The U.S. Department of Education (ED) issued DCL FP-09-04 on April 24, 2009, which provides guidance on implementing the approved FFEL Stafford and PLUS MPN’s, along with their corresponding revised Promissory Note Addenda and Plain Language Disclosures.

The above documents were updated to reflect statutory changes to the terms and conditions of the Stafford and PLUS programs made by the Higher Education Reconciliation Act of 2005, the College Cost Reduction and Access Act of 2007, the Ensuring Continued Access to Student Loans Act of 2008, and the Higher Education Opportunity Act of 2008, as well as changes made by final regulations issued on November 1, 2007 and October 23, 2008.

Program participants may begin using the revised Stafford MPN, Stafford School Certification, PLUS MPN, PLUS Endorser Addendum, and PLUS School Certification immediately. Beginning October 1, 2009 only the new forms may be provided to borrowers.

The use of the current Stafford and PLUS addenda and Plain Language Disclosures must discontinue and program participants should begin using the revised addenda and Plain Language Disclosures as outlined in the DCL.

HESC will be updating our Web screens to incorporate the changes above.

Please direct questions regarding this announcement of the Office of Regulatory Compliance at 1-518-473-3986; toll free at 1-866-431-HESC (1-866-431-4372), press 6; or by email at askpolicy@hesc.org

Posted: 4/29/09