Guaranteed Student Loan Program, Commissioner of Higher Education Financial Audit for the Fiscal Year Ended .. 2004
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In our eReader you can find the full English version of the book. Read Guaranteed Student Loan Program, Commissioner of Higher Education Financial Audit for the Fiscal Year Ended .. 2004 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Guaranteed Student Loan Program, Commissioner of Higher Education Financial Audit for the Fiscal Year Ended .. 2004
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DEFAULT AVERSION FEE The Higher Education Amendments of 1998 authorized the payment of a Default Aversion Fee beginning October 1 , 1998. Upon receipt of a completed lender request for assistance (LFIA) not earlier than the 60'^ day of delinquency, a guaranty agency must engage in default aversion activities designed to prevent a default by the borrower. Department of Education Regulations provide for payment of a fee equal to 1 % of the loan balance at the time an LF?A is submitted, regardless... of whether or not the loan is brought current. The default aversion fees are to be transferred from the Federal Student Loan Reserve Fund (FSLRF) to the Agency Operating Fund (AOF) no more frequently than monthly. If the agency receives a default aversion fee and the account later defaults, the agency must rebate 1% of the claim amount to the FSLRF. The fee may be paid only once on any loan. During fiscal year 2004, net Default Aversion Fee revenue and expense, for the AOF and FSLRF respectively, was $390,074.
What to read after Guaranteed Student Loan Program, Commissioner of Higher Education Financial Audit for the Fiscal Year Ended .. 2004?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Legislature. Legislative Audit Division to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
DEFAULT AVERSION FEE The Higher Education Amendments of 1998 authorized the payment of a Default Aversion Fee beginning October 1 , 1998. Upon receipt of a completed lender request for assistance (LFIA) not earlier than the 60'^ day of delinquency, a guaranty agency must engage in default aversion activities designed to prevent a default by the borrower. Department of Education Regulations provide for payment of a fee equal to 1 % of the loan balance at the time an LF?A is submitted, regardless... of whether or not the loan is brought current. The default aversion fees are to be transferred from the Federal Student Loan Reserve Fund (FSLRF) to the Agency Operating Fund (AOF) no more frequently than monthly. If the agency receives a default aversion fee and the account later defaults, the agency must rebate 1% of the claim amount to the FSLRF. The fee may be paid only once on any loan. During fiscal year 2004, net Default Aversion Fee revenue and expense, for the AOF and FSLRF respectively, was $390,074.
What to read after Guaranteed Student Loan Program, Commissioner of Higher Education Financial Audit for the Fiscal Year Ended .. 2004?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Legislature. Legislative Audit Division to read onlineMoreLess
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