Publication Date: July 11, 2008
Author: Jeff Baker, Director Policy Liaison and Implementation, Federal Student Aid
Summary: Release of Loan Purchase Agreements
Posted on 07-11-2008
Included as attachments to this memo are copies of the Master Participation Agreement and the Master Loan Sales Agreement (the Agreements) that must be executed by a FFELP lender/holder who wishes to participate in one or both of the Loan Purchase Programs, as appropriate. The Loan Purchase Programs were announced in a Federal Register Notice, published on July 1, 2008 [73 FR, No. 127, page 37422], that provided the terms and conditions of purchase of loans under the Ensuring Continued Access to Student Loans Act of 2008.
Note that the last exhibit in each of the Agreements is a revised form of the “Notice of Intent to Participate” that was originally provided as Appendix D to the July 1 Federal Register Notice.
However, we will continue to accept submissions that use the original format, and entities that have already submitted “Notices of Intent to Participate” using the original version need not re-submit using the revised form.
We will shortly be providing information, including document submission directions, regarding the next steps a lender who wishes to execute one or both of the agreements must take.
Thank you for your continued cooperation.