News
What's New - Common Manual - March 2009 Adopted Proposals
Common Manual News
Category: General
On March 19, 2009, the Common Manual Governing Board approved thirteen proposals to modify the Common Manual. The changes made in the proposals will be incorporated into the Common Manual with the publication of the next update in 2009. These proposals modify the following sections of the manual:
Entrance Counseling
Section 4.4.C - Entrance Counseling
Section 4.4.C - Entrance Counseling
Exit Counseling
Section 4.4.D - Exit Counseling
Section 4.4.D - Exit Counseling
Grade Level Changes and Increases in the Stafford Annual Loan Limit
Section 6.10 - Determining the Student's Grade Level
Section 6.11.A - Stafford Annual Loan Limits
Appendix G
Section 6.10 - Determining the Student's Grade Level
Section 6.11.A - Stafford Annual Loan Limits
Appendix G
Increased Loan Limits and Overawards
Section 6.11.E - Exceeding Loan Limits
Section 6.11.E - Exceeding Loan Limits
Reduced Interest Rate for Military Service members
Section 7.4 -Establishing Stafford Loan Interest Rates
Section 7.4.B - Reduced Stafford Interest Rates
Section 7.5 - Establishing PLUS Loan and SLS Loan Interest Rates
Section 7.5.B - Reduced PLUS Interest Rates
Section 10.9.B - Reduced Interest Rates
Section 15.3.D - Calculating the Interest Rate
Section 7.4 -Establishing Stafford Loan Interest Rates
Section 7.4.B - Reduced Stafford Interest Rates
Section 7.5 - Establishing PLUS Loan and SLS Loan Interest Rates
Section 7.5.B - Reduced PLUS Interest Rates
Section 10.9.B - Reduced Interest Rates
Section 15.3.D - Calculating the Interest Rate
Timing of Lender Disclosures before Repayment
Section 10.7.A - Time Frame for Disclosure
Section 10.7.A - Time Frame for Disclosure
Economic Hardship Deferment
Section 11.4 - Economic Hardship Deferment
Section 11.4.A - Eligibility Criteria - Economic Hardship
Section 11.4.B - Deferment Documentation - Economic Hardship
Section 11.4 - Economic Hardship Deferment
Section 11.4.A - Eligibility Criteria - Economic Hardship
Section 11.4.B - Deferment Documentation - Economic Hardship
Post-Active Duty Student Deferment
Section 11.8 - Military Active Duty Student Deferment
Section 11.9 - Military Service Deferment
Section 11.10 - National Oceanic and Atmospheric Administration Corps Deferment
Section 11.11 - Parental Leave Deferment
Section 11.12 - Peace Corps Deferment
Figure 11-1 - Deferment Eligibility Chart
Section 11.8 - Military Active Duty Student Deferment
Section 11.9 - Military Service Deferment
Section 11.10 - National Oceanic and Atmospheric Administration Corps Deferment
Section 11.11 - Parental Leave Deferment
Section 11.12 - Peace Corps Deferment
Figure 11-1 - Deferment Eligibility Chart
Military Service Deferment
Section 11.9.C - Length of Deferment - Military Service
Section 11.9.C - Length of Deferment - Military Service
Mandatory Forbearance for Post-Active Duty Student Deferment
Section 11.24 - Mandatory Forbearance
Figure 11-2 - Forbearance Eligibility Chart
Section 11.24 - Mandatory Forbearance
Figure 11-2 - Forbearance Eligibility Chart
Additional Documentation Requirements for Subrogated Loans
Section 13.1.D - Claim File Documentation
Section 13.1.G - Additional Documentation as Requested by the Guarantor
Section 13.1.D - Claim File Documentation
Section 13.1.G - Additional Documentation as Requested by the Guarantor
Repayment Options on Rehabilitated Loans
Section 13.7 - Rehabilitation of Defaulted FFELP Loans
Section 13.7 - Rehabilitation of Defaulted FFELP Loans
Consolidation Eligibility
Section 15.2 - Borrower Eligibility and Underlying Loan Holder Requirements
Section 15.2 - Borrower Eligibility and Underlying Loan Holder Requirements
Copies of the bulletin language for these proposals are available from the Common Manual’s webpage at www.commonmanual.org. The bulletin language is available under the Approved Policies and the Integrated Common Manual can be found under the Common Manual heading.