Download:
pdf |
pdfLOAN PURCHASE PROGRAMS ELECTRONIC ANNOUNCEMENT #39
Date:
December 11, 2008
To:
FFEL Program Community
From:
James Manning, Acting Chief Operating Officer
Federal Student Aid
Subject:
Submission of “Bill of Sale” and Data Files for Loan Sales Under the 2007-2008
Short-Term Purchase Program
In previous Electronic Announcements (#36, #37, and #38) we provided information and
document submission instructions for the Department’s 2007-2008 Short-Term Purchase
Program. This announcement provides submission instructions for the “Bill of Sale” that must
be submitted by a loan holder wishing to sell 2007-2008 academic year loans to the Department.
It also provides specifications and submission requirements for the data files that must be
submitted to the Department’s servicer.
Thank you for your continued support of these FFEL Loan Purchase Programs.
Attachment
United States Department of Education
Federal Family Education Loan Program
Short-Term Loan Purchase Program
BILL OF SALE AND LOAN DETAIL FILE SUBMISSION
INSTRUCTIONS
DECEMBER 11, 2008
The information below explains how a lender that wishes to sell loans to the Department of
Education (the Department) under the Master Loan Sale Agreement 2007-2008 (2007-2008
MLSA) dated November 24, 2008 executes the Bill of Sale (Exhibit B), and if applicable, the
Security Release Certification (Exhibit E) and the Notice of Assignment and Designation of
Payee form. Electronic Announcements #36, #37, and #38 provide information about the Short
Term Purchase Program, including instructions for executing the Master Loan Sale Agreement
and for submitting an “Offer to Sell.” These Electronic Announcements, along with other
important information related to the Loan Purchase Programs, are available at
www.federalstudentaid.ed.gov/ffelp.
A Seller’s Bill of Sale package must include the first three items discussed below and may
include the other two.
The “Bill of Sale” (See Electronic Announcement #36, Exhibit B to the 2007-2008
MLSA) provides the terms of the loan sale. The Bill of Sale includes a certification by
the Seller as to whether there are any secured interests outstanding in the loans being
sold. If so, a “Security Release Certification”, as discussed below, must be submitted
along with the Bill of Sale. The Bill of Sale must be signed by an official of the Seller
and, if appropriate the Eligible Lender Trustee.
The “Final Loan Schedule Summary of Loans Sold” (See Electronic Announcement #36,
third page of Exhibit B of the 2007-2008 MLSA) summarizes data on the loans being
sold to the Department and supports the Bill of Sale. The “Total Final Purchase Price”
listed on the last line of the schedule cannot exceed the amount that the Department
agreed to spend to purchase the Seller’s loans for the particular week’s sale. And, as a
reminder, the average outstanding principal balance of all of the loans included in the sale
must be at least $3,000.
The “Detail Loan Schedule”, as referenced in the Bill of Sale, includes details on each
loan that the lender is selling to the Department. These data are summarized in the “Final
Loan Schedule Summary of Loans Sold.”
Bill of Sale and Loan Detail Submission Instructions
Page 2
By submitting, with the Bill of Sale the Schedule provided to the lender by the
Department’s designee (see below under “Submission Instructions”) for a specific Bill of
Sale, the lender (now the “Seller”) adopts that Schedule to identify the loans it is selling
under that Bill of Sale. Note that the Loan Schedule consists of two separate data files as
described below.
The “Security Release Certification” (See Electronic Announcement #36, Exhibit E to the
2007-2008 MLSA) must be submitted along with the Bill of Sale if any of the loans being
sold to the Department are subject to any security interest, pledge or encumbrance of any
kind. Attached to that Certification must be a Schedule of Loans to which the Security
Release will apply. That schedule may be a copy of the Loan Schedule submitted by the
Seller with the Bill of Sale. To ensure that all of the required documents are in place for
these loans and that there are no delays in the sale, Sellers must submit separate bills of
sale and supporting documentation for loans that have no security interest and those that
are subject to a security interest. If the Seller sells loans subject to more than one security
interest, the Seller must separate those loans by secured party, and submit a separate bill
of sale and supporting documentation for each group of loans subject to a particular
security interest.
A “Notice of Assignment and Designation of Payee” must be submitted by a Seller that
has assigned to a financing party the right to receive the proceeds of the sale. Submission
of this form informs the Department that the Seller has assigned to that party (the
Creditor), the right to receive direct payment from the Department. When completing the
Notice of Assignment and Designation of Payee, both the Seller and the Creditor are
providing the specific bank account to which the Department will send the funds. Also
note that “a true copy of the instrument of assignment” between the Seller and the
Creditor must accompany the Notice of Assignment and Designation of Payee.
If the Seller chooses not to assign its right to receive loan purchase funds to the party
holding a security interest in the loans, the Seller must nevertheless submit the Security
Release Certification executed by that party, as noted earlier, and then promptly provide
the Department with notification of its payment to that third party. Such notification
must be specific as to date, amount, and form of such payment.
All of the Bill of Sale documents are to be submitted as PDF attachments to an email sent to
[email protected]. The subject line of the email must say “2007-2008 Bill of Sale.” See
below for instructions for the submission of the Loan Transfer/Conversion File and the Borrower
Benefit File.
Loan Transfer/Conversion File and Borrower Benefit File
As noted on page 3 of Electronic Announcement #38, after the Department informs the Seller of
the amount of the Seller’s offer, the Seller must, no later than noon on the Monday preceding the
Purchase Date submit to the Department’s servicer loan conversion files. These consist of both a
“Loan Transfer/Conversion File”, and a “Borrower Benefit Data File” as described below.”
Bill of Sale and Loan Detail Submission Instructions
Page 3
Loan Transfer/Conversion File - The specifications and format for the Loan Transfer/Conversion
File are the same as is used in the Department’s 2008-2009 Loan Purchase Program (see
Electronic Announcement #27).
Borrower Benefit Data File – The file specifications for the Borrower Benefit File include both
borrower identification information and a code indicating the borrower benefit that has been
assigned to the loan. There are a number of things to note when preparing the Borrower Benefit
File –
A record may not be included on the Borrower Benefit File if the borrower is not
included on the Loan Transfer/Conversion File. This means that the following fields
must be the same on both files –
o Loan ID
o Borrower Last Name
o Borrower First Name
o Borrower SSN
A record on the Borrower Benefit File is not required if the loan on the Loan
Transfer/Conversion File does not include any acceptable borrower benefits.
In accordance with Exhibit F of the 2007-2008 MLSA, the only acceptable borrower
benefits are those that are currently supported by the Department’s servicer. Therefore,
when completing the “Plan Code” field on the Borrower Benefit File, the only acceptable
codes are those listed on the Borrower Benefit Listing.
For information on the submission of the Loan Transfer/Conversion File and Borrower Benefit
File please contact Leita Garcia at the Department’s servicer at 310-513-2966 or by email at
[email protected].
NOTICE OF ASSIGNMENT AND DESIGNATION OF PAYEE
______________________________________ (“the Seller”) provides
notice to the U.S. Department of Education (“the Department”) that the Seller has assigned to
_____________________________, as the “Creditor” the right to receive
any payments due the Seller, or to become due the Seller, from the Department pursuant to a
certain Bill of Sale executed by the Seller on __________
under the 2007-2008 Master Loan Sale Agreement (“the 2007-2008 MLSA”), dated November
24, 2008, and the related Adoption Agreement between the Seller, [the Eligible Lender Trustee]
and the Department dated as of ____. The
Seller and the Creditor intend this notice to meet any applicable requirements of the Assignment
of Claims Act of 1940, as amended, 31 U.S.C. 3727, 41 U.S.C. 15. A true copy of the
instrument of assignment executed by the Seller on ___________, is
attached to this notice.
The Seller and the Creditor further agree and notify the Department that payments due or to
become due pursuant to the Bill of Sale noted above should be made to the Creditor and remitted
to the following financial institution for deposit to the account listed here:
Name on Account: ___________________________________________________________
Account Number: ____________________________________________________________
Name of Financial Institution: _________________________________________________
Address of Financial Institution: ________________________________________________
ABA Number of Financial Institution: ___________________________________________
NOTICE OF ASSIGNMENT AND DESIGNATION OF PAYEE
Page 2 OF 2
Name of Seller: _________________________________________________________
Signed Name: __________________________________________________________________
Typed Name: ____________________________________________________________
Title: ________________________________________________________________________
Date: ________________________________________________________________________
Name of Creditor: ______________________________________________________________
Address: ______________________________________________________________________
______________________________________________________________________
Phone and E-Mail Contact:
______________________________________________________
Signed Name: __________________________________________________________________
Typed Name: __________________________________________________________________
Title: _________________________________________________________________________
Date: _________________________________________________________________________
Acknowledged by the United States Department of Education:
Borrower Benefit File Specifications – Short Term Purchase Program
To add borrower benefit data:
•
•
•
•
•
•
Lender prepares a flat file to accompany Loan Transfer/Conversion File with the data
detailed below
SSN and amount field should be right justified
Fill blank fields with “0”’s
Decimals should be 2 digits and reported per the following example, “$153.25 should be
shown as 000015325”
Text fields should be left justified and blanks left as spaces.
One record per loan.
Field
Length and Description
01 hdr-rec.
“group level” information
to indicate the type of
record. No other
information required for
this field.
05 hdr-rec-type
05 file-date
05 file-id
pic x(01) value "H".
pic 9(8) yyyymmdd
pic x(16) optional
Field
Length and Description
01 dtl-rec.
pic x(01) value "D".
05 loan-id
pic X(21)
05 disb date
05 disb amt
05 benefit code
Pic 9(8) yyyymmdd
Pic 9(10)
pic x(1) Subsidy Code;
subsidized = 4
unsubsidized = 8
pic x(30)
pic x(30)
pic x(1)
pic 9(9)
pic 9(4)
pic 9(8) – yyyymmdd
Date plan applied by client
05 on-time
payments
05 int status
Comments
“group level”
information to indicate
the type of record. No
other information
required for this field.
05 dtl-rec-type
05 borr-l-name
05 borr-f-name
05 borr-mi
05 borr-ssn
05 plan code
05 plan applied
date
Comments
pic 9(4) Number of on-time payments
made by the borrower toward
qualification for the incentive
pic 9(4) Interest Status Code
0 - no benefit
1 - eligible
2 - qualified
Must match loan ID field
in Loan Transfer/
Conversion File
Optional
Optional
Optional
Optional
See attached listing
Optional. If left blank,
conversion date will be
used
If applicable based on
the plan code
05 rebate amt
3 - receiving
4 – disqualified
pic 9(8) Interest Benefit Applied Date
pic 9(4) Rebate Status Code
0 - no benefit
1 - eligible
2 - qualified
3 - receiving
4 - disqualified
pic 9(8) - yyyymmdd Rebate Benefit
Applied Date
Pic 9(8)v99
05 disqual date
Pic 9(8) yyyymmdd
05 int applied
05 reb status
05 reb applied
Field
Length and Description
01 trl-rec
05 trl-rec-type
05 tot-rec-count
Client to also increase
Principal paid in the Loan
Transfer/Conversion File
by this amount
ACS to load as A07
comment *
Comments
“group level” information
to indicate the type of
record. No other
information required for
this field.
pic x(01) value "T".
pic 9(11)
ED Servicer Borrower Incentive Interest Rate Reduction Plans
DOE Plan Description
Ach
Number (to (If the DOE Plan Number field contains Interest
be included in multiple plan codes, include first DOE Rate
plan code in the series in Borrower
Borrower
Reduction
Incentive Layout)
Interest Reduction Trigger
Interest
Rate
Reduction
Qualifying
Months
9715 0.25% interest rate reduction 0.25%
for ACH
0.00%
0
Upon entering repayment
9716 1. 0.25% interest rate
reduction for ACH
2. 0.25% interest rate
reduction upon entering
repayment
0.25%
0.25%
0
Upon entering repayment
9717 1. 0.25% interest rate
reduction for ACH
2. 0.50% interest rate
reduction upon entering
repayment
0.25%
0.50%
0
Upon entering repayment
9718 1. 0.25% interest rate
reduction for ACH
2. 1.00% interest rate
reduction upon entering
repayment
0.25%
1.00%
0
Upon entering repayment
9719 1. 0.25% interest rate
reduction for ACH
2. 2.00% interest rate
reduction upon entering
repayment
0.25%
2.00%
0
Upon entering repayment
9720 2.00% interest rate reduction 0.00%
upon entering repayment
2.00%
0
At Grace End
Incentive
Layout file)
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 1 of 140
(Applies to Ontime payment
Plans)
Comment
9721 .50% interest rate reduction
upon entering repayment
0.00%
0.50%
0
Upon entering repayment
9722 1.00% interest rate reduction 0.00%
upon entering repayment
1.00%
0
At Grace End
9723 1.25% interest rate reduction 0.00%
upon entering repayment
1.25%
0
At Grace End
0.25%
2.31%
0
Upon entering repayment
9725 1. 0.25% interest rate reduction
0.25%
for ACH
2. 2.00% interest rate reduction
after making 48 on time payments.
2.00%
48
After 48 on time payments
9726 0.3% interest rate reduction for
ACH
0.30%
0.00%
0
Upon entering repayment
9727 0.7% interest rate reduction for
ACH
0.70%
0.00%
0
Upon entering repayment
9728 Immediate 1% interest rate
reduction once account enters
repayment.
0.00%
1.00%
0
Upon entering repayment
9724 1. 0.25% interest rate reduction
for ACH
2. 2.31% interest rate reduction
upon entering repayment.
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 2 of 140
9729 1. 0.25% interest rate reduction
0.25%
for ACH
2. 1% interest rate reduction after
12 on-time payments.
1.00%
12
After 12 on time payments
9730 0.25% interest rate reduction for
ACH
0.25%
0.00%
0
Upon entering repayment
9731 1. 0.25% interest rate reduction
for ACH
2. 0.75% interest rate reduction
after 12 on-time payments.
0.25%
0.75%
12
After 12 on time payments
9732 1. 0.25% interest rate reduction
for ACH
2. 1.0% interest rate reduction
after 24 on-time payments
0.25%
1.00%
24
After 24 on time payments
9733 1. 0.25% interest rate reduction
for ACH
2. 1.0% interest rate reduction
after 30 on-time payments
0.25%
1.00%
30
After 30 on time payments
9734 1. 0.25% interest rate reduction
for ACH
2. 1.0% interest rate reduction
after 48 on-time payments
0.25%
1.00%
48
After 48 on time payments
9735 1.5% interest rate reduction for
ACH
1.50%
0.00%
0
0
9736 1. 0.25% interest rate reduction
for ACH
2. 1.0% interest rate reduction
after 36 on-time payments
0.25%
1.00%
36
After 36 on time payments
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 3 of 140
9737 1% interest rate reduction after 36 0.00%
on-time payments,
1.00%
36
After 36 on time payments
9738 1. 0.25% interest rate reduction
for ACH
2. 2% interest rate after 36 ontime payments
0.25%
2.00%
36
After 36 on time payments
9739 1. 1.75% interest rate reduction
for ACH
2. Immediate 0.25% interest rate
reduction.
1.75%
0.25%
0
Upon entering repayment
9740 2% interest rate reduction after 48 0.00%
on-time payments.,
2.00%
48
After 48 on time payments
9741 1. 0.25% interest rate reduction
for ACH and
2. Immediate .75% interest rate
reduction once account enters
repayment.,
0.25%
0.75%
0
Upon entering repayment
9742 1. 0.25% interest rate reduction
for ACH and
2. Immediate 1.5% interest rate
reduction once account enters
repayment.,
0.25%
1.50%
0
Upon entering repayment
9743 Immediate 0.45% interest rate
reduction once account enters
repayment
0.00%
0.45%
0
Upon entering repayment
9744 Immediate 0.5% interest rate
0.00%
reduction once the account enters
repayment ,
0.50%
0
Upon entering repayment
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 4 of 140
9745 1. 0.5% interest rate reduction for 0.50%
ACH
2. Immediate 1% interest rate
reduction when account enters
repayment,
9746 1. 0.8% interest rate reduction for 0.80%
ACH
2. Immediate 1.20% interest rate
reduction once the account enters
repayment
1.00%
0
Upon entering repayment
1.20%
0
Upon entering repayment
9747 1. 0.5% interest rate reduction for 0.50%
ACH
2. Immediate 0.5% interest rate
reduction when account enters
repayment
0.50%
0
Upon entering repayment
9748 1. 1% interest rate reduction for
ACH
2. Immediate 0.5% interest rate
reduction when account enters
repayment
1.00%
0.50%
0
Upon entering repayment
9749 1. 1% interest rate reduction for
ACH (Bill Type A)
2. 0.75% interest rate reduction
immediately upon the loan being
fully disbursed.,
1.00%
0.75%
0
When fully disbursed
9750 1. 1.25% interest rate reduction
for ACH (Bill Type A)
2. Immediate 1% interest rate
reduction when account enters
repayment,
1.25%
1.00%
0
Upon entering repayment
9751 1. 0.25% interest rate reduction
for ACH
2. Immediate 1% interest rate
reduction when account enters
repayment,
0.25%
1.00%
0
At Grace End
9752 1. 0.25% interest rate reduction
for ACH
2. 2.25% interest rate reduction
after 48 on-time payments.
0.25%
2.25%
48
After 48 on time payments
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 5 of 140
Upon making 12 on time payments,
borrower will progress to plan 483 and
receive a 2% interest rate
reduction.
9753 1. 0.25% interest rate reduction
for ACH
2. 0.25% interest rate reduction
after 36 on-time payments
9754 1. 0.25% interest rate reduction
for ACH
2. 0.50% interest rate reduction
after 36 on-time payments
0.25%
0.25%
36
After 36 on time payments
0.00%
0.50%
36
After 36 on time payments
9755 0.25% interest rate reduction for
ACH
0.25%
0.00%
0
Upon entering repayment
9756 1. 1.0% IRR for ACH
2. 1.0% IRR after 1 on time
payment
1.00%
1.00%
1
After 1 on time payment
9757 0.25% Interest rate reduction after 0.00%
1 on time payment
9758 1. 0.25% interest rate reduction
0.25%
for ACH
2. 0.8% interest rate reduction
after 12 on-time payments.
0.25%
1
After 1 on time payment
0.80%
12
After 12 on time payments
9759 1. 0.25% interest rate reduction
0.25%
for ACH
2. .5% interest rate reduction after
12 on-time payments.
0.50%
12
After 12 on time payments
9760 0.5% interest rate reduction for
ACH
0.50%
0.00%
0
0
9761 1. 0.25% interest rate reduction
for ACH
2. 0.75% interest rate reduction
after 24 on-time pmts
0.25%
0.75%
24
After 24 on time payments
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 6 of 140
9762 1. 0.25% interest rate reduction
for ACH
2. 1% interest rate reduction on
first disbursement date
0.25%
1.00%
0
At first disbursement
9763 1. 0.50% interest rate reduction
for ACH
2. 1% interest rate reduction on
first disbursement date
0.50%
1.00%
0
At first disbursement
9764 1. 0.25% interest rate reduction
0.25%
for ACH
2. 0.75% interest rate reduction on
first disbursement
0.75%
0
At first disbursement
0.25%
1.00%
0
At Grace End
9766 1. 0.25% interest rate reduction
0.25%
for ACH
2. 2% interest rate reduction after
42 on-time payments.
2.00%
42
After 42 on time payments
9767 1. 0.25% interest rate reduction
0.25%
for ACH
2. 1% interest rate reduction after
42 on-time payments.
1.00%
42
After 42 on time payments
9768 1. 1.5% interest rate reduction for 1.50%
ACH
2. 1% interest rate reduction after
36 on-time payments.
1.00%
36
After 36 on time payments
9769 1. 1.5% interest rate reduction for 1.50%
ACH
2. 2% interest rate reduction after
36 on-time payments.
2.00%
36
After 36 on time payments
9765 1. 0.25% interest rate reduction
for ACH
2. 1% immediate interest rate
reduction at Grace End
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 7 of 140
9770 2% interest rate reduction for ACH 2.00%
0.00%
0
Immediate
9771 1. 1.75% interest rate reduction for 1.75%
ACH (Bill Type A),
2. 0.25% interest rate reduction
after 1st on-time payment
0.25%
1
After 1st on time payment
9772 2.5% interest rate reduction for
ACH (Bill Type A),
2.50%
0.00%
0
Immediate
9773 0.5% interest rate reduction once
account enters repayment.,
0.00%
0.50%
0
Upon entering repayment
9774 0.25% interest rate reduction
immediately upon entering
repayment.
0.00%
0.25%
0
Upon entering repayment
9775 1. 0.25% interest rate reduction
immediately upon entering
repayment.
2. Additional 0.25% interest rate
reduction for ACH
0.25%
0.25%
0
Upon entering repayment
9776 1. 0.25% interest rate reduction
for ACH
2. 0.75% interest rate reduction
after 48 on-time payments.
0.25%
0.75%
48
After 48 on time payments
9777 1. 0.25% interest rate reduction
for ACH
2. 0.6% interest rate reduction
after 48 on-time payments.
0.25%
0.60%
48
After 48 on time payments
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 8 of 140
9778 1. 0.25% interest rate reduction
for ACH
2. 0.5% interest rate reduction
after 48 on-time payments.
0.25%
0.50%
48
After 48 on time payments
9779 1. 0.25% interest rate reduction
for ACH
2. 0.75% interest rate reduction
after 36 on-time payments.
0.25%
0.75%
36
After 36 on time payments
9780 1. 1.25% interest rate reduction
for ACH
2. 0.75% interest rate reduction
immediately at Grace End,
1.25%
0.75%
0
At grace end
9781 1. 2% interest rate reduction for
ACH
2. 0.25% immediate interest rate
reduction at Grace End
2.00%
0.25%
0
At grace end
9782 1. 0.50% interest rate reduction
0.50%
for ACH
2. 1% interest rate reduction after
24 on-time payments.
1.00%
24
After 24 on time payments
9783 1. 0.5% interest rate reduction for 0.50%
ACH
2. 1.25% interest rate reduction
after 24 on-time payments.,
1.25%
24
After 24 on time payments
9784 1. 2% interest rate reduction after 0.25%
36 on-time payments.
2. 0.25% interest rate reduction
for ACH
2.00%
36
After 36 on time payments
9785 2% interest rate reduction for ACH 2.00%
0.00%
0
Immediate
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 9 of 140
June 2007, minimum amt reduced from
$150,000 to $50,000 per the client's
request.
9786 1. Immediate 0.75% interest rate 0.50%
reduction,
2. 0.5% interest rate reduction for
ACH
0.75%
0
Upon entering repayment
9787 0.50% interest rate reduction for
ACH
0.50%
0.00%
0
Upon entering repayment
9788 1. 0.25% interest rate reduction
for ACH
2. 0.5% interest rate reduction
immediately upon entering
repayment,
0.25%
0.50%
0
Upon entering repayment
9789 1. 0.25% interest rate reduction
for ACH
2. 1.1% interest rate reduction
immediately upon entering
repayment,
0.25%
1.10%
0
Upon entering repayment
9790 1. 1.1% interest rate reduction
immediately upon entering
repayment,
2. 0.5% interest rate reduction
for ACH (Bill Type A)
0.50%
1.10%
0
Upon entering repayment
9791 1. 0.25% interest rate reduction
for ACH
2. 1.0% interest rate reduction
after 36 on-time payments
0.25%
1.00%
36
After 36 on time payments
9792 1. 0.25% interest rate reduction
0.25%
for ACH
2. 1% interest rate reduction after
60 on-time payments.
1.00%
60
After 60 on time payments
0.25%
0.75%
60
After 60 on time payments
9793 1. 0.25% interest rate reduction
for ACH
2. 0.75% interest rate reduction
after 60 on-time payments.
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 10 of 140
9794 1. 0.25% interest rate reduction
for ACH
2. 0.5% interest rate reduction
after 60 on-time payments.
0.25%
0.50%
60
After 60 on time payments
9795 1. 0.25% interest rate reduction
for ACH
2. 0.25% interest rate reduction
after 60 on-time payments.
0.25%
0.25%
60
After 60 on time payments
9796 1% interest rate reduction after 60 0.25%
on-time payments
1.00%
60
After 60 on time payments
9797 0.75% interest rate reduction after 0.25%
60 on-time payments
0.75%
60
After 60 on time payments
9798 0.25% interest rate reduction after 0.25%
60 on-time payments
0.25%
60
After 60 on time payments
0.25%
0.25%
0
Upon entering repayment
9800 1. 0.5% interest rate reduction
0.50%
immediately upon entering
repayment.
2. 0.5% interest rate reduction for
ACH
0.50%
0
Upon entering repayment
1.50%
1.00%
36
After 36 on time payments
9799 1. 0.25% interest rate reduction
for ACH
2. Immediate 0.25% interest rate
reduction
9801 1. 1.50% interest rate reduction
for ACH
2. 1.0% interest rate reduction
after 36 on-time payments
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 11 of 140
9802 1. 1.5% interest rate reduction for 1.50%
ACH
2. 2% interest rate reduction after
36 on-time payments
9803 1. 1.5% interest rate reduction for 1.50%
ACH
2. 1% interest rate reduction after
36 on-time payments
2.00%
36
After 36 on time payments
1.00%
36
After 36 on time payments
9804 1. 0.5% interest rate reduction for 0.50%
ACH
2. 1.25% interest rate reduction
after 24 on-time payments
1.25%
24
After 24 on time payments
0.25%
1.00%
36
After 36 on time payments
9806 1. 0.25% interest rate reduction
0.25%
for ACH
2. Offers a .5% reduction after 48
on-time payments.
0.50%
48
After 48 on time payments
0.25%
1.25%
36
After 36 on time payments
9808 1. .25% interest rate reduction for 0.25%
ACH
2. .75% interest rate reduction
after 12 on-time payments
0.75%
12
After 12 on time payments
0.00%
0.50%
0
Upon entering repayment
9805 1. 0.25% interest rate reduction
for ACH
2. 1% for 36 on-time payments
9807 1. 0.25% interest rate reduction
for ACH
2. 1.25% interest rate reduction
after 36 on-time payments
9809 0.5% interest rate reduction at
repayment start date,
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 12 of 140
9810 1. 0.25% interest rate reduction
0.25%
for ACH
2. 1% interest rate reduction after
1 on-time payment
1.00%
1
After 1 on time payment
9811 1. 1% interest rate reduction after 0.50%
36 on-time payments.,
2. .50 reduction for ACH
1.00%
36
After 36 on time payments
0.25%
1.00%
0
Upon entering repayment
9813 1. 0.5% interest rate reduction for 0.50%
ACH
2. 1% interest rate reduction after
12 on-time payments.
1.00%
12
After 12 on time payments
0.25%
1.00%
0
Upon entering repayment
9815 1. Immediate 0.25% interest rate 0.25%
reduction at repayment
2. 0.25% interest rate reduction
for ACH
Disqualified
after 2 delinquencies
9816 1. 0.25% ACH interest rate
0.25%
reduction
2. 0.25% Interest Rate Reduction
at Grace End
0.00%
0
Upon entering repayment
0.25%
0
At Grace End
9817 1. 0.50% interest rate reduction
0.50%
for ACH (Bill Type A),
2. 1% interest rate reduction after
36 on-time payments
1.00%
36
3
9812 1. 0.25% interest rate reduction
for ACH
2. Immediate 1% interest rate
reduction upon repayment
9814 1. 0.25% interest rate reduction
for ACH
2. Immediate 1% interest rate
reduction.,
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 13 of 140
9818 1. 0.25% interest rate reduction
0.25%
for ACH
2. Immediate 4% interest rate
reduction for the first 12 months of
repayment ONLY. Option to
release the co-signer from the loan
obligation after the 48th on-time
payment.
9819 1. 0.25% interest rate reduction
0.25%
for ACH
2. Immediate 1% interest rate
reduction at Grace End
4.00%
0
At Grace End
1.00%
0
At Grace End
9820 1. 0.25% interest rate reduction
0.25%
for ACH (Bill Type A)
2. 2% interest rate reduction after
36 ACH payments.
9821 1.25% ACH interest rate reduction 1.25%
if account is on ACH by the 5th
month of repayment.
2.00%
36
After 36 on time payments
0.00%
0
0
9822 1. 0.25% interest rate reduction
for ACH
2. Immediate 0.75% interest rate
reduction at Grace End,
0.25%
0.75%
0
At Grace End
9823 1. 0.25% interest rate reduction
for ACH
2. 0.5% interest rate reduction
after 48 on-time payments.
0.25%
0.50%
48
After 48 on time payments
9824 1. 0.25% interest rate reduction
for ACH
2. Co-borrower release option
after 48 on-time payments
0.25%
0.00%
48
After 48 on time payments
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 14 of 140
The interest rate reduction is temporary
only for the first 12 months of
repayment.
Borrower must sign up for ACH within
first 120 days of repaymentto be eligible
for ACH interest rate reduction offered
on plan
4591.
Upon making 48 on time payments,
borrower will be sent letter informing
them of their eligibility to apply for
the co-borrower release
option.
0.50%
0.50%
12
3
9826 1% interest rate reduction for ACH 1.00%
0.00%
0
0
9827 0.5% interest rate reduction at
Grace End,
9828 1% interest rate reduction at Grace
End,
9829 1.5% interest rate reduction at
Grace End,
9830 2% interest rate reduction at Grace
End,
9831 2.5% interest rate reduction at
Grace End,
9832 3% interest rate reduction at Grace
End,
9833 3.5% interest rate reduction at
Grace End,
9834 1. 0.25% interest rate reduction
for ACH
2. Offers 2% interest rate
reduction after 24 on-time
payments.,
0.00%
0.50%
0
At Grace End
0.00%
1.00%
0
At Grace End
0.00%
1.50%
0
At Grace End
0.00%
2.00%
0
At Grace End
0.00%
2.50%
0
At Grace End
0.00%
3.00%
0
At Grace End
0.00%
3.50%
0
At Grace End
0.25%
2.00%
24
After 24 on time payments
9835 1. 0.25% interest rate reduction
for ACH
2. Offers 2% interest rate
reduction after 36 on-time
payments.,
0.25%
2.00%
36
After 36 on time payments
9836 1. 0.25% interest rate reduction
for ACH
2. Offers 1% interest rate
reduction after 20 on-time
payments.,
0.25%
1.00%
20
After 20 on time payments
9837 3% interest rate reduction for ACH 3.00%
0.00%
0
Upon entering repayment
0.25%
0.00%
0
See comment
9825 1. .5% interest rate reduction for
ACH
2. Offers a .5% interest rate
reduction after 12 on-time
payments.,
9838 0.25% interest rate reduction for
ACH
Option to release the co-signer
from the loan obligation after the
48th on-time payment.
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 15 of 140
Upon making 48 on time payments, the
borrower is entitled to a co-signer
release benefit.
9839 1. 0.25% interest rate reduction
0.25%
for ACH
2. 1% interest rate reduction after
24 on-time payments.
1.00%
24
After 24 on time payments
9840 1. 0.25% interest rate reduction
0.25%
for ACH
2. 2% interest rate reduction after
24 on-time payments.
2.00%
24
After 24 on time payments
9841 1. 0.25% interest rate reduction
for ACH
2. 2% interest rate reduction at
Grace End
0.25%
2.00%
0
At Grace End
9842 1. 0.25% interest rate reduction
for ACH
2. 1.5% interest rate reduction
after 48 on time payments
0.25%
1.50%
48
After 48 on time payments
0.25%
1.93%
0
Upon entering repayment
9843-9845 Progressive Plan:
1. 0.25% interest rate
reduction for ACH Receives
an immediate 1.93% int rate
reduction. (9843)
2. After 36 months receive
int rate reduction of 2.93%
(9844)
3. If borrower becomes
delinquent, disbursement will
receive the original 1.93%
rate reduction for the life of
the loan (9845)
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 16 of 140
9846-9849 Progressive Plan :
0.25%
1. 0.25% interest rate
reduction for ACH and int
rate reduction of 1.93% upon
entering repayment. (9846)
2. After 6 months they
receive an int rate reduction
of 2.035%. (9847)
3. After 30 months receive
int rate reduction of
3.305%.(9848)
4. If borrower becomes more
than 15 days delinquent, they
will be retain a 2.305%
interest rate reduction for the
life of their loan. (9849)
1.93%/
2.035%/
3.305%/
2.305%
0
Upon entering repayment
9850/9851 Progressive Plan
0.25%
1. 0.25% interest rate reduction
for ACH
2. 1% interest rate reduction after
24 on-time payments (9850)
3. 2% interest rate reduction after
36 on-time payments (9851)
1.00% /
2.00%
24
After 24 on time payments
9852-9855 Progressive Plan
0.75%
1. 0.75% ACH Interest rate
reduction
2. 0.25% interest rate reduction
immediately once fully disbursed
(9852)
3. 1.0% interest rate reduction
with the first billing cycle after
grace end. (9853)
4.
1.5% OLA Rebate upon 18 on-time
payments. (9854)
5. If borrower becomes 6 days
delinquent, they regress to .25%
rate reduction and will retain for life
of loan. (9855)
0.25%/
0
1.00%/ .25%
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 17 of 140
Upon making a total of 36 on time
payments, borrower will
progress to
next tier and receive a 2%
IRR.
1. Immediate
Borrower receives 0.25% IRR once fully
2. Once fully disbursed
disbursed. Progresses to next tier with
3. First billing cycle after grace first billing cycle after Grace End and
end
will get a 1% Interest rate
reduction.
9856/9857 Progressive Plan
0.50%
1. 0.5% interest rate reduction for
ACH (offered on both tiers),
2. 0.75% interest rate reduction
immediately at Grace End. (9856)
3. If borrower becomes more than
15 days delinquent, regress to
0.25% interest rate reduction for
remainder of loan. (9857)
0.75%
9858-9860 Progressive Plan
0.50%
1. Immediate 0.5% interest rate
reduction for ACH (Bill Type A),
2. Immediate 0.5% reduction.
(9858)
3.
2% reduction after 48th
consecutive on-time payment (plan
9859)
4. Upon delinquency, borrower
regresses to a 0.5% interest rate
reduction. (9860)
9861-9864 Progressive Plan:
0.25%
0.25% interest rate reduction for
ACH (Bill Type A)
1)
Plan 9861 for qualification
purposes only.
2)
Plan 9862 0.5% interest rate
reduction after 1 on time payment.
3) Upon 1st delinquency, go to
Plan 9863 for opportunity to
reinstate benefit. Must make 24
on time payments to regain benefit.
4) Plan 9864: Reinstatement of
0.5% interest rate reduction.
0.5% - 2.0% 48
After 48 on time payments
0.50%
1
After making first payment on
time
0.25% up to
2.00%
0
Upon entering repayment
9865/9866 Progressive Plan
0.25%
1. 0.25% interest rate reduction
for ACH
2. Maximum 2% on-time interest
rate reduction, in 2 steps:
Immediate 0.25% reduction (9865)
and 2% reduction after 48th
consecutive on-time payment
(9866)
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 18 of 140
0
At grace end
9867/9868 Progressive Plan
0.25%
1. 0.25% interest rate reduction
for ACH
2. 1% reduction after 36th
consecutive on-time payments
(9867)
3.
2% reduction after 48th
consecutive on-time payments.
(9868)
9869-9871 Progressive Plan
0.25%
1. 0.25% interest rate reduction
for ACH
2.
Maximum 1.375% on-time interest
rate reduction, in 2 steps: 0.375%
reduction after 6th consecutive ontime payment (9869) and 1.375%
reduction after 36th consecutive ontime payment (9870) Upon
delinquency, borrower regresses to
the 0.375% interest rate reduction
for remaining term.(9871)
1.00% up to
2.00%
36
After 36 on time payments
0.375%/
1.375%
6
After 6 on time payments
9872-9875 Progressive Plan
0.25%
1. 0.25% interest rate reduction
for ACH
2. 0.6% interest rate reduction at
first disbursement (9872) Borrower
will progress to 9873 at Grace End
and retain 0.6% reduction.
3. 1% interest rate reduction after
36 on-time payments.(9874)
4. Upon delinquency, borrower
regresses to plan 9875 and
receives the initial 0.6% interest
rate reduction for remaining term.
Borrower will ALWAYS have at
least a 0.6% interest rate
reduction, regardless of
delinquency
0.60%
0
At separation
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 19 of 140
9876/9877 Progressive Plan
0.50%
1. 0.5% interest rate reduction for
ACH (Bill Type A),
2. Maximum 2% on-time interest
rate reduction, in 2
steps:Immediate 0.5% reduction
(9876) and 2% reduction after 48th
consecutive on-time payment (plan
9877).
9878-9880 Progressive Plan:
0.50%
1. 0.5% interest rate reduction for
ACH.
2. 0.5% immediate interest rate
reduction at grace end. (9878)
3. 2% interest rate reduction after
48 on-time payments. (9879)
4. After reaching 9952, upon
delinquency, borrower regresses to
plan 9880 for remaining term. 3925
offers a 0.5% interest rate
reduction.
0.5% - 2.0% 48
After 48 on time payments
0.5%/ 2.0%
48
At grace end/ After 48 on time
payments
9881-9884 Progressive Plan
0.50%
1. 0.5% interest rate reduction for
ACH
2. 0.25% at beginning of
repayment. (9881)
3.
Progress to plan 9882 after 1 ontime payment and retains 0.25% If
delinquent while on plan 9882,
account will regress to alternate
plan 9883 but retain the 0.25%
interest rate reduction.
4. 0.75% after 24 on time
payments, 1.25% after 36 on time
payments. 1.75% after 48 on time
payments (9884)
0.25% 1.75%
1
Upon entering repayment
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 20 of 140
9885-9887 Progressive Plan:
0.25%
1. 0.25% interest rate reduction
for ACH
2. Immediate 3% interest rate
reduction for the first 12 months of
repayment ONLY. (9885)
3)
Option to release the co-signer
from the loan obligation after the
48th on-time payment. (9886)
while accruing the 48 on-time
payments)
4. Co-signer is released. (9887)
9888/9889 Progressive Plan
0.25%
1. 0.25% interest rate reduction
for ACH
2. 0.5% interest rate reduction at
Grace End (9888)
3. 1.25% interest rate reduction
after 12 on-time payments (9889)
3.00%
0
At Grace End
0.5%/ 1.25% 12
At Grace End
9901-9903 Progressive Plan
0.00%
1. 0.5% interest rate reduction at
Grace End (Plan 9901),
2. 1% interest rate reduction after
24 on-time payments (9902)
3. Upon 3 days delinquency,
regress to 0.5% interest rate
reduction. (9903)
0.5%/ 1.0%
24
At grace End and After 24 on
time payments
9904-9906 Progressive Plan:
0.00%
1. 1% interest rate reduction at
Grace End (9904)
2. 2% interest rate reduction after
24 on-time payments. (9905)
3. Upon 3 days delinquency,
regress to 1% interest rate
reduction. (9906)
1.0%/ 2.0%
24
At grace End and After 24 on
time payments
0.00%
1.5%/ 2.5%
24
At grace End and After 24 on
time payments
9907-9909 Progressive Plan
1. 1.5% interest rate reduction at
Grace End (9907)
2. 2.5% interest rate reduction
after 24 on-time payments (9908)
3. Upon 3 days delinquency,
regress to 1.5% interest rate
reduction. (9909)
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 21 of 140
The interest rate reduction is temporary
only for the first 12 months of
payment.
9910-9912 Progressive Plan
0.00%
1. 2% interest rate reduction at
Grace End (9910)
2. 3% interest rate reduction after
24 on-time payments. (9911)
3. Upon 3 days delinquency,
regress to 2% interest rate
reduction. (9912)
2.0%/ 3.0%
24
At grace End and After 24 on
time payments
9913-9915 Progressive Plan
0.00%
1. 2.5% interest rate reduction at
Grace End. (9913)
2. 3.5% interest rate reduction
after 24 on-time payments. (9914)
3. Upon 3 days delinquency,
regress to 2.5% interest rate
reduction. (9915)
2.5%/ 3.5%
24
At grace End and After 24 on
time payments
9916-9918 Progressive Plan
0.25%
1. 0.25% ACH interest rate
reduction
2. 0.125% interest rate reduction
at Grace End. (9916)
3. 1.125% interest rate reduction
after 24 on-time payments. (9917)
4. Upon 3 days delinquency,
regress to 0.125% interest rate
reduction. (9918)
0.125%/
1.125%
0
At Grace End
9919-9921 Progressive Plan
0.25%
1. 0.25% ACH interest rate
reduction,
2. 0.25% interest rate reduction at
Grace End. (9919)
3. 1.25% interest rate reduction
after 24 on-time payments. (9920)
4. Upon 3 days delinquency,
regress to 0.25% interest rate
reduction. (9921)
0.25%/
1.25%
24
At Grace End
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 22 of 140
This is a Client Assigned
Plan.
9923-9925 Progressive Plan
0.25%
1. 0.25% ACH interest rate
reduction
2. 0.375% interest rate reduction
at Grace End. (9923)
3. 1.375% interest rate reduction
after 24 on-time payments. (9924)
4. Upon 3 days delinquency,
regress to 0.375% interest rate
reduction. (9925)
0.375%/
1.275%
0
At Grace End
9926-9928 Progressive Plan
0.25%
1. 0.25% ACH interest rate
reduction
2. 0.5% interest rate reduction at
Grace End. (9926)
3. 1.5% interest rate reduction
after 24 on-time payments. (9927)
4. Upon 3 days delinquency,
regress to 0.5% interest rate
reduction. (9928)
0.50/ 1.5%
0
At Grace End
9929-9931 Progressive Plan
0.00%
1. 3% interest rate reduction at
Grace End. (9929)
2. 4% interest rate reduction after
24 on-time payments. (9930)
3. Upon 14 days delinquency,
regress to 3% interest rate
reduction. (9931)
3.0%/ 4.0%
24
At Grace End
9932-9934 Progressive Plan
0.00%
1. 3.5% interest rate reduction at
Grace End (9932)
2. 4.5% interest rate reduction
after 24 on-time payments. (9933)
3. Upon 14 days delinquency,
regress to 3.5% interest rate
reduction. (9934)
3.50%/
4.50%
0
At Grace End
9935/9936 Progressive Plan
0.25%
1. 0.25% interest rate reduction
for ACH
2. 1% interest rate reduction after
24 on-time pmts. (9935)
3. 2% interest rate reduction after
48 on-time pmts. (9936)
1.0%/ 2.0%
24, 48
After on time payments
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 23 of 140
0.25%
0.00%
0
See comment
9940/9941 Progressive Plan
0.25%
1. 0.25% interest rate reduction
for ACH
2. 0.5% interest rate reduction at
Separation Date (9940)
3. 1% interest rate reduction after
36 on time payments (9941)
0.5% /
1.00%
0
At separation
9937-9939 Plan 9937: 0.25%ACH reduction
for the first 47 months.
Plan 9938: 2 % Interest rate
reduction upon 48 months of ontime payments.
Plan 9939: Last 6 months of
payment forgiveness.
0.25%
9942-9944
Progressive Plan
1. 0.25% interest rate reduction
for ACH
2. Immediate 0.5% reduction.
(9942)
3. 1.5% reduction after 36th
consecutive on-time payment
(9943)
4) Upon delinquency, borrower
regresses to a 0.5% interest rate
reduction. (9944)
.50%/ 1.5%/ 0
.50%
ED Servicer Borrower Incentive Interest Rate Reduction Plans
Page 24 of 140
Upon entering repayment
Upon making 47 on time payments,
letter will be sent to borrower offering
choice between 2% IRR or have the last
6 mths of payments waived. If no choice
is made, borrower receives the 2% IRR
by default.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R1
Qualifying
Criteria
9002
9003
9004
9005
9006-9013
Other Incentive
Information
0.25% interest rate
reduction for ACH
Once reduction is effective
payment term will be
shortened.
Progressive Plan –
maximum 4.5% PBO
rebate in 5 steps:
If the borrower becomes
17 days delinquent, they
will retain whatever
rebates they have already
received but become
ineligible for any
remaining benefits.
9001-9005
9001
R2
Plan Information
Comments
Initial 0.25% rebate after
first on time payment
(plan 9001)
Additional 0.5% rebate
First Disbursement Borrower will become
disqualified upon 1 NSF
after 12th on-time payment Date = 1/1/06
through 9/30/07.
occurrence.
(plan 9002)
Additional 0.75% rebate
after 24th on-time payment
(plan 9003)
Additional 1% rebate after
36th on-time payment
(plan 9004)
Additional 2% rebate after
48th on-time payment
(plan 9005)
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 25 of 140
Qualifying
Criteria
Other Incentive
Information
Once reduction is effective
payment term will be
shortened.
Comments
Upon delinquency, borrower
will regress to plan 5415 and
be given another chance to
regain the on time interest
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
1% Interest rate reduction
after first on time
payment.
If the borrower becomes
17 days delinquent, they
will retain whatever
rebates they have already
received but become
ineligible for any
remaining rebates (see
Comments).
Progressive Plan – max
4.5% PBO rebate in 5
steps:
Borrower will become
disqualified upon 1 NSF
occurrence.
5409 for qualification only. First Disbursement
Date = 3/1/07
through 9/30/07.
9006
Initial 0.25% rebate after
first on time payment
9007
9008
Other Incentive
Information
Additional 0.5% rebate
after 12th on-time
payment
Additional 0.75% rebate
after 24th on-time payment
9009
Additional 1% rebate after
36th on-time payment
9010
Additional 2% rebate after
48th on-time payment
9011
ED Servicer Borrower Incentive Plans with Rebates
Page 26 of 140
Comments
g
rate reduction only. Once on
plan 5415, if borrower
makes another 12 payments
on time, they will progress to
plan 5416 and regain their
1% rate reduction. If they
become delinquent while on
5416, they will not be given
another chance.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9012
9013
R3
9014-9021
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Qualifying
Criteria
Other Incentive
Information
Once reduction is effective
payment term will be
shortened.
Comments
Upon delinquency,
borrower will regress to
plan 9012 and be given
another chance to regain
the on time interest rate
reduction only. Once on
plan 9012, if borrower
makes another 12
payments on time, they
will progress to plan 9013
and regain their 1% rate
reduction.
1% Interest rate reduction
after requirements are
made on 9012.
Plan Information
0.25% interest rate
reduction for ACH
0.5% Interest rate
reduction after first on
time payment.
9014
Progressive Plan – max
4.5% PBO rebate in 5
steps:
9014 for qualification only.
ED Servicer Borrower Incentive Plans with Rebates
Page 27 of 140
Upon delinquency, borrower
will regress to plan 5425 and
be given another chance to
regain the on time interest
If the borrower becomes
rate reduction only. Once on
17 days delinquent, they
plan 5425, if borrower
will retain whatever
makes another 12 payments
rebates they have already on time, they will progress to
received but become
plan 5426 and regain their
ineligible for any
0.5% rate reduction. If they
remaining rebates.
become delinquent while on
5426, they will not be given
another chance.
Borrower will become
disqualified upon 1 NSF
occurrence.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9015
Plan Information
Initial 0.25% rebate after
first on time payment
(plan 9015)
Additional 0.5% rebate
after 12th on-time
payment (plan 9016)
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
Comments
First Disbursement
Date = 3/1/07
through 9/30/07.
9016
9017
9018
9019
9020
9021
Additional 0.75% rebate
after 24th on-time
payment (plan 9017)
Additional 1% rebate after
36th on-time payment
(plan 9018)
Additional 2% rebate after
48th on-time payment
(plan 9019)
Upon delinquency,
borrower will regress to
plan 9020 and be given
another chance to regain
the on time interest rate
reduction only. Once on
plan 9020, if borrower
makes another 12
payments on time, they
will progress to plan 9021
and regain their 0.5% rate
reduction.
.05% rebate if borrower
meets criteria on plan
9020. If they become
delinquent while on 9021,
they will not be given
another chance.
Plan Information
9022
R4 Borrower Incentive
ED Servicer
Plans with Rebates
Page 28 of 140
Qualifying
Criteria
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Once reduction is effective
payment term will be
shortened.
0.25% interest rate
reduction for ACH
0.5% OLA Rebate after 3
on time payments.
First disbursement
date between
7/16/07 and
6/12/08.
If the borrower
becomes 6 days
past due at any
time, they will be
disqualified.
R5
9023/9024
Plan Information
Qualifying
Criteria
2% OLA Rebate after the
24th on time payment
9023
9024
Additional 1% OLA Rebate
after the 48th on time
payment
First Disbursement
Date = 7/1/06 or
later
ED Servicer Borrower Incentive Plans with Rebates
Page 29 of 140
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower
becomes 7 days
delinquent during
the qualifying
period, they will be
disqualified.
R6
9025/9026
Plan Information
Qualifying
Criteria
1% OLA Rebate after the
12th on time payment
9025
9026
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
Additional 1.5% OLA
Rebate after the 36th on
time payment
First Disbursement
Date = 7/1/06 or
later
If the borrower
becomes 7 days
delinquent during
the qualifying
period, they will be
disqualified.
R7
9027
Plan Information
0.7% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 30 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
1% OLA Rebate after 12
on time payments
Other Incentive
Information
Comments
ACH rate reduction will be
permanently disqualified
upon 1 NSF
First disbursement
date = 2/1/08 or
later
If the borrower
becomes 15 days
delinquent during
the qualifying
period, they will be
disqualified.
R8
9028
Plan Information
Qualifying
Criteria
0.7% interest rate
reduction for ACH
1% OLA Rebate after 12
on time payments
ACH rate reduction will be
permanently disqualified
upon 1 NSF
First disbursement
date = 2/1/08 or
later
ED Servicer Borrower Incentive Plans with Rebates
Page 31 of 140
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower
becomes 15 days
delinquent during
the qualifying
period, they will be
disqualified.
R9
9029
Plan Information
Qualifying
Criteria
0.7% interest rate
reduction for ACH )
1% OLA Rebate after 12
on time payments
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ACH rate reduction will be
permanently disqualified
upon 1 NSF
First disbursement
date = 2/1/08 or
later
If the borrower
becomes 15 days
delinquent during
the qualifying
period, they will be
disqualified.
R10
9030
Plan Information
ED Servicer Borrower Incentive Plans with Rebates
Page 32 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
0.25% interest rate
reduction for ACH
Once reduction is effective,
the repayment term will be
shortened.
1% interest rate reduction
after 12 on time payments
Account can receive both
on-time and ACH
reductions simultaneously
Comments
1% PBO Rebate after 24
on time payments
First Disbursement
Date = 9/10/07 or
before
If the borrower
becomes 17 days
delinquent, they
will be disqualified.
R11
9031
Plan Information
Qualifying
Criteria
1% OLA rebate on
Separation Date.
Loans must have a
note date between
08/01/03 and
6/30/05.
ED Servicer Borrower Incentive Plans with Rebates
Page 33 of 140
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R12
9032
Plan Information
Qualifying
Criteria
Other Incentive
Information
Plan Information
Qualifying
Criteria
Other Incentive
Comments
Information
Once the reduction is
effective the payment term
will be shortened.
Qualifying
Criteria
Other Incentive
Comments
Information
Once the reduction is
effective the payment term
will be shortened.
Qualifying
Criteria
Other Incentive
Comments
Information
If the borrower becomes
15 days delinquent during
the 48-month qualifying
period, they will lose their
eligibility for the 2%
reduction. However, once
the reduction is applied to
the account, it will never
be removed, regardless of
delinquency.
1% OLA rebate at
Separation Date
Comments
2.5% interest rate
reduction for ACH
R13
9033
Plan Information
1% OLA rebate at
Separation Date
2.5% interest rate
reduction for ACH
R14
9034/9035
Plan Information
1% OLA rebate at Grace
End
ED Servicer Borrower Incentive Plans with Rebates
Page 34 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9034
9035
R15
9036
Plan Information
Qualifying
Criteria
Other Incentive
Information
0.25% interest rate
reduction for ACH
Once reduction is effective,
the payment amount will
be reduced.
Maximum 2% on-time
interest rate reduction, in
2 steps:
Account can receive both
on-time and ACH
reductions simultaneously.
Comments
0.25% reduction at the
beginning of repayment
2% reduction after the 48th
consecutive on-time
payment
Plan Information
Qualifying
Criteria
1% OLA rebate at Grace
End
0.25% interest rate
reduction for ACH
1% interest rate reduction
after 36 on time payments
ED Servicer Borrower Incentive Plans with Rebates
Page 35 of 140
If the account
becomes 15 days
delinquent at any
time, they are
disqualified.
Other Incentive
Information
Account can receive both
on-time and ACH
reductions simultaneously
Once the reduction is
effective, the payment
amount will be reduced.
The borrower can request
a shortened payment
term.
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R16
9037-9040
Plan Information
Qualifying
Criteria
Other Incentive
Information
Plan Information
Qualifying
Criteria
Other Incentive
Comments
Information
Once the reduction is
effective the payment term
will be shortened. The
borrower can request a
reduced payment amount.
0.5% interest rate
reduction for ACH (offered
on all tiers)
1% interest rate reduction
immediately at Grace End
Account can receive both
on time and ACH
reductions
simultaneously.
9037
9038
1% OLA Rebate upon
making 6 on time
payments
9039
Additional 2% OLA Rebate
upon making 48 on time
payments
Regression plan : 0.25%
interest rate reduction for
remainder of loan.
If the borrower
becomes 16 days
past due at any
time, they will
regress to plan
1923.
Plan Information
Qualifying
Criteria
9040
ED Servicer Borrower Incentive
Plans with Rebates
9041-9045
R17
Page 36 of 140
Comments
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
0.25% interest rate
reduction for ACH
Qualifying
Criteria
Other Incentive
Information
Comments
Once reduction is effective,
the repayment term will be
shortened
If the borrower becomes
Benefits are forfeited for the
16 days delinquent or uses tiers affected by the
any forbearance months
application of forbearance.
during the qualification
period, they will lose their
eligibility for whatever
tier they are currently
qualifying for.
EXAMPLE: In the 10th month
a borrower has a 6 month
forb applied. They are now
disqualified from both Tier 1
and Tier 2 because the
forbearance period overlaps
2 tiers of the plan.
Maximum 4% PBO rebate,
in 4 steps:
Borrower qualifies on to
plan 9041 and stays there
until the first payment is
made.
9041
Immediate 1% PBO rebate
after 1 on time payment.
9042
(Plan 9042
Additional 1% PBO rebate
after 12 th on time payment
9043
(plan 9043)
Additional 1% PBO rebate
after 24 th on time payment
9044
(plan 9044)
Additional 1% PBO rebate
after 36 th on time payment
ED Servicer Borrower Incentive Plans with Rebates
9045
Page 37 of 140
(plan 9045)
If the borrower uses 36 or
more months of
forbearance (regardless of
type), they will lose all
benefits.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R18
9046-9049
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Plan Information
Qualifying
Criteria
Other Incentive
Information
Once reduction is effective,
the repayment term will be
shortened
Comments
0.25% interest rate
reduction for ACH
Each benefit tier will be
treated independently for
purposes of awarding benefit.
Delinquency and forbearance
are disqualifying factors.
If the borrower becomes
Benefits are forfeited for the
16 days delinquent or uses tiers affected by the
any forbearance months
application of forbearance.
during the qualification
period, they will lose their
eligibility for whatever
tier they are currently
qualifying for.
EXAMPLE: In the 10th month
a borrower has a 6 month
forb applied. They are now
disqualified from both Tier 1
and Tier 2 because the
forbearance period overlaps
2 tiers of the plan.
Maximum 3% PBO rebate,
in 3 steps:
Borrower qualifies on to
plan 9046 and stays there
until 12 payments are
ED Servicer Borrower Incentive Plans with Rebates
9046
made.
Page 38 of 140
If the borrower uses 36 or
more months of
forbearance (regardless of
type), they will lose all
benefits.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9047
9048
9049
R19
9050-9053
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Qualifying
Criteria
Other Incentive
Information
Once reduction is effective,
the repayment term will be
shortened
Comments
1% PBO rebate after 12th
on time payment (plan
9047)
Additional 1% PBO rebate
after 24th on time payment
(plan 9048)
Additional 1% PBO rebate
after 36th on time payment
(plan 9049)
Plan Information
0.25% interest rate
reduction for ACH
Maximum 3% PBO rebate,
in 3 steps:
Borrower qualifies on to
plan 9050 and stays there
until 12 payments are
made.
ED Servicer Borrower Incentive Plans with Rebates
9050
Page 39 of 140
Each benefit tier will be
treated independently for
purposes of awarding benefit.
Delinquency and forbearance
are disqualifying factors.
If the borrower becomes
Benefits are forfeited for the
16 days delinquent or uses tiers affected by the
any forbearance months
application of forbearance.
during the qualification
period, they will lose their
eligibility for whatever tier
they are currently
qualifying for.
EXAMPLE: In the 10th month
a borrower has a 6 month
forb applied. They are now
disqualified from both Tier 1
and Tier 2 because the
forbearance period overlaps
2 tiers of the plan.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
9051
9053
R20
9054
Comments
If the borrower uses 36 or
more months of
forbearance (regardless of
type), they will lose all
benefits.
1% PBO rebate after 12th
on time payment (plan
9051
9052
Other Incentive
Information
Additional 1% PBO rebate
after 24th on time payment
(plan 9052)
Additional 1% PBO rebate
after 36th on time payment
(plan 9053)
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
1.0% PBO rebate after 36
months
Once reduction is effective,
the repayment term will be
shortened.
1.0% interest rate
reduction after 48 on-time
payments.
If the borrower
becomes 15 days
delinquent at any
time, they will be
disqualified.
ED Servicer Borrower Incentive Plans with Rebates
Page 40 of 140
Other Incentive
Information
Account can receive both
on-time and ACH
reductions simultaneously
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R21
9055
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Plan Information
Qualifying
Criteria
Other Incentive
Information
Account can receive both
on-time and ACH
reductions simultaneously
Comments
1.0% PBO rebate at Grace
End
0.25% interest rate
reduction for ACH
Once reduction is effective,
the repayment term will be
shortened.
2.0% interest rate
reduction after 48 on-time
payments
If the borrower
becomes 15 days
delinquent, they
will be disqualified.
R22
9056
Plan Information
0.25% interest rate
reduction for ACH
1% PBO Rebate after 12
on time payments
ED Servicer Borrower Incentive Plans with Rebates
Page 41 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened
Borrower is permanently
disqualified from ACH upon
1 NSF
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
2% interest rate reduction
after 48 on time payments
R23
9057
Plan Information
Qualifying
Criteria
1% OLA rebate based on
Separation Date
9058
Plan Information
Other Incentive
Comments
Information
Once the reduction is
applied to the account, it
will never be removed,
regardless of delinquency.
Once reduction is effective,
the payment term will be
shortened
Qualifying
Criteria
2% interest rate reduction
for ACH
1% OLA rebate based on
Separation Date
Plan Information
ED Servicer Borrower Incentive Plans with Rebates
9059-9062
Page 42R25
of 140
Comments
If the borrower becomes
16 days delinquent at any
time, they will be
disqualified.
2% interest rate reduction
for ACH
R24
Other Incentive
Information
Other Incentive
Comments
Information
Once the reduction is
applied to the account, it
will never be removed,
regardless of delinquency.
Once reduction is effective,
the payment term will be
shortened
Qualifying
Criteria
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
0.25% interest rate
reduction for ACH
Once reduction is effective, Each benefit tier will be
the repayment term will be treated independently for
shortened
purposes of awarding benefit.
Delinquency and forbearance
are disqualifying factors.
Maximum 3% PBO rebate,
in 3 steps:
If the borrower becomes
Benefits are forfeited for the
16 days delinquent or uses tiers affected by the
any forbearance months
application of forbearance.
during the qualification
period, they will lose their
eligibility for whatever tier
they are currently
qualifying for.
EXAMPLE: In the 10th month
a borrower has a 6 month
forb applied. They are now
disqualified from both Tier 1
and Tier 2 because the
forbearance period overlaps
2 tiers of the plan.
Borrower qualifies on to
plan 9059 and stays there
until 12 payments are
made.
9059
1% PBO rebate after 12th
on time payment (plan
9060)
9060
Additional 1% PBO rebate
after 24th on time payment
(plan 9061)
9061
Additional 1% PBO rebate
after 36th on time payment
(plan 9062)
ED Servicer Borrower Incentive
Plans with Rebates
9062
Page 43 of 140
If the borrower uses 36 or
more months of
forbearance (regardless of
type), they will lose all
benefits.
Be sure to counsel the
borrower so they are aware
of the potential impact of
forbearance on their
incentive benefit.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R26
9063-9067
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Plan Information
Qualifying
Criteria
Other Incentive
Information
Once reduction is effective,
the repayment term will be
shortened
Comments
0.25% interest rate
reduction for ACH
If the borrower becomes
Benefits are forfeited for the
16 days delinquent or uses tiers affected by the
any forbearance months
application of forbearance.
during the qualification
period, they will lose their
eligibility for whatever tier
they are currently
qualifying for.
EXAMPLE: In the 10th month
a borrower has a 6 month
forb applied. They are now
disqualified from both Tier 1
and Tier 2 because the
forbearance period overlaps
2 tiers of the plan.
Maximum 4% PBO rebate,
in 4 steps:
If the borrower uses 36 or
more months of
forbearance (regardless of
type), they will lose all
benefits.
ED Servicer Borrower Incentive Plans with Rebates
Page 44 of 140
Each benefit tier will be
treated independently for
purposes of awarding benefit.
Delinquency and forbearance
are disqualifying factors.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Be sure to counsel the
borrower so they are aware
of the potential impact of
forbearance on their
incentive benefit.
Borrower qualifies on to
plan 9063 and stays there
until 1 payment is made.
9063
9064
9065
9066
9067
R27
9068-9071
Immediate 1% PBO rebate
at the beginning of
repayment (plan 9064)
Additional 1% PBO rebate
after 12 th on time payment
(plan 9065)
Additional 1% PBO rebate
after 24 th on time payment
(plan 9066)
Additional 1% PBO rebate
after 36 th on time payment
(plan 9067)
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 45 of 140
Comments
Qualifying
Criteria
Other Incentive
Information
Once reduction is effective,
the repayment term will be
shortened
Comments
Each benefit tier will be
treated independently for
purposes of awarding benefit.
Delinquency and forbearance
are disqualifying factors.
If the borrower becomes
Benefits are forfeited for the
16 days delinquent or uses tiers affected by the
any forbearance months
application of forbearance.
during the qualification
period, they will lose their
eligibility for whatever tier
they are currently
qualifying for.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
EXAMPLE: In the 10th month
a borrower has a 6 month
forb applied. They are now
disqualified from both Tier 1
and Tier 2 because the
forbearance period overlaps
2 tiers of the plan.
Maximum 3% PBO rebate,
in 3 steps:
If the borrower uses 36 or
more months of
forbearance (regardless of
type), they will lose all
benefits.
Borrower qualifies on to
plan 9068 and stays there
until 12 payments are
made.
9068
9069
9070
9071
R28
9072-9075
1% PBO rebate after 12th
on time payment (plan
9069)
Additional 1% PBO rebate
after 24th on time payment
(plan 9070)
Be sure to counsel the
borrower so they are aware
of the potential impact of
forbearance on their
incentive benefit.
Additional 1% PBO rebate
after 36th on time payment
(plan 9071)
Plan Information
Progressive Plan –
maximum 6.5% OLA
rebate in 4 Steps:
ED Servicer Borrower Incentive Plans with Rebates
Page 46 of 140
Qualifying
Criteria
Other Incentive
Information
Once reduction is effective
payment term will be
shortened.
Comments
If the borrower requests a
deferment or forbearance of
3 months or longer, and they
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9072
Plan Information
Qualifying
Criteria
9075
After an additional 12
consecutive ACH
payments, account
progresses to plan 9074
and receives an additional
1% OLA rebate. (9074)
After an additional 12
consecutive ACH payments
(24 total), account
progresses to plan 9075
and receives a final 1.5%
OLA rebate.
Borrower must sign
up for ACH within
the first 120 days
of repayment and
stay on it.
ED Servicer Borrower Incentive Plans with Rebates
Page 47 of 140
Comments
g
y
are still in the qualifying
months of this plan, you
should encourage them not
to cancel their ACH
enrollment, because that
would disqualify them from
If the borrower becomes
their remaining rebate
15 days delinquent or fails eligibility. You should
to reapply for ACH within instead advise the borrower
90 days of removal, they to stay on ACH and notify us
will retain whatever
of any bank changes that
rebates they have already take place during their
received and will become deferment/forbearance, so
ineligible for any additional that we can continue to draft
rebates.
from the correct account
once repayment resumes.
3% OLA rebate at Grace
End (plan 9072);
immediately progresses to
plan 9073 and starts the
120-day counter for ACH
enrollment.
After 5 months, if on ACH,
account progresses to plan
9073 and receives an
additional 1% OLA
rebate.(9073)
9073
9074
Other Incentive
Information
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower is
removed from ACH
due to bank
changes or
deferment/
forbearance, they
must reapply no
more than 90 days
after the ACH
Removal Date (see
Comments).
R29
9076
Plan Information
2.50% interest rate
reduction for ACH
1% OLA rebate after 1 on
time payment
ED Servicer Borrower Incentive Plans with Rebates
Page 48 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Account can receive both
on time and ACH
reductions simultaneously.
Once reduction is effective,
the repayment term will be
shortened. Borrower can
request a reduced
payment amount.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
Once reduction is effective
payment term will be
shortened.
Comments
If borrower is more
than 15 days
delinquent, they
will be disqualified
from the ACH
benefit only. They
will retain the
rebate if it has
been applied.
R30
9077-9079
9077
Plan Information
Progressive Plan –
maximum 3.5% OLA
rebate in 3 steps:
1% rebate after 24th
consecutive ACH payment
(plan 9077).
Additional 1% rebate after
30th consecutive ACH
payment (plan 9078).
9078
9079
Additional 1.5% rebate
after 36th consecutive ACH
payment (plan 9079).
ED Servicer Borrower Incentive Plans with Rebates
Page 49 of 140
Qualifying
Criteria
If the borrower becomes
15 days delinquent or fails
to reapply for ACH within
90 days of removal, they
will retain whatever
rebates they have already
received and become
ineligible for any additional
rebates.
Sub and Unsub loans within
the same loan period count
as one loan.
If the second loan converts
to servicing while the first
loan has progressed through
the 24 and 30 month rebate
periods, the first loan should
receive the 36 month rebate
along with the 24 and 30
month rebates.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower requests a
deferment or forbearance of
3 months or longer, and they
are still in the first 36
months of this plan, you
should encourage them not
to cancel their ACH
enrollment, because that
would disqualify them from
their remaining rebate
eligibility. You should
instead advise the borrower
to stay on ACH and notify us
of any bank changes that
take place during their
deferment/forbearance, so
that we can continue to draft
from the correct account
once repayment resumes.
Borrower must sign
up for ACH within
the first 90 days of
repayment and stay
on it.
ED Servicer Borrower Incentive Plans with Rebates
Page 50 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower is
removed from ACH
due to bank
changes or
deferment/
forbearance, they
must reapply no
more than 90 days
after the ACH
Removal Date (see
Comment 3).
R31
9080-9082
9080
Plan Information
Progressive Plan –
maximum 3.5% OLA
rebate in 3 steps:
Immediate 1% rebate
when repayment begins
and borrower enrolls in
ACH (plan 9080).
Additional 1% rebate after Client Code = 1S,
N7, or 5S
12th consecutive ACH
payment (plan 9081).
9081
9082
Qualifying
Other Incentive
Criteria
Information
Loan type = FSL or Once reduction is effective
PLUS
payment term will be
shortened.
Additional 1.5% rebate
after 24th consecutive ACH
payment (plan 9082).
ED Servicer Borrower Incentive Plans with Rebates
Page 51 of 140
If the borrower becomes
15 days delinquent or fails
to reapply for ACH within
90 days of removal, they
will retain whatever
rebates they have already
received and become
ineligible for any additional
rebates.
Comments
Sub and Unsub loans within
the same loan period count
as one loan.
If the second loan converts
to servicing while the first
loan has progressed through
the rebate periods, the first
loan should receive the 24month rebate along with the
initial one and the 12-month
rebates.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Borrower must
obtain at least two
new loans having
first disbursement
dates between
07/01/02 and
6/30/04 (see
Comments 1 and
2).
Borrower must sign
up for ACH within
the first 90 days of
repayment and stay
on it.
ED Servicer Borrower Incentive Plans with Rebates
Page 52 of 140
Other Incentive
Information
Comments
If the borrower requests a
deferment or forbearance of
3 months or longer, and they
are still in the first 24
months of this plan, you
should encourage them not
to cancel their ACH
enrollment, because that
would disqualify them from
their remaining rebate
eligibility. You should
instead advise the borrower
to stay on ACH and notify us
of any bank changes that
take place during their
deferment/forbearance, so
that we can continue to draft
from the correct account
once repayment resumes.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
Once reduction is effective
payment term will be
shortened.
Comments
If the borrower is
removed from ACH
due to bank
changes or
deferment/
forbearance, they
must reapply no
more than 90 days
after the ACH
Removal Date (see
Comment 3).
R32
9083-9085
9083
Plan Information
Progressive Plan –
maximum 3.5% OLA
rebate in 3 steps:
Immediate 1% rebate
upon ACH enrollment
Additional 1% rebate after
12th consecutive ACH
payment
9084
9085
Additional 1.5% rebate
after 24th consecutive ACH payment
ED Servicer Borrower Incentive Plans with Rebates
Page 53 of 140
Qualifying
Criteria
If the borrower requests a
deferment or forbearance of
3 months or longer, and they
are still in the first 24
months of this plan, you
If the borrower becomes
should encourage them not
15 days delinquent or fails to cancel their ACH
to reapply for ACH within enrollment, because that
90 days of removal, they would disqualify them from
will retain whatever
their remaining rebate
rebates they have already eligibility. You should
received and become
instead advise the borrower
ineligible for any additional to stay on ACH and notify us
rebates.
of any bank changes that
take place during their
deferment/forbearance, so
that we can continue to draft
from the correct account
once repayment resumes.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Borrower must sign
up for ACH within
the first 90 days of
repayment and stay
on it.
If the borrower is
removed from ACH
due to bank
changes or
deferment/
forbearance, they
must reapply no
more than 90 days
after the ACH
Removal Date (see
Comments).
R33
9086-9088
Plan Information
0.25% interest rate
reduction for ACH
Combined OLA rebate and
maximum 2% on-time
interest rate reduction, in
3 steps:
9086
Immediate 0.25% interest
rate reduction
ED Servicer Borrower Incentive Plans with Rebates
Page 54 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
If borrower becomes 16
days delinquent at any
time, they are disqualified
from the plan
Once the reduction is
effective the payment term
will be shortened, they
may request a reduced
payment at any time.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9087
9088
R34
9089
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
They can qualify for the
ACH and on time payment
at the same time.
1% OLA rebate after 24th
consecutive on-time
payment
2% interest rate reduction
after 48th consecutive ontime payment
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
Offers a 1% rebate after
48 on time payments.
Other Incentive
Comments
Information
Once the reduction is
effective the payment term
will be shortened, they
may request a reduced
payment at any time.
If the borrower
becomes 16 days
delinquent during
the qualification
period, they are
disqualified from
the plan.
R35
9090/9091
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 55 of 140
Qualifying
Criteria
Other Incentive
Information
Account can receive both
on-time and ACH
reductions simultaneously
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Combined OLA rebate and
maximum 2% on-time
interest rate reduction, in
2 steps:
9090
Other Incentive
Information
Comments
If the account becomes 15
days delinquent during the
qualification period, the
borrower is disqualified
from the plan.
1% OLA rebate (origination
fees) and 0.25% interest
rate reduction at Grace
End
2% interest rate reduction
after 48th consecutive ontime payment
Once the reduction is
applied to the account, it
will never be removed,
regardless of delinquency
9091
Once reduction is effective,
the payment amount will
be reduced. The borrower
can request a shortened
repayment term at any
time
On-time reduction is
effective at the 49th month
of repayment.
R36
9092
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 56 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once the reduction is
effective the payment term
will be shortened. The
borrower may request a
reduced payment amount.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
1% OLA rebate after 36 on
time payments.
R37
9093
Plan Information
Other Incentive
Information
Comments
If the borrower becomes 7
days delinquent during the
qualification period, they
will be disqualified.
Qualifying
Criteria
0.25% interest rate
reduction for ACH
1.0% OLA rebate after 36
on-time payments
Other Incentive
Comments
Information
Account can receive both
on time and ACH
reductions simultaneously.
Once reduction is effective,
the payment amount will
be reduced.
1.0% interest rate
reduction after 48 on-time
payments
If the borrower
becomes 15 days
delinquent at any
time, they will be
disqualified.
PBO = $50,000 or
more
R38
9094-9096
Plan Information
Progressive Plan – 3% OLA
rebate in 3 steps:
ED Servicer Borrower Incentive Plans with Rebates
Page 57 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective
payment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9094
Plan Information
Qualifying
Criteria
Immediate 1% OLA rebate
after 1st on time payment
.
Additional 1% OLA rebate
after the 15th consecutive
ACH payment
9095
9096
Additional 1% OLA rebate
after the 30th consecutive
ACH payment (plan 9096).
Borrower must sign
up for ACH within
the first 90 days of
repayment and stay
on it, in order to be
eligible for the 2nd
and 3rd rebates.
ED Servicer Borrower Incentive Plans with Rebates
Page 58 of 140
Other Incentive
Information
Comments
If the borrower becomes
15 days delinquent or fails
to reapply for ACH within
90 days of removal, they
will retain whatever
rebates they have already
received and become
ineligible for any additional
rebates.
If the borrower requests a
deferment or forbearance of
3 months or longer, and they
are still in the first 30
months of this plan,
encourage them not to
cancel ACH enrollment as
that would disqualify them
from any remaining rebate
eligibility. Instead, advise
the borrower to stay on ACH
and notify us of any bank
changes that take place
during their
deferment/forbearance, so
that we can continue to draft
from the correct account
once repayment resumes.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower is
removed from ACH
due to bank
changes or
deferment/
forbearance, they
must reapply no
more than 90 days
after the ACH
Removal Date (see
Comment 2).
R39
9097-9099
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
Progressive plan –
maximum 4% OLA rebate
in 3 steps:
9097
9098
9099
R40
9100-9102
Other Incentive
Comments
Information
Once reduction is effective,
the payment term will be
shortened.
If the account becomes 15
days delinquent at any
time, the borrower is
disqualified from the plan.
2% rebate after 1st ontime payment
Additional 1% rebate after
24th consecutive on-time
payment
Additional 1% rebate after
48th consecutive on-time
payment
Plan Information
ED Servicer Borrower Incentive Plans with Rebates
Page 59 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
9100
9101
9102
Other Incentive
Information
Comments
Once reduction is effective,
the payment term will be
shortened.
Progressive plan –
maximum 4% OLA rebate
in 3 steps:
2% rebate after 1st ontime payment
Additional 1% rebate after
24th consecutive on-time
payment
Additional 1% rebate after
48th consecutive on-time
payment
If the borrower
becomes 16 days
delinquent at any
time, they will be
disqualified.
R41
9103
Plan Information
1% interest rate reduction
after 48 on-time
payments.
Offers a .25% reduction for
ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 60 of 140
Qualifying
Criteria
Other Incentive
Information
The borrower can qualify
for the ACH and on time
reduction simultaneously
Once the reduction is
effective, the payment
term will be shortened.
Borrower can request a
reduced payment amount.
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Offers a 1% OLA rebate
after 36 on time payments
Other Incentive
Information
Comments
If the borrower becomes
14 days past due at any
time, they will become
disqualified.
OLA Minimum of
$50,000
R42
9104
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
1% PBO rebate at
Separation Date
Other Incentive
Information
Borrower can qualify for
both on-time and ACH
reductions simultaneously
Comments
Once reduction is effective,
the repayment term will be
shortened.
1% interest rate reduction
after 24 on-time payments
If the borrower
becomes 15 days
delinquent at any
time, they are
disqualified.
R43
9105-9107
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 61 of 140
Qualifying
Criteria
Other Incentive
Information
If the borrower becomes
15 days past due during
the qualification period,
they will be disqualified.
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Immediate 3.65% interest
rate reduction for the first
12 months of repayment
ONLY.
Once reduction is effective,
the payment amount will
be reduced. The borrower
can request a shortened
repayment term
1% PBO rebate after 48 on
time payments
The on time interest rate
reduction will be
suspended during periods
of deferment or
forbearance.
9105
9106
9107
R44
9108-9110
Other Incentive
Information
Comments
Option to release the cosigner from the loan
obligation after the 48th on
time payment
Plan Information
0.25% interest rate
reduction for ACH
Immediate 3.0% interest
rate reduction for the first
12 months of repayment
ONLY.
9108
ED Servicer Borrower Incentive Plans with Rebates
Page 62 of 140
Qualifying
Criteria
Other Incentive
Information
If the borrower becomes
15 days past due during
the qualification period,
they will be disqualified.
Once reduction is effective,
the payment amount will
be reduced. The borrower
can request a shortened
repayment term
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
1.5% PBO Rebate after 48
on time payments
R45
9111-9115
Option to release the cosigner from the loan
obligation after the 48th on
time payment.
Plan Information
Progressive Plan –
maximum 7.0% OLA
rebate in 5 Steps:
1% rebate upon 1st ACH
payment. (Plan 9111). *
9111
Additional 1% rebate after
12th consecutive ACH
payment (plan 9112)
9112
9113
Comments
The on time interest rate
reduction will be
suspended during periods
of deferment or
forbearance.
9109
9110
Other Incentive
Information
Additional 1.5% rebate
after 24th consecutive ACH
payment
ED Servicer Borrower Incentive Plans with Rebates
Page 63 of 140
Qualifying
Criteria
Other Incentive
Information
Once reduction is effective
payment term will be
shortened.
Comments
If the borrower requests a
deferment or forbearance of
3 months or longer, and they
are still in the first 48
months of this plan, you
should encourage them not
to cancel their ACH
If the borrower becomes
15 days delinquent or fails enrollment, because that
to reapply for ACH within would disqualify them from
90 days of removal, they their remaining rebate
eligibility. You should
will retain whatever
rebates they have already instead advise the borrower
to stay on ACH and notify us
received and become
ineligible for any additional of any bank changes that
take place during their
rebates.
deferment/forbearance, so
that we can continue to draft
from the correct account
once repayment resumes.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
p y
Additional 1.75% rebate
after 36th consecutive ACH
payment .
* If a borrower has a
first disbursement from
7/1/07 through
7/31/07, the first
rebate is awarded at
Grace End regardless of
ACH Enrollment.
9114
9115
Additional 1.75% rebate
after 48th consecutive ACH
payment
Borrower must sign
up for ACH within
the first 120 days
of repayment and
stay on it.
If the borrower is
removed from ACH
due to bank
changes or
deferment/
forbearance, they
must reapply no
more than 90 days
after the ACH
Removal Date (see
Comments).
R46
9116-9120
Plan Information
Progressive Plan –
maximum 7.0% OLA
rebate in 5 Steps:
ED Servicer Borrower Incentive Plans with Rebates
Page 64 of 140
Qualifying
Criteria
Other Incentive
Information
Once reduction is effective
payment term will be
shortened.
Comments
If the borrower requests a
deferment or forbearance of
12 months or longer, and
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9116
Plan Information
Qualifying
Criteria
9119
9120
Additional 1.5% rebate
after 24th consecutive ACH
payment
Additional 1.75% rebate
after 36th consecutive ACH
payment .
Additional 1.75% rebate
after 48th consecutive ACH
payment
Borrower must sign
up for ACH within
the first 365 days
of repayment and
stay on it.
ED Servicer Borrower Incentive Plans with Rebates
Page 65 of 140
Comments
g
they are still in the first 48
months of this plan, you
should encourage them not
If the borrower becomes
15 days delinquent or fails to cancel their ACH
to reapply for ACH within enrollment, because that
90 days of removal, they would disqualify them from
their remaining rebate
will retain whatever
rebates they have already eligibility. You should
instead advise the borrower
received and become
ineligible for any additional to stay on ACH and notify us
of any bank changes that
rebates.
take place during their
deferment/forbearance, so
that we can continue to draft
from the correct account
once repayment resumes.
1% rebate upon 1st ACH
payment.
Additional 1% rebate after
12th consecutive ACH
payment
9117
9118
Other Incentive
Information
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
Once reduction is effective
payment term will be
shortened. Borrower can
request a reduced
payment amount.
Comments
If the borrower is
removed from ACH
due to bank
changes or
deferment/
forbearance, they
must reapply no
more than 90 days
after the ACH
Removal Date (see
Comments).
R47
9121-9123
Plan Information
0.25% interest rate
reduction for ACH
Progressive Plan –
maximum 3% OLA rebate
in 3 steps:
9121
1% rebate upon 1st ACH
payment. .
Additional 1% rebate after
12th consecutive ACH
payment
9122
ED Servicer Borrower Incentive Plans with Rebates
Page 66 of 140
Qualifying
Criteria
If the borrower requests a
deferment or forbearance of
3 months or longer, and they
are still in the first 24
months of this plan, you
should encourage them not
to cancel their ACH
If the borrower becomes
enrollment, because that
15 days delinquent or fails would disqualify them from
to reapply for ACH within their remaining rebate
90 days of removal, they eligibility. You should
will retain whatever
instead advise the borrower
rebates they have already to stay on ACH and notify us
received and become
of any bank changes that
ineligible for any additional take place during their
rebates.
deferment/forbearance, so
that we can continue to draft
from the correct account
once repayment resumes.
Borrower is disqualified
from ACH benefit upon 1
NSF.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9123
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
Once reduction is effective
payment term will be
shortened.
Comments
Additional 1% rebate after
24th consecutive ACH
payment
Borrower must get
on ACH within the
first 120 days of
repayment and stay
on it.
If the borrower is
removed from ACH
due to bank
changes or
deferment/
forbearance, they
must reapply no
more than 90 days
after the ACH
Removal Date.
R48
9370-9372
9370
Plan Information
Progressive Plan –
maximum 3.5% OLA
rebate in 3 steps:
1% rebate upon 1st ACH
payment. (Plan 9370).*
ED Servicer Borrower Incentive Plans with Rebates
Page 67 of 140
Qualifying
Criteria
If the borrower requests a
deferment or forbearance of
3 months or longer, and they
are still in the first 24
months of this plan, you
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Additional 1% rebate after
12th consecutive ACH
payment
9371
9372
Other Incentive
Information
Comments
If the borrower becomes
15 days delinquent or fails
to reapply for ACH within
90 days of removal, they
will retain whatever
rebates they have already
received and become
ineligible for any additional
rebates.
should encourage them not
to cancel their ACH
enrollment, because that
would disqualify them from
their remaining rebate
eligibility. You should
instead advise the borrower
to stay on ACH and notify us
of any bank changes that
take place during their
deferment/forbearance, so
that we can continue to draft
from the correct account
once repayment resumes.
Other Incentive
Information
Comments
Additional 1.5% rebate
after 24th consecutive ACH
payment.
Borrower must sign
up for ACH within
the first 90 days of
repayment and stay
on it.
If the borrower is
removed from ACH
due to bank
changes or
deferment/
forbearance, they
must reapply no
more than 90 days
after the ACH
Removal Date (see
Comments).
R49
9380
Plan Information
ED Servicer Borrower Incentive Plans with Rebates
Page 68 of 140
Qualifying
Criteria
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Offers 0.6% interest rate
reduction for ACH
Other Incentive
Information
Comments
Once reduction is effective, The CDW1 letter gives the
the repayment term will be borrower a choice between
shortened.
receiving a check for the
rebate amount or having it
deducted from their PBO
upon qualification. Borrower
will have 30 days from the
date of the CDW1 letter to
notify ACS and request a
check.
1% PBO Rebate after 24
on time payments
If the borrower
becomes 16 days
delinquent during
the qualification
period, they are
disqualified from
the plan.
R50
9390/9391
Plan Information
0.6% interest rate
reduction for ACH
9390
Plan A: CDW1 offer letter
after 23rd consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their rebate by
check if preferred.
ED Servicer Borrower Incentive Plans with Rebates
Page 69 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened. Borrower has
the option to select a
reduced payment amount.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9391
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Plan B: 1% PBO rebate
after 24th consecutive ontime payment, in the form
requested by the borrower
(check or PBO reduction).
If the borrower
becomes 16 days
delinquent during
the qualification
period, they are
disqualified.
R51
9400-9403
Plan Information
0.6% interest rate
reduction for ACH
Maximum 3% on-time PBO
rebate, in 4 steps:
ED Servicer Borrower Incentive Plans with Rebates
Page 70 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
If the account becomes 16 Progressive – 4-tiered plan.
days delinquent, the
borrower is disqualified
from the plan.
Once reduction is effective, The CDW1 letter gives the
the payment term will be borrower a choice between
shortened.
receiving the rebate via a
check or having ACS apply it
as a PBO reduction.
Borrower will have 30 days
from the date of the CDW1
letter to notify ACS and
request a check.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9400
9401
9402
9403
R52
9410-9413
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Qualifying
Criteria
Other Incentive
Comments
Information
If the borrower becomes
Progressive – 4-tiered plan.
16 days delinquent, they
will be disqualified from
the next scheduled benefit.
Tier 1: CDW1 offer letter
after 11th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their first rebate by
check if preferred.
Tier 2: 1% PBO rebate after
12th consecutive on-time
payment, in the form
requested by the borrower
(check or PBO reduction).
Tier 3: CDW1 offer letter
after 23rd consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their second rebate
by check if preferred.
Tier 4: Additional 2% PBO
rebate after 24th consecutive
on-time payment, in the form
requested by the borrower
(check or PBO reduction).
Plan Information
0.6% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 71 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Maximum 2% PBO rebate,
in 4 steps:
9410
9411
9412
9413
Tier 1: CDW1 offer letter
after 11th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their first rebate by
check if preferred.
Tier 2: 1% PBO rebate after
12th consecutive on-time
payment, in the form
requested by the borrower
(check or PBO reduction).
Tier 3: CDW1 offer letter
after 23rd consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their second rebate
by check if preferred.
Tier 4: Additional 1% PBO
rebate after 24th consecutive
on-time payment, in the form
requested by the borrower
(check or PBO reduction).
ED Servicer Borrower Incentive Plans with Rebates
Page 72 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
Once reduction is effective, The CDW1 letter gives the
the payment term will be borrower a choice between
shortened.
receiving the rebate via a
check or having ACS apply it
as a PBO reduction.
Borrower will have 30 days
from the date of the CDW1
letter to notify ACS and
request a check.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R53
9420-9423
Plan Information
Qualifying
Criteria
Other Incentive
Information
Plan Information
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective, Progressive – 4-tiered plan.
the payment term will be
shortened. Borrower has
the option to select a
reduced payment amount.
0.6% interest rate
reduction for ACH
Maximum 2% on-time PBO
rebate, in 4 steps:
9420
9421
Tier 1: CDW1 offer letter
after 23rd consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their first rebate by
check if preferred.
Tier 2: 1% PBO rebate after
24th consecutive on-time
payment, in the form
requested by the borrower
(check or PBO reduction).
ED Servicer Borrower Incentive Plans with Rebates
Page 73 of 140
Comments
Additional information
The CDW1 letter gives the
regarding each tier can be borrower a choice between
viewed on the A13
receiving the rebate via a
“Comments” window.
check or having ACS apply it
as a PBO reduction.
Borrower will have 30 days
from the date of the CDW1
letter to notify ACS and
request a check.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9422
9423
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Tier 3: CDW1 offer letter
after 35th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their second rebate
by check if preferred.
Tier 4 Additional 1% PBO
rebate after 36th consecutive
on-time payment, in the form
requested by the borrower
(check or PBO reduction).
If the account
becomes 16 days
delinquent, the
borrower is
disqualified from
the plan.
R54
9430
Plan Information
Offers a 1% interest rate
reduction after 48 on time
payments.
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 74 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective
payment term will be
shortened.
Account can receive both
the interest rate reduction
and the ACH reduction
simultaneously.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
Once reduction is effective
payment term will be
shortened. Borrower can
request a reduced
payment amount.
Comments
1% OLA rebate after 36 on If the borrower
time payments.
becomes past due
more than 14 days
at any time, they
will be disqualified.
OLA Minimum
$50,000.
R55
9440-9442
Plan Information
0.25% interest rate
reduction for ACH
Progressive Plan –
maximum 3% OLA rebate
in 3 steps:
1% rebate upon 1st ACH
payment.
Additional 1% rebate after
12th consecutive ACH
9441
payment
ED Servicer Borrower Incentive
Plans with Rebates
9440
Page 75 of 140
Qualifying
Criteria
If the borrower requests a
deferment or forbearance of
3 months or longer, and they
are still in the first 24
months of this plan, you
should encourage them not
to cancel their ACH
If the borrower becomes
enrollment, because that
15 days delinquent or fails would disqualify them from
to reapply for ACH within their remaining rebate
90 days of removal, they eligibility. You should
will retain whatever
instead advise the borrower
rebates they have already to stay on ACH and notify us
received and become
of any bank changes that
ineligible for any additional take place during their
rebates.
deferment/forbearance, so
that we can continue to draft
from the correct account
once repayment resumes.
Borrower is disqualified
from ACH benefit upon 1
NSF.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9442
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Additional 1% rebate after
24th consecutive ACH
payment
Borrower must get
on ACH within the
first 120 days of
repayment and stay
on it.
If the borrower is
removed from ACH
due to bank
changes or
deferment/
forbearance, they
must reapply no
more than 90 days
after the ACH
Removal Date.
R56
9450
Plan Information
0.7% interest rate
reduction for ACH
1% PBO Rebate after 12
on time payments
ED Servicer Borrower Incentive Plans with Rebates
Page 76 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened
If the borrower becomes
16 days delinquent during
the qualification period,
they will be disqualified.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R57
9460
Plan Information
Qualifying
Criteria
Other Incentive
Information
Plan Information
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective
payment term will be
shortened.
0.25% interest rate
reduction for ACH
Comments
1% OLA Rebate after 24
on time payments.
If the borrower
becomes 6 days
past due at any
time, they will be
disqualified.
R58
9470
Plan Information
0.25% interest rate
reduction for ACH
1% OLA Rebate after 12
on time payments
R59
9480-9483
Plan Information
0.3% interest rate
reduction for ACH
9480
0.3% interest rate
reduction on first
disbursement date
ED Servicer Borrower Incentive Plans with Rebates
Page 77 of 140
Qualifying
Other Incentive
Criteria
Information
Account cannot
become more than
20 days delinquent
during qualifying
period
Qualifying
Criteria
Other Incentive
Information
Once reduction is effective,
the payment term will be
shortened. Borrower has
the option to request a
reduced payment amount.
Comments
This incentive is client
assigned.
Comments
PBO rebate is in the form of
a PBO reduction only;
borrower will not receive a
check for the rebate amount.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9481
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
At Grace End, begins
payment counter for first
rebate
Maximum 3.6% on-time
PBO rebate, in 2 steps:
If the borrower
becomes 16 days
delinquent, they
will be disqualified.
Tier 1: 1.2% PBO rebate
after 12th on time payment
9482
9483
R60
9490-9491
9490
9491
Tier 2: 2.4% PBO rebate
after 24th on time payment
Plan Information
Qualifying
Criteria
1% OLA Rebate after the
12th on time payment (plan
9490)
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
Additional 1.5% OLA
Rebate after the 36th on
time payment (plan 9491)
If the borrower
becomes 7 days
delinquent during
the qualifying
period, they will be
disqualified.
Plan Information
ED Servicer
Plans with Rebates
9500-9503
R61Borrower Incentive
Page 78 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
0.75% ACH Interest rate
reduction (for all tiers)
Account can receive both
on-time and ACH
reductions simultaneously.
0.25% interest rate
reduction immediately
upon fully disbursed.
Once reduction is effective,
the repayment term will be
shortened. The borrower
can request a reduced
payment amount.
1% interest rate reduction
at Grace End
Borrower will be
disqualified from the ACH
benefit upon 1 NSF
occurrence.
Comments
9500
9501
1.5% OLA rebate upon 18
on time payment
9502
9503
R62
9510
If the borrower
becomes 6 days
delinquent at any
time, they will
regress to plan
1328.
The 1% interest rate
reduction is suspended
during deferment and
forbearance.
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
Regression Plan 9503:
0.25% interest rate
reduction for remainder of
loan.
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 79 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
3% PBO rebate after 36
consecutive on-time
payments
If the account
becomes 15 days
delinquent during
the qualification
period, they will be
disqualified.
R63
9520
Plan Information
Qualifying
Criteria
Immediate 0.75% interest
rate reduction once
account enters repayment.
0.25% interest rate
reduction for ACH
Both the on time and ACH
benefits will be disqualified
upon 1 NSF.
3% PBO Rebate after 3 on
time payments
PBO = $7500 or
more
ED Servicer Borrower Incentive Plans with Rebates
Page 80 of 140
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
If the borrower
becomes 31 days
delinquent at any
time, they will be
disqualified.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R64
9530
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Plan Information
Qualifying
Criteria
Other Incentive
Information
Account can receive both
on-time and ACH
reductions simultaneously
Comments
0.6% interest rate
reduction immediately
upon the loan being fully
disbursed.
3% PBO rebate 180 days
after the final
disbursement date.
Once reduction is effective,
the repayment term will be
shortened.
The borrower will never be
disqualified from the plan
regardless of delinquency.
OLA = $8,500 or
more.
R65
9540
Plan Information
Immediate 1% interest
rate reduction when
account enters repayment
3% OLA Rebate when the
account enters repayment.
ED Servicer Borrower Incentive Plans with Rebates
Page 81 of 140
Qualifying
Criteria
Other Incentive
Information
Account can receive both
on-time and ACH
reductions simultaneously
Once reduction is effective,
the repayment term will be
shortened.
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
1.25% interest rate
reduction for ACH
Other Incentive
Information
Comments
If the borrower ever
makes an NSF payment
(7017 transaction, Activity
Code “Z”), they will
become permanently
ineligible for the both the
on time and ACH benefits.
On time interest rate
reduction will be
suspended during periods
of deferment and
forbearance.
OLA = $10,000 or
more.
If the borrower
becomes 15 days
delinquent at any
time, they will be
disqualified.
R66
9550/9551
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 82 of 140
Qualifying
Criteria
Other Incentive
Information
Account can receive both
on-time and ACH
reductions simultaneously.
Comments
The fee rebate is equal to the
origination fee minus
$250.00 (ex: origination fees
on disbursements that qualify
equal $400. The protected
amount is equal to $250.
The rebate would equal $400
- $250 = $150)
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Combined on-time OLA
rebate and interest rate
reduction, in 2 steps:
9550
9551
Other Incentive
Information
Comments
This is a progressive plan.
On-time reduction is
effective at the 25th & 49th The account begins on plan
730. After 24 on time
month of repayment.
payments, the rebate is
applied. After 48 on time
payments, the account is
moved to plan 740 and the
2% reduction is applied.
Plan 9550: 3% OLA rebate
(origination fees) after 24th
consecutive on-time
payment, minus a $250.00
protected amount (see
Comments).
Plan 9551: 2% interest
rate reduction after 48th
consecutive on time
payment.
First disbursement
date = 07/01/01 6/30/03
Once reduction is effective, If the account does not
the repayment term will be qualify for this plan, try plan
shortened
code 700.
If the borrower
becomes 14 days
delinquent at any
time, they will be
disqualified.
R67
9560
Plan Information
0.25% interest rate
reduction for ACH
3% origination fee rebate
after 12 on time payments.
ED Servicer Borrower Incentive Plans with Rebates
Page 83 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Account can receive both
on-time and ACH
reductions simultaneously.
Origination Fee Rebate is
effective at the 13th month
of repayment.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Once the reduction is
applied to the account, it
will never be removed,
regardless of delinquency.
Once reduction is effective,
If the borrower
the repayment term will be
becomes 15 days
shortened.
delinquent during
qualification period,
they will be
disqualified.
R68
9570-9573
Plan Information
3% Origination Fee Rebate
at Grace End (plan 9570)
Qualifying
Criteria
Other Incentive
Comments
Information
Account can receive both
on-time and ACH
reductions simultaneously.
9570
0.25% interest rate
reduction for ACH
On-time reduction is
effective at the 25th, 37th,
& 49th months of
repayment.
Maximum 2% on-time
interest rate reduction, in
3 stages:
If the borrower becomes
15 days delinquent during
qualification period, they
will be disqualified.
0.5% interest rate
reduction after 24th
consecutive on-time
9571
payment (plan 9571)
ED Servicer Borrower Incentive Plans with Rebates
Page 84 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
1% interest rate reduction
after 36th consecutive ontime payment (plan 9572)
Other Incentive
Information
Comments
Once the reduction is
applied to the account, it
will never be removed,
regardless of delinquency.
9572
9573
2% interest rate reduction
after 48th consecutive ontime payment (plan 9573)
Once reduction is effective,
the repayment term will be
shortened.
Try to qualify the account for
a plan based on the above
priority codes.
R69
9575
Plan Information
3.3% OLA rebate after 33
on time payments
Qualifying
Criteria
Other Incentive
Comments
Information
Account can receive both
on-time and ACH
reductions simultaneously.
On-time reduction is
effective at the 37th
month of repayment.
Once reduction is effective,
the repayment term will be
shortened
ED Servicer Borrower Incentive Plans with Rebates
Page 85 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower
becomes 6 days
delinquent during
the qualification
period, they will be
disqualified.
R70
9576
Plan Information
1.5% Rebate of Original
Loan Amount at Grace End
Qualifying
Criteria
Other Incentive
Comments
Information
Account can receive all
reductions simultaneously.
0.25% interest rate
reduction for ACH
Once a reduction is
effective, the payment
term will be shortened
accordingly.
1% interest rate reduction
after 36 on-time payments
If the borrower becomes
15 days past due at any
time during the first 12
months of repayment, we
will revoke the 1.5% graceend rebate and add the
rebate amount back to the
borrower’s PBO, effective
the 16th day of
delinquency.
ED Servicer Borrower Incentive Plans with Rebates
Page 86 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower becomes
15 days past due at any
time during the first 36
months of repayment, they
will lose their eligibility for
the 1% interest rate
reduction. However, once
they achieve the reduction,
they will never lose it,
regardless of delinquency.
R71
9577
Plan Information
Qualifying
Criteria
Other Incentive
Comments
Information
Once the reduction is
effective the payment term
will be shortened.
Qualifying
Criteria
Other Incentive
Comments
Information
Account can receive both
on-time and ACH
reductions simultaneously.
3% OLA rebate at
Separation Date
2.5% interest rate
reduction for ACH
R72
9578
Plan Information
1% interest rate reduction
immediately at repayment.
ED Servicer Borrower Incentive Plans with Rebates
Page 87 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
0.25% interest rate
reduction for ACH
The interest rate reduction
will never be removed,
regardless of delinquency.
2% OLA rebate after 48 on
time payments
Once reduction is effective,
the repayment term will be
shortened. Borrower can
request a reduced
payment amount.
Comments
If borrower is more
than 10 days
delinquent, they
will be disqualified
from the Rebate
benefit only.
R73
9579
Plan Information
1% interest rate reduction
immediately at repayment.
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 88 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Account can receive both
on-time and ACH
reductions simultaneously.
The interest rate reduction
will never be removed,
regardless of delinquency.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
1.5% OLA rebate after 48
on time payments
Other Incentive
Information
Comments
Once reduction is effective,
the repayment term will be
shortened. Borrower can
request a reduced
payment amount.
If borrower is more
than 10 days
delinquent, they
will be disqualified
from the Rebate
benefit only.
R74
9580
Plan Information
1.75% interest rate
reduction immediately at
repayment.
Qualifying
Criteria
Other Incentive
Comments
Information
Account can receive both
on-time and ACH
reductions simultaneously.
0.25% interest rate
reduction for ACH
The interest rate reduction
will never be removed,
regardless of delinquency.
3% OLA rebate after 48 on
time payments
Once reduction is effective,
the repayment term will be
shortened. Borrower can
request a reduced
payment amount.
ED Servicer Borrower Incentive Plans with Rebates
Page 89 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If borrower is more
than 10 days
delinquent, they
will be disqualified
from the Rebate
benefit only.
R75
9581
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
3% PBO Rebate after 12
on time payments
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened
Borrower is permanently
disqualified from ACH upon
1 NSF
If the borrower becomes
16 days delinquent during
the qualification period,
they will be disqualified.
R76
9582
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 90 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R77
9583
Plan Information
Qualifying
Criteria
3% PBO Rebate after 12
on time payments
Borrower is permanently
disqualified from ACH upon
1 NSF
2% interest rate reduction
after 48 on time payments
If the borrower becomes
16 days delinquent at any
time, they will be
disqualified.
Plan Information
Qualifying
Criteria
1.75% interest rate
reduction for ACH
R78
9584
Other Incentive
Information
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened
0.25% interest rate
reduction at Grace End
Borrower is permanently
disqualified from ACH upon
1 NSF
3% PBO Rebate after 12
on time payments
If the borrower becomes
16 days delinquent at any
time, they will be
disqualified.
Plan Information
2% interest rate reduction
after 48 on time payments
ED Servicer Borrower Incentive Plans with Rebates
Page 91 of 140
Qualifying
Criteria
Comments
Other Incentive
Information
Account can receive both
on-time and ACH
reductions simultaneously
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
3% Origination Fee Rebate
at Sep Date
Once the reduction is
applied to the account, it
will never be removed,
regardless of delinquency.
0.25% interest rate
reduction for ACH
Once reduction is effective,
the payment term will be
shortened
Comments
If borrower
becomes 14 days
delinquent during
the qualification
period, they will
become
disqualified.
R79
9585
Plan Information
0.25% interest rate
reduction for ACH
3% origination fee rebate
after 24 on time payments
ED Servicer Borrower Incentive Plans with Rebates
Page 92 of 140
Qualifying
Criteria
Other Incentive
Information
Account can receive both
on-time and ACH
reductions simultaneously.
Once the reduction is
applied to the account, it
will never be removed,
regardless of delinquency.
Comments
The fee rebate is equal to the
origination fee minus
$250.00 ( ex: origination
fees on disbursements that
qualify equal $400. The
protected amount is equal to
$250. The rebate would
equal $400 - $250 = $150)
After 24 on time payments,
the rebate is applied. After
48 on time payments, the
2% reduction is applied
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
2% interest rate reduction
after 48 on time payments.
R80
9586
Plan Information
Other Incentive
Information
Comments
Once reduction is effective,
the repayment term will be
shortened
Qualifying
Criteria
0.25% interest rate
reduction for ACH
2% interest rate reduction
after 48 on time payments.
Other Incentive
Information
Once the reduction is
effective the payment term
will be shortened, they
may request a reduced
payment at any time.
They can qualify for the
ACH and on time payment
at the same time.
Comments
The fee rebate is equal to the
origination fee minus
$250.00 ( ex: origination
fees on disbursements that
qualify equal $400. The
protected amount is equal to
$250. The rebate would
equal $400 - $250 = $150)
Rebate of the 3%
origination fees after 24 on
time payments, minus a
$250.00 protected amount
(see Comments).
If the borrower
becomes 16 days
past due they will
be disqualified from
the plan.
Plan Information
9587
R81Borrower Incentive
ED Servicer
Plans with Rebates
Page 93 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Offers a 3% rebate after
48 on-time payments
Other Incentive
Information
Comments
The rebate will be based
on the borrowers PBO at
the time they become
eligible for the rebate.
0.25% interest rate
reduction for ACH
If the borrower
becomes 16 days
delinquent during
qualification period,
they are
disqualified.
R82
9588
Plan Information
Qualifying
Criteria
Offers a 7% rebate after
48 on-time payments
0.25% interest rate
reduction for ACH
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time they become
eligible for the rebate.
Comments
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time they become
Comments
If the account
becomes 14 days
delinquent during
qualification period,
they are
disqualified.
R83
9589
Plan Information
Offers a 5% rebate after
48 on-time payments
ED Servicer Borrower Incentive Plans with Rebates
Page 94 of 140
Qualifying
Criteria
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
y
eligible for the rebate.
0.25% interest rate
reduction for ACH
If the borrower
becomes 16 days
delinquent during
qualification period,
they are
disqualified.
R84
9590
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
5% PBO rebate after 48 ontime payments
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time they become
eligible for the rebate.
Comments
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time they become
eligible for the rebate.
Comments
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
R85
9591
Plan Information
Offers a 7% rebate after
48 on-time payments
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 95 of 140
Qualifying
Criteria
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time they become
eligible for the rebate.
Comments
Other Incentive
Information
Account can receive both
on-time and ACH
reductions simultaneously
Comments
If the borrower
becomes 16 days
delinquent during
qualifying period,
the borrower is
disqualified.
R86
9592
Plan Information
Qualifying
Criteria
Offers a 10% rebate after
48 on-time payments
0.25% interest rate
reduction for ACH
If the borrower
becomes 16 days
delinquent during
qualification period,
they are
disqualified.
R87
9593
Plan Information
2% OLA rebate at Grace
End
ED Servicer Borrower Incentive Plans with Rebates
Page 96 of 140
Qualifying
Criteria
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
0.25% interest rate
reduction for ACH
If the account becomes 15
days delinquent during
qualification period, the
borrower is disqualified.
2% interest rate reduction
after 48 consecutive ontime payments
Once the reduction is
effective, it will never be
removed regardless of
delinquency.
Comments
Once the reduction is
effective, the repayment
term will be shortened.
The borrower can request
a reduced payment
amount.
R88
9594
Plan Information
Qualifying
Criteria
3% OLA rebate after 36 on
time payments.
Other Incentive
Comments
Information
Once the reduction is
effective the payment term
will be shortened. The
borrower may request a
reduced payment amount.
If the borrower
becomes 7 days
delinquent at any
time, they will be
disqualified.
Plan Information
ED Servicer Borrower Incentive
Plans with Rebates
9595
R89
Page 97 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R90
9596
Plan Information
Other Incentive
Information
Comments
0.25% interest rate
reduction for ACH
Once the reduction is
effective the payment term
will be shortened. The
borrower may request a
reduced payment amount.
Priority 1 plan. If borrower
attends a school in a state
other than what is listed, try
plan 3145.
1.5% OLA rebate after 18
on time payments.
If the borrower becomes 7
days delinquent during the
qualification period, they
will be disqualified.
Plan Information
0.25% interest rate
reduction for ACH
Qualifying
Criteria
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the payment term will be
shortened. The borrower
can request a reduced
payment amount.
SPECIAL BENEFIT: 3%
PBO Rebate after 1st on
time ACH payments (see
Comments)
If the borrower becomes
16 days delinquent during
qualification period, they
will be disqualified.
5% Rebate of PBO
excluding capitalized
interest after 48 on time
ACH payments
Borrower will become
disqualified for the ACH
benefit upon 1 NSF
occurrence.
ED Servicer Borrower Incentive Plans with Rebates
Page 98 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Borrower must sign
up for ACH within
the first 90 days of
repayment and stay
on ACH. If ACH is
removed, borrower
must re-enroll
within 45 days to
maintain eligibility.
R91
9597
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
3% OLA Rebate after 36
on-time payments
Other Incentive
Comments
Information
Once reduction is effective,
the payment term will be
shortened.
Account can receive both
ACH and on-time
reductions simultaneously
If the borrower
becomes 15 days
delinquent at any
time, they will be
disqualified.
R92
9598
Plan Information
4% OLA Rebate after 33
on time ACH Payments
ED Servicer Borrower Incentive Plans with Rebates
Page 99 of 140
Qualifying
Criteria
Other Incentive
Information
Once the reduction is
effective, the payment
term will be shortened.
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Borrower must sign up for
ACH within the first 90
days of repayment.
Borrower must make 33
consecutive scheduled
payments via ACH to
qualify for the rebate
incentive.
If the borrower
becomes 16 days
delinquent, they
will be disqualified
from the plan.
R93
9599/9124
Plan Information
Qualifying
Criteria
Progressive plan –
maximum 6% OLA rebate
in 2 steps:
2% OLA rebate after 1st ontime payment (plan 9599)
Other Incentive
Comments
Information
Once reduction is effective,
the payment term will be
shortened.
9599
Additional 4% OLA rebate
after 30th consecutive ontime payment (plan 9124)
If the account becomes 15
days delinquent at any
time, the borrower is
disqualified from the plan.
9124
R94
9600
Plan Information
Offers a 4% OLA rebate
following 33 on-time
payments.
ED Servicer Borrower Incentive Plans with Rebates
Page 100 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once the reduction is
effective payment amount
will be reduced.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower
becomes 14 days
past due during the
qualification period,
they will be
disqualified.
R95
9601/9602
9601
9602
R96
9603
Plan Information
Qualifying
Criteria
Progressive plan –
maximum 6% OLA rebate
in 2 steps:
2% rebate after 1st ontime payment
Additional 4% rebate after
30th consecutive on-time
payment
Plan Information
If the borrower becomes
16 days delinquent at any
time, they will be
disqualified.
Qualifying
Criteria
Offers a 9.5% rebate after
48 on-time payments
0.25% interest rate
reduction for ACH
If the borrower
becomes 16 days
delinquent during
qualification period,
they are
disqualified.
ED Servicer Borrower Incentive Plans with Rebates
Page 101 of 140
Other Incentive
Comments
Information
Once reduction is effective,
the payment term will be
shortened.
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time they become
eligible for the rebate.
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R97
9604
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
9.5% PBO rebate after 48
on-time payments
Other Incentive
Information
Comments
The rebate will be based
on the borrowers PBO at
the time they become
eligible.
This plan also offers an
additional 1% PBO rebate
upon graduation and after 1
on time payment. This
added benefit is administered
and tracked by CLC directly.
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time they become
eligible.
Comments
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
Comments
If the borrower
becomes 16 days
delinquent during
qualification period,
they are
disqualified.
R98
9605
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
6.5% PBO rebate after 48
on-time payments
If the borrower
becomes 16 days
delinquent during
qualification period,
they are
disqualified.
R99
9606
Plan Information
0.25% interest rate
ED Servicer Borrower Incentive Plans with Rebates
reduction for ACH
Page 102 of 140
Qualifying
Criteria
This plan also offers an
additional 1% PBO rebate
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
6.5% PBO rebate after 48
on-time payments
Other Incentive
Information
Comments
the time they become
eligible.
upon graduation and after 1
on time payment. This
added benefit is administered
and tracked by CLC directly.
Other Incentive
Information
The rebate will be based
on the borrowers OLA.
Comments
If the borrower
becomes 16 days
delinquent during
qualification period,
they are
disqualified.
R100
9607
Plan Information
Qualifying
Criteria
Offers a 10% rebate after
48 on-time payments
Once reduction is effective,
the repayment term will be
shortened. The borrower
may request a reduced
payment amount.
If the borrower
becomes 16 days
delinquent during
qualification period,
they are
disqualified.
R101
9608
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 103 of 140
Qualifying
Criteria
Other Incentive
Information
The rebate will be based
on the borrowers OLA.
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
10% OLA rebate after 48
on-time payments
Other Incentive
Information
Comments
Once reduction is effective,
the repayment term will be
shortened. The borrower
may request a reduced
payment amount.
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
R102
9609
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
3% PBO rebate after 24 ontime payments
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
ED Servicer Borrower Incentive Plans with Rebates
Page 104 of 140
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R103
9610
Plan Information
Qualifying
Criteria
Other Incentive
Information
Plan Information
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
0.25% interest rate
reduction for ACH
Comments
10% PBO rebate after 48
on-time payments
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
R104
9611
Plan Information
Qualifying
Criteria
0.6% interest rate
reduction at first
disbursement
Borrower must be enrolled
in ACH by the 120th day of
repayment in order to
retain the interest rate
reduction.
3% PBO rebate after 24 ontime payments
If the borrower
becomes 16 days
delinquent, they
will be disqualified.
ED Servicer Borrower Incentive Plans with Rebates
Page 105 of 140
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time the rebate is
awarded.
Comments
Borrower will lose
interest rate
reduction upon 1
NSF.
R105
9612
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
Once reduction is effective,
the repayment term will be
shortened.
3% PBO rebate after 48 ontime payments
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
R106
9613
Plan Information
0.25% interest rate
reduction for ACH
3% PBO rebate after 24 ontime payments
ED Servicer Borrower Incentive Plans with Rebates
Page 106 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower
becomes 16 days
delinquent during
qualification period,
they are
disqualified.
R107
9614
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
10% PBO rebate after 48
on-time payments
R108
9615
Plan Information
0.6% interest rate
reduction at first
disbursement
3% PBO rebate after 24 ontime payments
ED Servicer Borrower Incentive Plans with Rebates
Page 107 of 140
Other Incentive
Comments
Information
If the borrower becomes
16 days delinquent during
the qualification period,
they will be disqualified.
The rebate will be based
on the borrowers PBO at
the time they become
eligible for the rebate.
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
Borrower must be enrolled
in ACH by the 120th day of
repayment in order to
retain the interest rate
reduction.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Borrower will lose interest
rate reduction upon 1 NSF.
If the borrower
becomes 16 days
delinquent, they
will be disqualified.
R109
9616
Plan Information
Qualifying
Criteria
0.6% interest rate
reduction at first
disbursement
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
Borrower must be enrolled
in ACH by the 120th day of
repayment in order to
retain the interest rate
reduction.
3% PBO rebate after 24 ontime payments
Borrower will lose interest
rate reduction upon 1 NSF.
If the borrower
becomes 16 days
delinquent, they
will be disqualified.
ED Servicer Borrower Incentive Plans with Rebates
Page 108 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R110
9617
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Plan Information
Qualifying
Criteria
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time the rebate is
awarded.
Comments
0.25% interest rate
reduction for ACH
Once reduction is effective,
the repayment term will be
shortened.
3% PBO rebate after 36 ontime payments
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
R111
9618
Plan Information
0.25% interest rate
reduction for ACH
3% PBO rebate after 24 ontime payments
ED Servicer Borrower Incentive Plans with Rebates
Page 109 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time the rebate is
awarded.
Comments
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
R112
9619
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
Once reduction is effective,
the repayment term will be
shortened
5% PBO rebate after 36 ontime payments
If the borrower becomes
16 days delinquent during
the qualification period,
they will be disqualified.
R113
9620
Plan Information
1% interest rate reduction
at first disbursement
ED Servicer Borrower Incentive Plans with Rebates
Page 110 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Borrower must be enrolled
in ACH by the 120th day of
repayment in order to
retain the interest rate
reduction. CLC will provide
a list to ACS monthly that
will identify borrowers who
should be disqualified due
to failure to enroll in ACH.
3% PBO rebate after 24 ontime payments
If the borrower
becomes 16 days
delinquent, they
will be disqualified.
Borrower will lose
interest rate
reduction upon 1
NSF.
R114
9621
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 111 of 140
Qualifying
Criteria
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time they become
eligible.
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
10% PBO rebate after 48
Current payments
A
Current
Payment
Counter is used to clock
toward the 48 payments.
Borrower must satisfy Past
Due Amt, Late Charges
Due and Current Pay Due
in order to advance the
counter.
Final 3 payments waived
after 48 current payments
(see Comments)
There is no Max Days Late
for this plan.
Comments
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
R115
9622
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 112 of 140
Qualifying
Criteria
Other Incentive
Information
The rebate will be based
on the borrowers PBO at
the time they become
eligible.
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R116
9623
Plan Information
Qualifying
Criteria
Other Incentive
Information
7% PBO rebate after
current payments
A Current Payment
Counter is used to clock
toward the 48 payments.
Borrower must satisfy Past
Due Amt, Late Charges
Due and Current Pay Due
in order to advance the
counter.
Final 3 payments waived
after 48 current payments
(see Comments)
There is no Max Days Late
for this plan.
Plan Information
1% interest rate reduction
at first disbursement
3% PBO rebate after 24 ontime payments
ED Servicer Borrower Incentive Plans with Rebates
Page 113 of 140
Qualifying
Criteria
Comments
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
Borrower must be enrolled
in ACH by the 120th day of
repayment in order to
retain the interest rate
reduction. CLC will provide
a list to ACS monthly that
will identify borrowers who
should be disqualified due
to failure to enroll in ACH.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower
becomes 16 days
delinquent, they
will be disqualified.
Borrower will lose
interest rate
reduction upon 1
NSF.
R117
9624
Plan Information
Qualifying
Criteria
0.6% interest rate
reduction at first
disbursement
Borrower must be enrolled Priority 3 Plan
in ACH by the 120th day of
repayment in order to
retain the interest rate
reduction. CLC will provide
a list to ACS monthly that
will identify borrowers who
should be disqualified due
to failure to enroll in ACH.
3% PBO rebate after 24 ontime payments
If the borrower
becomes 16 days
delinquent, they
will be disqualified.
ED Servicer Borrower Incentive Plans with Rebates
Page 114 of 140
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Borrower will lose
interest rate
reduction upon 1
NSF.
R118
9625
Plan Information
Qualifying
Criteria
1% interest rate reduction
at first disbursement
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
Borrower must be enrolled
in ACH by the 120th day of
repayment in order to
retain the interest rate
reduction. CLC will provide
a list to ACS monthly that
will identify borrowers who
should be disqualified due
to failure to enroll in ACH.
3% PBO rebate after 24 ontime payments
If the borrower
becomes 16 days
delinquent, they
will be disqualified.
Borrower will lose
interest rate
reduction upon 1
NSF.
Plan Information
9626
R119
ED Servicer Borrower Incentive Plans with Rebates
Page 115 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
0.6% interest rate
reduction at first
disbursement
Once reduction is effective,
the repayment term will be
shortened.
3% PBO rebate after 24 ontime payments
Borrower must be enrolled
in ACH by the 120th day of
repayment in order to
retain the interest rate
reduction.
Comments
If the borrower
becomes 16 days
delinquent, they
will be disqualified.
Borrower will lose
interest rate
reduction upon 1
NSF.
R120
9627
Plan Information
1% interest rate reduction
at first disbursement
ED Servicer Borrower Incentive Plans with Rebates
Page 116 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Borrower must be enrolled
in ACH by the 120th day of
repayment in order to
retain the interest rate
reduction. CLC will provide
a list to ACS monthly that
will identify borrowers who
should be disqualified due
to failure to enroll in ACH.
3% PBO rebate after 24 ontime payments
If the borrower
becomes 16 days
delinquent, they
will be disqualified.
Borrower will lose
interest rate
reduction upon 1
NSF.
R121
9628
Plan Information
0.25% interest rate
reduction for ACH
10% PBO rebate after 48
consecutive on-time
payments
ED Servicer Borrower Incentive Plans with Rebates
Page 117 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the account
becomes 16 days
delinquent at any
time, they are
disqualified from
the plan.
R122
9629
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened.
5% PBO rebate after 48
consecutive on-time
payments.
If the account
becomes 16 days
delinquent at any
time, they are
disqualified from the
plan.
R123
9630/9631/912 Plan Information
5
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 118 of 140
Qualifying
Criteria
Other Incentive
Information
If the borrower becomes
15 days past due during
the qualification period,
they will be disqualified.
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Immediate 4% interest
rate reduction for the first
12 months of repayment
ONLY. (9630)
Once reduction is effective,
the payment amount will
be reduced. The borrower
can request a shortened
repayment term
1.5% PBO rebate after 48
on time payments (9631)
The on time interest rate
reduction will be
suspended during periods
of deferment or
forbearance.
9630
9631
9125
R124
9632/9633
Other Incentive
Information
Comments
Option to release the cosigner from the loan
obligation after the 48th on
time payment. (9125)
Plan Information
0.6% Interest Rate
Reduction immediately
upon disbursement
3% OLA rebate 180 days
after last disbursement
date.
9632
ED Servicer Borrower Incentive Plans with Rebates
Page 119 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
payment term will be
shortened.
After making the first 12
payments on time, the
borrower will be plan
changed manually to plan
4572 and will retain the
0.6% interest rate
reduction for the life of the
loan.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Plan 4572 is manually
applied only if first 12
payments are made on
time.
9635-9639
9635
Plan Information
0.6% Interest Rate
Reduction immediately
upon disbursement
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
payment term will be
shortened.
3% OLA rebate 180 days
after last disbursement
If the borrower becomes
15 days delinquent within
the first 12 months of
repayment, they will lose
the initial 0.6% interest
rate reduction and remain
on plan 4581.
Plan 4581 locks in the
minimum interest rate
reduction of 0.6% after the
12th on time payment and
continues counting months
for the next possible
benefit.
If the borrower becomes
15 days delinquent they
will revert to the 0.6%
reduction for the
remaining life of the loan.
9636
9637
1.1% interest rate
reduction after 24th on
time payment
9638
ED Servicer Borrower Incentive Plans with Rebates
Page 120 of 140
Comments
If the borrower becomes
15 days delinquent within
the first 12 months of
repayment, they will lose
the initial 0.6% interest
rate reduction.
9633
R125
Other Incentive
Information
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9639
R126
9640-9643
9640
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Qualifying
Criteria
Other Incentive
Comments
Information
Priority 1 plan
Once the rebate is
effective the payment term
will be shortened.
1.6% interest rate
reduction after 36th on
time payment
Plan Information
0.25% interest rate
reduction for ACH (offered
on all tiers)
Progressed to Plan 9641 at
Grace End and will begin
qualifying for the Rebate.
If the borrower does not earn
the rebate, they will be
eligible for the payment
forgiveness (plan 9643).
There is no disqualification
due to delinquency for this
plan.
8% PBO Rebate upon
making 36 on time
payments (Plan 9642)
Plan Code 9640 is for
qualification purposes only
and offers no actual benefit.
9641
9642
OR
Regression plan 9643:
Final 6 payments waived
(cannot consolidate or
qualify early)
9643
ED Servicer Borrower Incentive Plans with Rebates
Page 121 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
If the borrower
becomes 8 days
past due before
earning the rebate,
they will regress to
plan 4618 and
become eligible for
the final 6 months
of payment
forgiveness.
R127
9645/9646
Plan Information
Qualifying
Criteria
5% PBO Rebate after 1 on
time payment (Plan 9645)
9645
EARN BACK BENEFIT:
Upon disqualification due
to delinquency, borrower
will have rebate reversed
and on time counter will be
cleared. Borrower will be
placed on plan 9646, which
offers a 1% interest rate
reduction after 36 on time
payments.
Other Incentive
Comments
Information
Once reduction is effective, Priority 1 plan
the payment term will be
shortened
If the borrower becomes
15 days delinquent at any
time, they will be
disqualified.
Plan 4621 is MANUALLY
APPLIED and is not a
progressive plan. A semiautomated process is in place
to do the following
transactions upon
disqualification from plan
9645: 7021 (Rebate
Reversal); 5082 (Plan
Change); 3023 (Clear On
Time Counter)
Other Incentive
Information
Comments
9646
Plan Information
9650/9651
R128
ED Servicer Borrower Incentive Plans with Rebates
Page 122 of 140
Qualifying
Criteria
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
Other Incentive
Information
Comments
Once reduction is effective,
the repayment term will be
shortened.
9650
9651
2% PBO Rebate after 48
on time payments
If the borrower
becomes 16 days
delinquent during
the qualification
period, they are
disqualified.
R129
9655-9658
Plan Information
0.6% interest rate
reduction for ACH
Maximum 5% on-time PBO
rebate, in 4 steps:
ED Servicer Borrower Incentive Plans with Rebates
Page 123 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective, Progressive – 4-tiered plan.
the payment term will be
shortened. Borrower has
the option to select a
reduced payment amount.
The CDW1 letter gives the
borrower a choice between
receiving the rebate via a
check or having ACS apply it
as a PBO reduction.
Borrower will have 30 days
from the date of the CDW1
letter to notify ACS and
request a check.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9655
9656
9657
9658
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
Comments
Tier 1: CDW1 offer letter
after 11th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their first rebate by
check if preferred.
Tier 2: 2% PBO rebate after
12th consecutive on-time
payment, in the form
requested by the borrower
(check or PBO reduction).
Tier 3: CDW1 offer letter
after 35th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their second rebate
by check if preferred.
Tier 4: Additional 3% PBO
rebate after 36th consecutive
on-time payment, in the form
requested by the borrower
(check or PBO reduction).
If the account
becomes 16 days
delinquent, the
borrower is
disqualified from
the plan.
R130
9660-9663
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 124 of 140
Qualifying
Criteria
Progressive – 4-tiered plan.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Maximum 8% on-time OLA
rebate, in 4 steps:
Tier 1: CDW1 offer letter
after 35th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their first rebate
by check if preferred.
9660
9661
9662
Tier 2: 2% OLA rebate
after 36th consecutive ontime payment, in the form
requested by the borrower
(check or PBO reduction).
Tier 3: CDW1 offer letter
after 47th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their second
rebate by check if
preferred.
ED Servicer Borrower Incentive Plans with Rebates
Page 125 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
The CDW1 letter gives the
borrower a choice between
receiving the rebate via a
check or having ACS apply it
as a PBO reduction.
Borrower will have 30 days
from the date of the CDW1
letter to notify ACS and
request a check.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9663
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Tier 4: Additional 6% OLA
rebate after 48th
consecutive on-time
payment, in the form
requested by the borrower
(check or PBO reduction).
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
R131
9665-9668
Plan Information
0.25% interest rate
reduction for ACH
Maximum 5% PBO rebate,
in 4 steps:
ED Servicer Borrower Incentive Plans with Rebates
Page 126 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
If the borrower becomes
Progressive – 4-tiered plan.
16 days delinquent, they
will be disqualified from
the next scheduled benefit.
Once reduction is effective, The CDW1 letter gives the
the payment term will be borrower a choice between
shortened.
receiving the rebate via a
check or having ACS apply it
as a PBO reduction.
Borrower will have 30 days
from the date of the CDW1
letter to notify ACS and
request a check.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9665
9666
9667
9668
R132
9670-9673
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Qualifying
Criteria
Other Incentive
Information
Comments
Tier 1: CDW1 offer letter
after 23rd consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their first rebate by
check if preferred.
Tier 2: 3% PBO rebate after
24th consecutive on-time
payment, in the form
requested by the borrower
(check or PBO reduction).
Tier 3: CDW1 offer letter
after 35th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their second rebate
by check if preferred.
Tier 4: Additional 2% PBO
rebate after 36th consecutive
on-time payment, in the form
requested by the borrower
(check or PBO reduction).
Plan Information
0.6% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 127 of 140
Progressive – 4-tiered plan.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Maximum 4% on-time PBO
rebate, in 4 steps:
9670
9671
9672
9673
Tier 1: CDW1 offer letter
after 23rd consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their first rebate by
check if preferred.
Tier 2: 2% PBO rebate after
24th consecutive on-time
payment, in the form
requested by the borrower
(check or PBO reduction).
Tier 3: CDW1 offer letter
after 47th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their second rebate
by check if preferred.
Tier 4: Additional 2% PBO
rebate after 48th consecutive
on-time payment, in the form
requested by the borrower
(check or PBO reduction).
ED Servicer Borrower Incentive Plans with Rebates
Page 128 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
The CDW1 letter gives the
borrower a choice between
receiving the rebate via a
check or having ACS apply it
as a PBO reduction.
Borrower will have 30 days
from the date of the CDW1
letter to notify ACS and
request a check.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
Comments
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
R133
9675-9678
9675
9676
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
Progressive – 4-tiered plan.
Maximum 7% on-time OLA
rebate, in 4 steps:
The CDW1 letter gives the
borrower a choice between
receiving the rebate via a
check or having ACS apply it
as a PBO reduction.
Borrower will have 30 days
from the date of the CDW1
letter to notify ACS and
request a check.
Tier 1: CDW1 offer letter
after 35th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their first rebate by
check if preferred.
Tier 2: 2% OLA rebate after
36th consecutive on-time
payment, in the form
requested by the borrower
(check or PBO reduction).
ED Servicer Borrower Incentive Plans with Rebates
Page 129 of 140
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9677
9678
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Tier 3: CDW1 offer letter
after 47th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their second rebate
by check if preferred.
Tier 4: Additional 5% OLA
rebate after 48th consecutive
on-time payment, in the form
requested by the borrower
(check or PBO reduction).
If the borrower
becomes 16 days
delinquent during
qualification period,
they will be
disqualified.
R134
9680-9683
Plan Information
Immediate 0.6% interest
rate reduction for ACH
Maximum 4.5% on-time
PBO rebate, in 4 steps:
ED Servicer Borrower Incentive Plans with Rebates
Page 130 of 140
Qualifying
Criteria
Other Incentive
Comments
Information
If the account becomes 16 Progressive – 4-tiered plan.
days delinquent, the
borrower is disqualified
from the plan.
Once reduction is effective, The CDW1 letter gives the
the payment term will be borrower a choice between
shortened.
receiving the rebate via a
check or having ACS apply it
as a PBO reduction.
Borrower will have 30 days
from the date of the CDW1
letter to notify ACS and
request a check.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
9680
9681
9682
9683
R135
9685
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the payment term will be
shortened.
Qualifying
Criteria
Other Incentive
Information
Tier 1: CDW1 offer letter
after 23rd consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their first rebate by
check if preferred.
Tier 2: 2% PBO rebate after
24th consecutive on-time
payment, in the form
requested by the borrower
(check or PBO reduction).
Tier 3: CDW1 offer letter
after 47th consecutive ontime payment. This letter
invites the borrower to call
ACS within 30 days to
request their second rebate
by check if preferred.
Tier 4: Additional 2.5% PBO
rebate after 48th consecutive
on-time payment, in the form
requested by the borrower
(check or PBO reduction).
Plan Information
0.25% interest rate
reduction for ACH
3% OLA Rebate at Grace
End
Plan Information
9686
R136
ED Servicer Borrower Incentive Plans with Rebates
Page 131 of 140
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
Other Incentive
Information
Comments
Once reduction is effective,
the payment term will be
shortened. Borrower can
request a reduced
payment amount.
3% OLA Rebate after 1 on
time payment
1% interest rate reduction
after 1 on time payment.
If the borrower
becomes 22 days
delinquent at any
time, they will be
disqualified.
R137
9687
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
3% OLA Rebate after 1 on
time payment
Other Incentive
Comments
Information
Once reduction is effective,
the payment term will be
shortened. Borrower can
request a reduced
payment amount.
1% interest rate reduction
after 24 on time
payments.
If the borrower
becomes 22 days
delinquent at any
time, they will be
disqualified.
Plan Information
9688
R138
ED Servicer
Borrower Incentive Plans with Rebates
Page 132 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Immediate 1.25% interest
rate reduction at final
disbursement date.
Other Incentive
Information
Comments
Once reduction is effective,
the payment term will be
shortened. Borrower can
request a reduced
payment amount.
0.75% interest rate
reduction for ACH
3% OLA Rebate after 1 on
time payment
If the borrower
becomes 22 days
delinquent at any
time, they will be
disqualified.
R139
9689
Plan Information
Qualifying
Criteria
5% PBO Rebate 75 days
after final disbursement
date.
2% interest rate reduction
after 30 on time payments
Plan Information
ED Servicer Borrower Incentive Plans with Rebates
9690
R140
Page 133
of 140
Other Incentive
Information
If the account becomes 16
days delinquent at any
time, the benefit will be
lost.
Comments
*If/when the borrower
becomes delinquent before
making the first 12 on time
payments, their rebate
amount will be manually
reversed and added back to
their principal balance
outstanding.
Once reduction is effective,
the repayment term will be
shortened.
Qualifying
Criteria
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R141
9691
Plan Information
Other Incentive
Information
Comments
5% PBO Rebate 75 days
after final disbursement
date.
If the account becomes 16
days delinquent at any
time, the benefit will be
revoked.
*If/when the borrower
becomes delinquent before
making the first 12 on time
payments, their rebate
amount will be manually
reversed and added back to
their principal balance
outstanding.
2% interest rate reduction
after 30 on time payments
Once reduction is effective,
the repayment term will be
shortened.
Plan Information
Qualifying
Criteria
Qualifying
Criteria
5% PBO Rebate 75 days
after final disbursement
date.
2% interest rate reduction
after 30 on time payments
R142
9695-9697
Plan Information
ED Servicer Borrower Incentive Plans with Rebates
Page 134 of 140
Other Incentive
Information
If the borrower becomes
16 days delinquent at any
time, they will lose the
benefit.*
Comments
*If/when the borrower
becomes delinquent before
making the first 12 on time
payments, their rebate
amount will be manually
reversed and added back to
their principal balance
outstanding.
Once reduction is effective,
the repayment term will be
shortened.
Qualifying
Criteria
Other Incentive
Information
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
3% PBO Rebate after
borrower makes 12 on
time payments and
provides proof of
graduation.
9695
Qualifying
Criteria
Other Incentive
Information
Comments
Borrower MUST initiate the
rebate request ONLY after
making 12 on time
payments but before the
16th payment (see
Comments)
All eligible accounts will show
Plan 9695 when they convert
to servicing. This plan acts
only as a placeholder and
does not offer any benefit.
Once reduction is effective, Upon 12 on time payments,
the repayment term will be borrower progresses to plan
shortened.
9696, which offers no
benefit, but does open the 3month window within which
the borrower must contact
ACS to both request the
rebate and provide proof of
graduation (i.e. diploma).
9696
If borrower becomes 16
days delinquent during the
qualification period, they
will be disqualified.
ED Servicer Borrower Incentive Plans with Rebates
Page 135 of 140
If borrower does NOT contact
ACS and provide proof of
graduation within the 3month
timeframe,
the
account will retain plan code
9696, but with a Rebate
Status of 22 – Disqualified,
due to Program Term.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Borrower must
graduate
Manual intervention is
If the borrower does contact
required by ACS reps. See ACS and submit proof of
graduation, process a manual
comments.
5082 transaction to apply
plan 9697, which will award
the 3% PBO rebate when the
weekly billing cycle runs.
9697
The borrower must
either reside in or
attend school in
AZ, CO, DC,
DE,IL,IN,KS,MD,MI,
MN,MS,NJ, NV, OH,
OR,PA,TN,TX,WA,W
V, VA
R143
9700
Plan Information
Qualifying
Criteria
0.25% interest rate
reduction for ACH
1.5% OLA Rebate after 12
on time payments
If the borrower
becomes 16 days
delinquent at any
time, they will be
disqualified.
ED Servicer Borrower Incentive Plans with Rebates
Page 136 of 140
Other Incentive
Comments
Information
Once the reduction is
effective the payment term
will be shortened.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
R144
9701
Plan Information
Qualifying
Criteria
Other Incentive
Information
Plan Information
Qualifying
Criteria
Other Incentive
Comments
Information
Once reduction is effective,
the repayment term will be
shortened
0.25% interest rate
reduction for ACH
3.33% PBO Rebate after
30 on time payments
R145
9702
Plan Information
Comments
If the borrower becomes
16 days delinquent during
the qualification period,
they will be disqualified.
Qualifying
Criteria
2% interest rate reduction
after 1 on time payment.
Other Incentive
Information
Once reduction is effective
payment term will be
shortened.
3% PBO Rebate after 1 on
time payment*
Comments
*If/when the borrower
becomes delinquent, the
rebate amount will be
reversed and added back to
their principal balance
outstanding.
If the borrower
becomes 16 days
delinquent at any
time, they will be
disqualified.
R146
9703
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 137 of 140
Qualifying
Other Incentive
Criteria
Information
Account cannot
become more than
20 days delinquent
Comments
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
3% OLA Rebate after 24
on time payments, less
$250 protected amount.
R147
9704
Plan Information
0.25% interest rate
reduction for ACH
3% OLA Rebate after 36
on time payments
R148
9705
Plan Information
0.25% interest rate
reduction for ACH
2% OLA Rebate after 24
on time payments
R149
9706
Plan Information
0.25% interest rate
reduction for ACH
5% OLA Rebate after 36
on time payments
R150
9707
Plan Information
0.25% interest rate
reduction for ACH
ED Servicer Borrower Incentive Plans with Rebates
Page 138 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
Qualifying
Other Incentive
Criteria
Information
Account cannot
become more than
20 days delinquent
during qualifying
period
Comments
Qualifying
Other Incentive
Criteria
Information
Account cannot
become more than
20 days delinquent
during qualifying
period
Comments
Qualifying
Other Incentive
Criteria
Information
Account cannot
become more than
20 days delinquent
during qualifying
period
Comments
Qualifying
Other Incentive
Criteria
Information
Account cannot
become more than
20 days delinquent
Comments
y
q
during qualifying
period
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
5% OLA Rebate after 48
on time payments
R151
9709
Plan Information
Qualifying
Criteria
Other Incentive
Information
Comments
Other Incentive
Information
Comments
Qualifying
Other Incentive
Criteria
Information
Account cannot
become more than
20 days delinquent
during qualifying
period.
Comments
y
q
during qualifying
period
Qualifying
Criteria
0.25% interest rate
reduction for ACH
Borrower will
receive IRR
regardless of
delinquency.
0.25% interest rate
reduction upon entering
repayment.
5.0% OLA rebate after 36
on time payments.
R152
9710
Plan Information
0.25% interest rate
reduction for ACH
2.0% interest rate
reduction after 48 on time
payments.
ED Servicer Borrower Incentive Plans with Rebates
Page 139 of 140
If more than 20
days late in the
first 36 months,
they are
disqualified from
the Rebate benefit
only.
ED Servicer Borrower Incentive Plans with Rebates
Plan No
DOE Plan
(does not need to be
Number
reported, intended to
(If the "Plan no"
be reference to show
includes multiple DOE
that the plan
plan codes, include first
includes multiple DOE DOE plan code in series
Plan Codes within the
in Borrower Incentive
same overall plan)
Layout)
Plan Information
3.0% OLA rebate after 24
on time payments less
$250 protected amount.
ED Servicer Borrower Incentive Plans with Rebates
Page 140 of 140
Qualifying
Criteria
Other Incentive
Information
Comments
| File Type | application/pdf |
| File Title | To: |
| Author | jeff.baker |
| File Modified | 2008-12-16 |
| File Created | 2008-12-16 |