FFELP Origination Deadlines for Schools

American Student Assistance® (ASA) would like to assist our schools and borrowers in making a smooth transition to the Direct Loan program. We are therefore providing you with our schedule for the wind down of Federal Family Education Loan Program (FFELP)-related services.

We strongly encourage you to reconcile all of your FFELP loans well in advance of the below processing deadlines so that all funds expected will be disbursed on time.

New Loan Applications

New loan applications must be: 

  • In a ready-to-disburse status by the close of business on Wednesday, June 23, 2010. 
  • Have a first disbursement issued on or before Friday, June 25, 2010.
  • Be fully disbursed on or before Thursday, September 30, 2010.

A loan is ready to disburse when ASA® has received and processed the following:

  • A complete loan certification
  • A complete and valid original Master Promissory Note (MPN)
  • A credit approval (for PLUS loans)

In addition, the loan must be eligible for guaranty. Applications that do not meet all criteria will be cancelled to ensure compliance with the new legislation.

Reissues

Reissues are requests to return loan proceeds and re-disburse them at a later date because the funds could not be delivered to the student in the allotted time frame. All reissues must have a disbursement issued on or before Friday, June 25, 2010.

Reinstatements

Reinstatements are reversals of previous full or partial cancellations due to eligibility changes or other factors. All reinstatements must have a reinstated disbursement issued on or before Friday, June 25, 2010.

Reallocation

Reallocation is the act of changing the distribution of subsidized and unsubsidized Stafford loan funds in an existing combination application. Reallocations can continue to be processed after Friday, June 25, 2010, if the funds are being reallocated between existing loans—a new loan may not be created as a result of the reallocation.

Cancellations

Full and partial cancellations can continue to be processed after Friday, June 25, 2010.

For more information about loan origination deadlines, please view our list of frequently asked questions (pdf, 0.48 MB).

Forms and Publications

If you would like to place an order for any of the forms or publications below, please submit your request to onlineordering@asa.org and include your organization OE code as well as your physical mailing address. Orders will take 7–10 business days to arrive.  

  • Entrance and Exit Counseling Checklists. Keep track of everything you need to cover in your loan counseling by using ASA’s Entrance Checklist (pdf, 0.08 MB) and Exit Checklist (pdf, 0.08 MB).
  • School Certifications. Ensure you are using the latest and .
  • Student Loan MPNs. Ensure that you are using the latest , PLUS Loan MPN (pdf, 0.31 MB), and PLUS Loan Endorser Addendum (pdf, 0.22 MB).
  • Student Loan Resource Guide. Help your students successfully manage their education debt with this resource guide (pdf, 0.31 MB).