12/15/2005
NCHELP Provides Update on Extensions of FFELP Forms

Thanks to Karen Lanning at NCHELP for providing the following update on three FFELP forms that are currently undergoing revisions. This update was in NCHELP’s December 8, 2005 Daily Briefing article, “Extension of FFELP Forms.”

“The Department of Education has confirmed the extension of three FFELP forms that are nearing expiration. Although the expiration date for the current FFEL Stafford MPN (OMB No. 1845-0006) is 12/31/05, the current form will remain acceptable after that date until the new form is approved. The 60-day comment period for the revised MPN has just ended and the Department will have the paperwork clearance package at OMB to begin the final 30-day comment period before the end of December.

In addition, OMB has granted a short-term extension of the Total and Permanent Disability Discharge form (1845-0065) through 03/31/06. The Department will start the clearance process for the revised form no later than early January to ensure that the package is at OMB for the final 30-day comment period before the end of March.

Finally, the current FFEL PLUS MPN (1845-0069) has an expiration date of 01/31/06. The revised form is currently in the 60-day comment period, which ends 01/27/06. Because that doesn't allow enough time to get the package to OMB to begin the 30-day comment period by the January expiration date, OMB has granted an extension of the current form through 02/28/06. (The Direct PLUS Loan MPN, 1845-0068, is on essentially the same clearance track, and OMB has also extended the DL form through the end of February.)

Discussions have also occurred between ED and the NCHELP Forms workgroup with regard to timing issues related to reauthorization and expired forms. The workgroup has informed ED/OMB that it would be an unnecessary hardship for schools, the Department and the FFELP community to have to implement revised forms due to their recent expiration and subsequently to have to implement another set of forms to accommodate reauthorization changes.”

Additionally, OGSLP would like to remind clients that the deferment forms have a new extended expiration date of February 28, 2006. This information was earlier provided in a NewsFlash on September 29, 2005. OGSLP will keep you informed regarding the status of these important forms.

 

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