Posted Date:February 28, 2014
|Author:||Sue O'Flaherty, Service Director, Program Management, Federal Student Aid|
Subject: New Direct Consolidation Loan Process Information - Continued Use of Current Forms Until Revised Forms Are Approved by OMB
Some of the forms used in connection with the new Direct Consolidation Loan process that we implemented on January 2, 2014, as well as the loan consolidation process that we are phasing out, have an expiration date that has already passed. In the table below, we provide the financial aid community with important information on the status of these forms:
|Direct Consolidation Loan Forms |
(OMB No. 1845-0053)
|2/28/2014||Revised versions of these forms are currently going through the Office of Management and Budget (OMB) clearance process. Until the revised forms are approved by OMB and implemented, the current forms with the 2/28/2014 expiration date will remain valid for use.|
|Repayment Plan Selection |
(OMB No. 1845-0014)
|11/30/2013||A revised version of this form (renamed “Repayment Plan Request”) was recently approved by OMB and will be implemented in the future. Until the new form is implemented, the current version with the 11/30/2013 expiration date will remain valid for use.|
We appreciate the support of the financial aid community as we complete the OMB forms clearance process and prepare to implement the new versions of forms used in connection with making Direct Consolidation Loans.
Contact information for the consolidation servicers is available on the IFAP Web site’s Loan Consolidation for Loan Holders and Servicers page.
General information about Direct Consolidation Loans is available on the StudentAid.gov Web site at http://studentaid.ed.gov/repay-loans/consolidation.