03/08/2007
(original message posted via email)

OGSLP NewsFlash - ED Announces Revised Promissory Note Addendum and PLD

ED Announces Revised Promissory Note Addendum and PLD for Federal Stafford Loans
In DCL FP-07-02, ED provides a revised Promissory Note Addendum and Plain Language Disclosure (PLD) that must be used for Stafford loans. The revised documents include the changes made to annual loan limits by the Higher Education Reconciliation Act of 2005 (HERA).

Until a revised Stafford MPN is developed and approved for use, the revised documents must be used with the current Stafford MPN to inform borrowers of the changes made to the terms of their loans by HERA. Program participants are advised to discontinue use of the current addendum and PLD and to begin using the revised addendum and PLD as soon as possible.

Note: There have been no changes to the Addendum to the Federal PLUS Loan Application and Master Promissory Note and Endorser Addendum, the Federal PLUS Loan Plain Language Disclosure, or the Addendum to the Federal Consolidation Loan Application and Promissory Note.

The revised forms can be found in FP-07-02, which also includes implementation and reproduction instructions. You can also find the revised forms on OGSLP's Web site at www.ogslp.org/publications/index.shtml.

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