Ensuring Continued Access to Student Loans

Last Updated December 18, 2008

Loan Participation Purchase Program Q & A Loan Purchase Commitment Program Q & A
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News and Announcements

December 18, 2008: LOAN PURCHASE PROGRAMS ELECTRONIC ANNOUNCEMENT #42: Short Term Purchase Program - Department of Education Lender ID

December 16, 2008: LOAN PURCHASE PROGRAMS ELECTRONIC ANNOUNCEMENT #41: Correction to 2007-2008 Master Loan Sales Agreement Under the Short-Term Purchase Program

December 12, 2008: LOAN PURCHASE PROGRAMS ELECTRONIC ANNOUNCEMENT #40: Agreed Upon Procedures and Corrective Action Plan Instructions for Lenders Participating in the Loan Purchase Commitment Program for 2008-09 FFEL Loans

December 11, 2008: LOAN PURCHASE PROGRAMS ELECTRONIC ANNOUNCEMENT #39: Submission of "Bill of Sale" and Data Files for Loan Sales Under the 2007-2008 Short-Term Purchase Program

The Department of Education is committed to ensuring that every eligible student and his or her parents are able to obtain the federal student loans they need to meet educational expenses. For the upcoming academic year, an estimated 8.5 million borrowers will receive approximately $72 billion in federal student loans to help meet educational expenses for attendance at colleges, universities, and other postsecondary educational institutions.

We are also committed to designing programs that respect and support the current FFEL Program as a successful public/private partnership. For this reason, we have been closely monitoring developments in the financial markets that have had a significant impact on the ability of lenders to make FFEL Program loans.

Recently enacted legislation, the "Ensuring Continued Access to Student Loans Act of 2008" (Pub. Law 110-227) (ECASLA), provides the Department of Education with new authority to address concerns about the availability of FFEL Program loans for the upcoming academic year. Our plan is designed to provide viability in the marketplace for lenders who continue to make loans in this difficult environment.

This site provides links to information we have posted related to the passage and implementation of this legislation. Please check this page regularly for additional information.



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Last updated/reviewed December 18, 2008

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