The Common Manual Governing Board, of which the New York Higher Education Services Corporation (HESC) is one of 36 participants, has recently approved several policies in batches #158 and #159 to modify the Common Manual. The electronic Common Manual is linked through the HESC’s Web site and has been updated to include these changes. Please pay particular attention to the effective date of each policy change.
The following table includes a listing of the revised policies in batches #158 and #159 for your information. Click on “Learn More” to view the approved policies.
HESC has no specific comments or operational effects related to these policies.
Questions regarding this bulletin should be directed to the Office of Counsel & Regulatory Compliance, at (518) 473-3986, toll free at 1-866-431-HESC (1-866-431-4372) press 6, or askpolicy@hesc.org
| Policy Changes Batch #158 – Approved April 16, 2009 |
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- Annual Audit Waiver for Foreign Schools
- Transfer Students: Loan Periods, Grade Levels, and Stafford Annual Loan Limits
- Minimum Loan Periods for Certain Programs
- Transfer Students
- Transfer Students and Grade Level Increases
- Transfer to a Credit-Hour Program with Standard Terms or Nonstandard Terms That Are SE9W
- Transfer to a Clock-Hour Program, a Non-Term-Based Credit-Hour Program, or a Credit-Hour Program with Nonstandard Terms That Are Not SE9W
- Dependency Overrides
- Required Lender Disclosures before Disbursement
- Lender Disclosure before Repayment
- Required Lender Disclosures during Delinquency
- Rehabilitation of Defaulted FFELP Loans
- Consumer Credit Reporting after FFELP Loan Rehabilitation
- Teacher Loan Forgiveness
- Lender Disclosure – Consolidation Loans
- Cohort Default Rate – Extended Calculation Period
- School Cohort Default Rate Challenges
- Teach-Out Plan for Schools Placed under Limitation, Suspension, Termination, or Emergency Action
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| Policy Changes Batch #159 – Approved April 16, 2009 |
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- Academic Year Categories for the Purpose of Determining the Frequency of Stafford Annual Loan Limits
- Proration of Stafford Annual Loan Limits
- FFELP Teacher Loan Forgiveness Request
- Income-Based Repayment Option
- Expedited-Standard
- Permanent-Standard
- Standard-Standard
- Rebuttable Presumption
- Program Participation Agreement
- Ability to Benefit
- Definition of Independent Student
- Use of Professional Judgment in Certifying Unsubsidized Stafford Loans
- Pre-repayment Disclosures
- Lender Disclosures during Repayment
- Disclosure When Granting Deferments on Unsubsidized Stafford Loans
- Providing Forbearance Information to the Borrower or Endorser
- Administrative Forbearance for Repayment Plan Change
- Total and Permanent Disability Requests Based on U.S. Department of Veterans Affairs Determinations
- Eligible Not-for-Profit Holder
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