Bulletin ID
DLB - 00 - 44
| PublicationDate: 8/1/2000 BulletinID: DLB - 00 - 44 August 2000 DLB 00-44 Subject: Up-Front Interest Rebate Letter to Borrowers Dear Partner: As we explained in Direct Loan Bulletin 00-42, all Direct Subsidized Loan, Direct Unsubsidized Loan, and Direct PLUS Loan borrowers will receive a new repayment incentive benefit--an up-front interest rebate--on their 2000-2001 program year loans. After the Loan Origination Center (LOC) receives the first actual disbursement record for a 2000-2001 program year loan, it will send a letter to the borrower informing him or her of the up-front interest rebate and how it will work. Beginning on September 5, 2000, the LOC will send letters to borrowers for whom first actual disbursement records have already been received. Then, the LOC will send letters on an on-going basis to other borrowers after it receives their first actual disbursement records. Attached are the two letters--one for students and one for parents--that the LOC will send. If we make changes to these letters, we will notify you through a Direct Loan Bulletin. Thank you for your ongoing partnership in the Direct Loan Program. Sincerely, Jane Holman Acting Director, Title IV Delivery Schools Channel Enclosure A Enclosure B |