Posted Date:March 10, 2014
| Author: | Jeff Baker, Director, Policy Liaison and Implementation, Federal Student Aid |
Subject: 150% Direct Subsidized Loan Limit: Electronic Announcement #11 - Update to Worksheet Used to Calculate Remaining Eligibility for Short-Term Programs
Background
As noted in 150 Percent Direct Subsidized Loan Electronic Announcement #8, we published final regulations that revised several provisions of the regulations governing the 150% Direct Subsidized Loan Limit.
In 150 Percent Direct Subsidized Loan Limit Electronic Announcement #5, we informed schools of their limited responsibility to perform manual Remaining Eligibility Period calculations before originating a Direct Subsidized Loan to a first-time borrower who is enrolled in certain short-term programs. In that Electronic Announcement, we also provided an interactive worksheet to assist schools in performing those calculations.
Attached to this Electronic Announcement is an updated worksheet that reflects the changes made by the final regulations. Schools should begin using the revised worksheet for 150% Direct Subsidized Loan calculations that are made on or after March 18, 2014.
For questions relating to the Excel worksheet referenced above, please send an email message to 150Percent-Questions@ed.gov. Please include the organizational affiliation in the subject line.
We thank all schools for assisting us during this period of transition.