Loan Policy Bulletin 2008-01 (Attachment #1)

ATTACHMENT #1



Dear Student/Borrower:

Enclosed is the New York State Higher Education Services Corporation's (HESC) Lender-of-Last-Resort (LLR) Application Master Promissory Note you requested.

The application indicates that you may apply for a Federal Stafford Loan (Subsidized and Unsubsidized) or a Federal PLUS Loan.

To have your LLR Application Master Promissory Note processed, these steps should be completed by you within 45 days from the date of this letter.

1. Complete the Borrower Section of the application and sign the Master Promissory Note; keep the Borrower copy for your records.
2. Bring or send to the Financial Aid Office at your school the Lender, HESC, and School copies of the LLR Application Master Promissory Note.
3. The school will complete the School Certification Section of the LLR Application and return the Lender and HESC copies to you.
4. Send the Lender and HESC copies of the LLR Application Master Promissory Note to:

HESC
99 Washington Avenue
Albany, New York 12255
ATTENTION: Lender-of-Last-Resort Unit

IMPORTANT: Upon receipt of your completed LLR Application Master Promissory Note, HESC will contact you by telephone to conduct the pre-loan counseling with you. If we are unable to reach you, a letter will be sent to you requesting that you telephone this office within 15 days from the date of the letter to complete pre-loan counseling.

Should you have any questions about your LLR Application Master Promissory Note, please contact this office at 1-888-697-4372.