10/30/2009

HEOA Final Rules Published

Final rules for changes to student loan provisions found in the Higher Education Opportunity Act (HEOA) were published in the Oct. 27, 2009, Oct. 28, 2009 and Oct. 29, 2009 editions of the Federal Register.

Topics addressed in the Oct. 27 Federal Register focus on institutional eligibility, the Oct. 28 Federal Register addresses institution and lender requirements relating to educational loans, and the Oct. 29 edition addresses the Perkins Loan, FFEL and W.D. Ford Direct Loan Programs.

Regulations in all three editions of the Federal Register are effective July 1, 2010. However, for regulations in the Oct. 28 and 29 editions, the Secretary has determined that lenders, guaranty agencies or servicers may, at their discretion, choose to implement some new and amended provisions as appropriate. See the “Implementation Date of These Regulations” section in the Federal Register for further information.

OGSLP will continue to keep you informed about HEOA and other legislative activity. A more comprehensive review of HEOA final regulations will be provided in the November edition of OGSLP’s Online News, and we encourage you to visit our Legislation Page often to view important updates and access more detailed information. If you have questions, please contact our Policy, Compliance and Training department at 405.234.4432 or pct@ogslp.org.

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OGSLP Communications
P.O. Box 3000
Oklahoma City, OK 73101-3000
gslcommunications@ogslp.org
www.ogslp.org