Bulletin ID
DLB - 99 - 56
| PublicationDate: 8/1/99 BulletinID: DLB - 99 - 56 August 1999 DLB 99-56 Subject: Further Discussion on Implementing the Three Percent Origination Fee Dear Partner: This bulletin is designed to eliminate confusion regarding implementation of the three percent origination fee. Please note the following: · The three percent origination fee must be applied to all 1999-2000 subsidized/unsubsidized loans first disbursed on or after August 15, 1999. · It does not apply to PLUS Loans or loans from previous award years. · If you have already originated a subsidized or unsubsidized 1999-2000 loan that was to be disbursed before August 15, 1999, but will now be disbursed on or after August 15, 1999, you must change the origination fee for that loan from four percent to three percent. Follow the steps provided in Direct Loan Bulletin 99-39. · You must change the first anticipated disbursement date to on or after August 15, 1999 at the same time you raise the loan amount and anticipated disbursements. Thank you for continuing to work with us in extending this very important benefit to your student borrowers. Sincerely, Margaret E. White Chair Direct Loan Task Force |