OCAP Legislative Update


Changes to Student Loans Beginning July 1, 2012

On Feb. 23, the U.S. Department of Education (ED) published a Dear Colleague Letter (DCL) regarding the scheduled interest rate increase from the current 3.4 percent to 6.8 percent beginning July 1. The DCL also addresses eligibility of dependent students to receive up to $2,000 in additional Direct Unsubsidized loan funds and the following changes made to the Direct Loan (DL) program by the Budget Control Act of 2011.


If you have questions about these changes, please contact OCAP's Policy, Compliance and Training department at 405.234.4432 or pct@ocap.org.




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