ED Releases Program Integrity Guidance
Continuing its release of guidance on the Program Integrity (PI) final regulations issued Oct. 29, 2010, ED has released two more Dear Colleague Letters (DCL), GEN-11-13 and GEN-11-14.
On July 13, 2011, ED issued GEN-11-13, which provides instruction on what information an institution and an applicant may be required to verify for the 2012-13 award year. It also provides a summary of how the verification process will be implemented for the 2012-13 award year.
On July 20, 2011, ED issued (DCL) GEN-11-14, which provides guidance - in the form of a Q&A - on the treatment of Title IV funds when a student withdraws from an institution, a process also known as Return to Title IV (R2T4).
If you have questions or would like to read additional guidance on the PI regulations, check out our PI webpage.
ED Announces 2011-2012 Stafford and PLUS Loan rates
On July 15, 2011, ED announced the Direct Loan and FFEL Interest Rates effective July 1, 2011 for both Stafford and PLUS loans. The announcement provides rates for both fixed rate (loans initiated on/after July 1, 2006) and variable rate loans (initiated between July 1, 1998 and June 30, 2006).