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FFELP |
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Now financial aid offices can receive financial aid data electronically from the Federal Central Processing System (CPS), correct and retransmit data to CPS, receive National Student Loan Data System data, manage Pell Grants, and process FFELP and FDLP loans--all with Oracle's Student System--Financial Aid. The proceeds of the Series 2007 Bonds are being used to acquire FFELP student loans, make a deposit to the reserve fund, and pay issuance costs. The bill is intended to make changes to the Federal Family Education Loan Program (FFELP) for both subsidized Stafford borrowers and FFELP loan holders by reducing borrower's interest rates for subsidized Stafford loans over the next five years from the current fixed rate of 6. |
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