appreciate the support provided by the entire financial aid community during the Special Direct Consolidation Loan application period. In particular, we acknowledge the assistance that Federal Family Education Loan (FFEL) lenders and lender servicers have provided to date and will continue to provide during post-application period processing.
Our goal during post-application period processing is to continue to ensure a smooth and seamless experience for borrowers who have chosen to take advantage of the Special Direct Consolidation Loan opportunity. Questions that arise during post-application period processing should be handled as follows:
For general questions, a borrower who has submitted an application can refer to our Special Direct Consolidation Loans page on the StudentLoans.gov Web site.
For borrower-specific questions, a borrower who has submitted an application needs to contact the Special Direct Consolidation Loan servicer handling his or her consolidation. To locate the servicer’s contact information, the borrower should refer to the second e-mail the borrower received after completing the online application or other Special Direct Consolidation Loan correspondence the borrower has received from the servicer.
For lender/lender servicer processing reminders, a FFEL lender or lender servicer can refer to our June 28, 2012 Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site.
We look forward to the completion of all Special Direct Consolidation Loan processing.