USA Funds® invites you to this two-day training experience that provides an intensive nuts-and-bolts overview of student loans from a lender's perspective. This training is geared to professionals who are new to education lending or who want a refresher of the basics. Training will be held on June 3-4, 2009, at USA Funds Headquarters.
Location
USA Funds headquarters
Arizona Room
10475 Crosspoint Blvd
Indianapolis, IN 46256
(866) 497-USAF, Ext. 4994
Hotel Reservations
The following hotel offers USA Funds Student Loan Boot Camp participants a special rate of $70/night. Please call the appropriate telephone number below for reservations. To secure this special rate, be sure to mention “USA Funds”.
Marriott Springhill Suites
9698 Hague Road
Indianapolis, IN 46256
(866) 614-8312
Cost
USA Funds’ Student Loan Boot Camp is available at no cost to you. Travel and lodging costs are the responsibility of the individual attendee.
Attire
Dress for the workshop is business casual. Because the temperature in the conference rooms varies, you may want to bring a lightweight sweater or jacket.
Cancellations
If you are unable to attend the workshop, have a co-worker take your place. If you must cancel completely, however, please notify us by May 27, 2009.
Questions
If you have questions about the Summer 2009 Student Loan Boot Camp, contact USA Funds University at (866) 497-USAF, Ext. 4994.
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Wednesday, June 3, 2009
(agenda subject to change) |
| 8:00 a.m. |
Registration and continental breakfast. |
| 8:30 a.m. |
Welcome and introductions.
Financial aid overview. Learn about the Free Application for Federal Student Aid and the financial aid application process, how financial need is determined and how schools "package" financial aid awards, including student loans.
FFELP overview. Get information on eligibility criteria, as well as interest rates and fees for Federal Stafford, PLUS and Consolidation loans.
Federal interest benefits and special allowance. Review a lender’s responsibility to file LaRS reports with the Department of Education.
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| Noon |
Lunch.
|
| 1:00 p.m. |
Program reviews. Hear an overview of the program reviews that guarantors perform on schools, lenders and collection agencies. This overview also will discuss the functions of the guarantor’s Investigations unit.
MPN/guarantee processing. Follow the flow of processing student loan applications with the Master Promissory Note. Requirements for the MPN also will be discussed. Learn about the responsibilities of the borrower, school and lender in the federal student loan process and the resources available to simplify the process for all participants.
Loan disbursements. Examine regulatory requirements for disbursing and returning funds. Requirements specific to USA Funds and processes such as loan increases and decreases, and Return of Title IV Funds are covered.
Guarantor account maintenance. Become familiar with the various status changes a lender must report to the guarantor and the ways to send and receive status-change information.
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| 4:45 p.m. |
Adjourn.
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|
Thursday, June 4, 2009
(agenda subject to change) |
| 8:00 a.m. |
Registration and continental breakfast. |
| 8:30 a.m. |
Conversion to repayment. Take a look at the latest requirements for converting Federal Stafford and PLUS loans to repayment from an in-school, grace or deferment status.
Repayment options. Understand the options available to borrowers for repaying their federal student loans and which options must be offered to borrowers prior to repayment.
Deferment and forbearance options. Review the deferment and forbearance options available to borrowers with Federal Stafford, PLUS or Consolidation loans, as well as eligibility requirements borrowers must meet.
Due diligence. Hear and overview of specific collection activities on delinquent loans.
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| 11:30 a.m. |
Lunch.
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| 12:30 p.m. |
Legislative and regulatory update. Receive an update on the recent changes to the FFELP, including federal student aid policies and procedures.
Default prevention. Learn more about the Default Aversion Assistance Request form and the default prevention reports available to schools and lenders.
Claim filing and common-claim filing. Discuss current claim procedures and review Common Claim procedures for preclaim, claim and supplemental-claim filing.
Post claim and recovery. Examine the process for collecting defaulted loans, including reinstating a loan and reversing a default.
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| 3:45 p.m. |
Adjourn. |
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