OGSLP Online News

March 5, 2009

2010 Presidential Budget Blueprint

As you may be aware, the Obama administration recently released the president's FY 2010 budget proposal, which includes recommendations related to federal student lending. It's important to note that typically, the president's proposal is a blueprint that represents a starting point for discussion and consideration.

The president’s statement endorsing the movement of all federal student lending toward the direct lending program would significantly change the landscape of the vast majority of student aid at a time when Federal Family Education Loan Program (FFELP) participants have already begun in-depth discussion and analysis of ways to enhance the program’s long-term viability. Additionally, the president’s proposal fails to explain how the value-added services provided through the FFELP – services that address critical needs including college access, default prevention and financial literacy - would be made available to students, parents and schools.

As a partner in the Oklahoma financial aid community, we'd like to share some other key points with you:

OGSLP will keep you informed as discussions continue. If you have questions, please contact Rick Edington, Director for School/Lender Services, Default Prevention & Outreach, at 405.234.4333 or redington@ogslp.org.