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Category: General
What's New - Common Manual - April 2009 Adopted Proposals
Common Manual News
Category: General
On April 16, 2009, the Common Manual Governing Board approved sixteen 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:
FFELP Teacher Loan Forgiveness Request
Section 2.3.C - Common Forms
Section 13.9.B - Teacher Loan Forgiveness Program
Section 2.3.C - Common Forms
Section 13.9.B - Teacher Loan Forgiveness Program
Income-Based Repayment Option
Section 2.1.B - Types of Loans Available
Section 4.4.D - Exit Counseling
Section 6.14.A - Subsidized Stafford Loans
Section 7.6.B - Income-Sensitive Repayment Disclosure Requirements
Section 10.6.B - Length of Repayment Period
Section 10.6.D - Minimum Payment Requirements
Section 10.8 - Establishing a Repayment Schedule
Section 10.8.A - Standard Repayment Schedule
Section 10.8.D - Extended Repayment Schedule
Section 10.9 - Interest Charges
Section 10.10.B - Capitalization Frequency
Section 10.11.A - Applying Regular Borrower Payments
Section 10.11.B - Applying Prepayments
Section 11.21.J - Late Notification of Out-of-School Dates
Figure11-2 - Forbearance Eligibility Chart
Section 12.4.A - Due Diligence Requirements for Loans with Monthly Repayment Obligations
Section 12.4.B - Due Diligence Requirements for Loans with Repayment Obligations Less Frequent Than Monthly
Section 13.7 - Rehabilitation of Defaulted FFELP Loans
Section 13.9 - Forgiveness
Section 15.3.A - Providing Consolidation Loan Information
Section 15.5 - Repayment
Section 15.5.F - Delinquency, Claim Filing, Loan Forgiveness, and Discharge
Section 15.6 - Interest Benefits and Special Allowance
Appendix A.1.B - When Federal Interest Benefits Will Be Paid
Appendix A.2.A - Special Allowance and Excess Interest Rates
Appendix G
Section 2.1.B - Types of Loans Available
Section 4.4.D - Exit Counseling
Section 6.14.A - Subsidized Stafford Loans
Section 7.6.B - Income-Sensitive Repayment Disclosure Requirements
Section 10.6.B - Length of Repayment Period
Section 10.6.D - Minimum Payment Requirements
Section 10.8 - Establishing a Repayment Schedule
Section 10.8.A - Standard Repayment Schedule
Section 10.8.D - Extended Repayment Schedule
Section 10.9 - Interest Charges
Section 10.10.B - Capitalization Frequency
Section 10.11.A - Applying Regular Borrower Payments
Section 10.11.B - Applying Prepayments
Section 11.21.J - Late Notification of Out-of-School Dates
Figure11-2 - Forbearance Eligibility Chart
Section 12.4.A - Due Diligence Requirements for Loans with Monthly Repayment Obligations
Section 12.4.B - Due Diligence Requirements for Loans with Repayment Obligations Less Frequent Than Monthly
Section 13.7 - Rehabilitation of Defaulted FFELP Loans
Section 13.9 - Forgiveness
Section 15.3.A - Providing Consolidation Loan Information
Section 15.5 - Repayment
Section 15.5.F - Delinquency, Claim Filing, Loan Forgiveness, and Discharge
Section 15.6 - Interest Benefits and Special Allowance
Appendix A.1.B - When Federal Interest Benefits Will Be Paid
Appendix A.2.A - Special Allowance and Excess Interest Rates
Appendix G
Rebuttable Presumption
Section 3.4.C - Permitted and Prohibited Activities
Section 18.1 - Actions to Limit, Suspend, or Terminate Participation
Section 3.4.C - Permitted and Prohibited Activities
Section 18.1 - Actions to Limit, Suspend, or Terminate Participation
Program Participation Agreement (PPA)
Section 4.1.A- Establishing Eligibility
Appendix G
Section 4.1.A- Establishing Eligibility
Appendix G
Ability to Benefit
Section 5.9 - Required High School Diploma or Equivalent
Section 5.10 - Ability to Benefit Provisions
Appendix G
Section 5.9 - Required High School Diploma or Equivalent
Section 5.10 - Ability to Benefit Provisions
Appendix G
Academic Year Categories for the Purpose of Determining the Frequency of Stafford Annual Loan Limits
Section 6.1.B - Academic Year Categories
Figure 6-2 - Frequency of Stafford Annual Loan Limits
Appendix G
Section 6.1.B - Academic Year Categories
Figure 6-2 - Frequency of Stafford Annual Loan Limits
Appendix G
Independent Student Definition
Section 6.8 - Determining the Student's Dependency Status
Section 6.8 - Determining the Student's Dependency Status
Proration of Stafford Annual Loan Limits
Section 6.11.F - Prorated Loan Limits
Appendix G
Section 6.11.F - Prorated Loan Limits
Appendix G
Certifying Unsubsidized Stafford Loans
Section 6.8 - Dependency Overrides
Section 6.15.B - Stafford Loan Certification
Section 6.8 - Dependency Overrides
Section 6.15.B - Stafford Loan Certification
Pre-repayment Disclosures
Section 10.7 - Disclosing Repayment Terms
Section 10.7 - Disclosing Repayment Terms
Required Lender Disclosures During Repayment
Chapter 10 - Loan Servicing
Chapter 10 - Loan Servicing
Disclosures When Granting Deferments on Unsubsidized Stafford Loans
Section 11.1 -Authorized Deferment
Section 11.1 -Authorized Deferment
Providing Forbearance Information to the Borrower or Endorser
Section 11.20.I - Borrower Contact during Forbearance
Section 11.23 - Mandatory Administrative Forbearance
Section 11.24.B - Internship or Residency
Section 11.20.I - Borrower Contact during Forbearance
Section 11.23 - Mandatory Administrative Forbearance
Section 11.24.B - Internship or Residency
New Administrative Forbearance for Repayment Plan Change
Section 11.21 - Administrative Forbearance
Section 11.21 - Administrative Forbearance
Total and Permanent Disability Discharge Requests Based on Veterans Administration Determinations
Section 13.8.G - Total and Permanent Disability
Section 13.8.G - Total and Permanent Disability
Eligible Not-for-Profit Holder
Appendix A.2.A - Special Allowance and Excess Interest Rates
Appendix G
Appendix A.2.A - Special Allowance and Excess Interest Rates
Appendix G
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.