Posted Date:August 15, 2016
|Author:||Jeff Baker, Director, Policy Liaison and Implementation, Federal Student Aid|
Subject: Publication of a Federal Register Notice Inviting Institutions to Participate in Loan Counseling Experiment Under the Experimental Sites Initiative
As announced today in a Federal Register notice, postsecondary educational institutions are invited to apply to participate in a new institutionally-based loan counseling experiment under the Experimental Sites Initiative (ESI). We have attached a copy of the Federal Register notice to this announcement.
This experiment will provide participating institutions with the authority to require additional loan counseling beyond the statutorily required one-time entrance and one-time exit counseling as a condition for the student to receive Direct Loan funds.
As noted in the Federal Register, letters of interest from institutions interested in participating in the experiment must be submitted to the Department, following the procedures outlined in the notice no later than September 29, 2016 to receive priority consideration.
We thank you for your interest in the ESI.