NAICU - NAICU Continues to Assist Members in Direct Loan Conversion

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NAICU Continues to Assist Members in Direct Loan Conversion

NAICU Washington Update

March 9, 2010

Although the fate of the student aid reform bill, is yet to be determined, NAICU continues to help its member college prepare for a conversion to an all Direct Loans scenario, in anticipation of a possible federal mandate. Congressional leaders have repeatedly stated that if legislation eliminates the FFELP program even in the coming months, the conversion will still be effective July 1, 2010, so as not to lose a year of savings.

NAICU has been working with Department of Education staff managing the change to ensure that all colleges needing assistance - especially those with few financial aid staff - get the help they need to both maintain current operations and prepare for a possible change-over.

Some NAICU member colleges have yet to begin the preliminary steps necessary to provide Direct Loans to their students if the program becomes the law of the land this summer. NAICU urges those that have not yet taken the initial steps to do so - even if they don't plan to convert unless mandated by law. Many of these preparatory steps don't require a commitment to Direct Loans, but will ensure a smoother conversion if required.

Colleges seeking assistance can contact NAICU, and we will facilitate direct contact with the Department staff who can help them with the process.

Contact

Maureen Budetti
maureen@naicu.edu