Publication Date: May 25, 2001
United States Department of Education
Loan Processing Issuance Fee
Technical Update GA-2001-04
May 25, 2001
LPIF for the Second Quarter of Fiscal Year 2001
The U.S. Department of Education (ED) recalculated the Loan Processing and Issuance Fee (LPIF) for the second quarter of Fiscal Year 2001. The calculations done on May 16, 2001, were based on an erroneous base date of October 1, 1998, instead of October 1, 1999. Consequently, the LPIF figures were higher than they should have been, and your backup data for the quarter contained more data that was applicable to FY 2001 2nd Quarter. The base date has been corrected, and the LPIF was recalculated on May 26, 2001. In addition, the recalculation date includes the May submission for all guaranty agencies.
Therefore, we are asking that you ignore the backup detail tapes received as a result of the May 16, 2001, calculation for both the quarterly data file and the cumulative data file. New, revised backup LPIF tapes for the FY 2001 2nd Quarter and cumulative will be distributed the week of May 28, 2001. We regret any inconvenience this may have caused your agency.
If you have any questions, please contact Ron Bennett of the NSLDS Information Center at
(703) 560-5000 Ext. 3583 or e-mail at email@example.com