Bulletin ID
DLB - 97 - 20
| PublicationDate: 7/1/97 BulletinID: DLB - 97 - 20 DLB-97-20 July 1997 SUBJECT: Direct Loans Publications Update Dear Colleague: We are pleased to announce that our counseling materials, the Repayment Book and the Direct Loan School Guide are on target for the July distribution we promised. Listed below is a description of each item and its availability date. The Entrance Counseling Guide for Counselors offers tips on what to cover in entrance counseling and gives explanations that follow the order of topics in the Entrance Counseling Guide for Borrowers. (Available July 14) The Entrance Counseling Guide for Borrowers covers topics such as loan amounts, interest rates, capitalization of interest, and--briefly-- the repayment plans available under Direct Loans. Also discussed are deferments, forbearance, the consequences of default and tips on how students can budget their money. (Available July 14) The Exit Counseling Guide for Counselors explains what counselors must cover to meet the Department of Education's regulatory requirements, offers tips in organizing counseling sessions, and presents an outline of discussion topics that follow the Exit Counseling Guide for Borrowers. (Available July 14) The Exit Counseling Guide for Borrowers explains the role of the Direct Loan Servicing Center and covers the repayment plans in depth. It also covers Direct Consolidation Loans, deferment, forbearance, discharge (cancellation), the consequences of default and tips on how to budget after school and avoid default. (Available July 14) Entrance/Exit Videos and Counseling Kits are designed to supplement written entrance and exit counseling materials. The videos are approximately 20 minutes each and illustrate situations your students are likely to face. You will receive them in a vinyl counseling kit designed to hold the videos AND the Entrance and Exit Counseling Guides. A very limited quantity is available w/spanish subtitles. Please note that the kit will contain only the videos. Counseling materials will arrive separately as ordered. (Now available) The Repayment Book explains in detail the four repayment plans available under Direct Loans and gives examples of how each plan works. The booklet includes a table that allows borrowers to see at a glance approximately how much they would repay (per month and in total) under each repayment plan (assuming different debt levels). Worksheets (and supplementary charts) allow borrowers, including Direct PLUS borrowers, to estimate what they would owe under each repayment plan, based on their actual circumstances. This book will help borrowers choose the repayment plan best for them. (Now Available) The Direct Loan School Guide provides simple answers to your questions about how to administer the Direct Loan Program and describes how to access the additional resources available to you. To order these materials please call the Loan Origination Center at 1-800-848-0978 or use the order form enclosed with the MAILED version of this bulletin. You should receive your materials within two weeks of placing your order. If you have already placed a back order, your shipment should arrive one to two weeks from the item's availability date. The 1997-98 Direct Loan School Guide cannot be ordered in bulk. The LOC will mail one copy to each Financial Aid Administrator. Many of you have already ordered our general publications, All About Direct Loans, Direct Loans: A Better Way to Borrow, and PLUS Loan Basics. According to our distribution center, all back orders for these materials have been filled. If you have not received your back ordered shipment, please contact the Loan Origination Center--1-800-848-0978. We have included these items on the enclosed order form for those schools who have not yet placed an order or will need to place another order in the future. Please note that we have removed the award year date from the front cover of many of our publications. This is because we do not expect a need to update these publications for the next award year. It is expected that these publications will take on a two-year revision cycle. Any dated publication will be revised on a yearly basis. We hope that you find these publications helpful and we thank you for your continued support of the Direct Loan Program. Sincerely, Joe L. McCormick, Chair Direct Loan Task Force Attachment |