Alert July 15, 2008

Department of Education Issues Terms and Conditions of Student Loan Purchase Plans

The Department of Education published terms and conditions governing two new loan purchasing programs. The programs provide lenders that have entered into a master sales agreement with the Department with the opportunity to sell their student loans or participation interests in the loans to the Department. The terms and conditions were effective on July 1st. Click here for the Federal Register notice which includes the terms and conditions.