April 24, 2008
Industry Update: Lender of Last Resort Contingency Plans and Market Liquidity
As you know, there’s been an influx of articles and discussions about the need to reestablish the Lender of Last Resort (LLR) procedures to ensure continued access to student loans through the Federal Family Education Loan (FFEL) program. The potential need for such a program could be amplified as some lenders are choosing to at least temporarily suspend student loan lending due to the combination of cuts from last year’s College Cost Reduction & Access Act (CCRAA) and current credit market challenges. Rest assured that the FFEL community is hard at work on a variety of fronts to advocate for solutions to both issues.
New Brochures Available for OGSLP Customers
OGSLP is proud to announce that our recently redesigned Guide to Repaying Stafford and Grad PLUS Student Loans and a new brochure, Stafford Loan Forgiveness Program for Teachers, are now available!
Federal PLUS Loan MPN Extension
The Office of Management and Budget (OMB) approved the use of the Federal PLUS Loan Application and Master Promissory Note (MPN) until a new form is available. The current Federal PLUS MPN has an expiration date of March 31, 2008. Until OMB approves the new form, OGSLP’s school and lender customers may continue to use the current form. OGSLP will provide an update when the new form is available.
Yes ... Your Money Matters!
From budgeting to consumer credit to loan management, students need to know their money matters. Oklahoma Money Matters (OKMM) and the Oklahoma Lender Advisory Council (OLAC) are proud to offer the joint publication, Your Money Matters: A Guide to Your Personal Finances.
Making Work "Work": Resources for Busy Professionals
Escaping Death by Paper
Are you drowning in paper? Even though the computer-run offices of today are supposed to be “paperless,” the truth is, we’re printing out and making more copies than ever before. All that paper is adding to the age-old problem of keeping things organized. Here are a few tips from the “Get More Done” Web site to keep papers from overtaking your office.
- Set aside a block of time daily to manage your paperwork. Then stick to what you’ve scheduled.
- Manage your paperwork no more than two times per day.
- Handle each piece of paper only once, if possible. Avoid putting papers aside until “later,” which might really be “never.”
- Throw away early drafts. You won’t need them, and extra versions could be confusing later.
- Try to limit the majority of your correspondence to one page.
- Once you pick up a document from your inbox, force yourself to do something with it so you’re not tempted to throw it back in the pile if it’s something difficult or distasteful to deal with.
- Instead of sending a memo, consider making phone calls instead.