March 4, 2008
Dear Financial Aid Administrator:
I am following up on a letter from Secretary of Education Margaret Spellings to the head of your institution regarding recent uncertainty in the credit markets that has raised concerns regarding the continued availability of Federal Family Education Loan (FFEL) Program loans.
The U.S. Department of Education, along with other Federal agencies, is closely monitoring the situation and continues to evaluate broader market conditions and their potential to impact the availability of FFEL Program loans. We are unaware of any situation in which eligible students have been unable to obtain these loans. Currently, there are more than 2,000 lenders that originate loans in the FFEL Program.
I am writing to request your assistance with the Department’s efforts in monitoring the situation. If a lender notifies you or your students of its intent to reduce, suspend, or discontinue making FFEL Program loans to students at your institution for either the current or a future term, please e-mail us at [email protected] and include the name of the lender, any lender correspondence on the issue, and your contact information. You may also use this e-mail address to send us any comments or questions you have on the availability of FFEL Program loans.
I want to reassure you that federal financial aid - including grants, loans, and work-study - will continue to be available to eligible students attending your institution and to their families. We appreciate your assistance in our efforts to monitor the current student loan situation.
Sincerely,
Larry Warder
| File Type | application/msword |
| File Title | Dear Mr |
| File Modified | 2008-02-29 |
| File Created | 2008-02-29 |