Common Manual Interim Policy Updates

    As you are aware, the Common Manual Governing Board periodically approves modifications to the Common Manual.  Recently, several policies were approved to modify the Common Manual.  These changes will be incorporated into the Common Manual when the next annual update is published in July 2003.

    Attached are interim updates to the Common Manual which address policy revisions approved on July 18, 2002.  Pay particular attention to the effective dates for these interim policy updates.

    Any questions related to the attached Common Manual interim policy updates should be directed to the UHEAA Policy and Training Department at (801) 321-7166 or by e-mail at mjohnson@utahsbr.edu.

Attachment

The nation's guarantors provide the following summaries to inform schools, lenders, and servicers of the latest Common Manual policy changes.  These changes will appear in the manual's next annual update in  2003.  However, these changes are effective before the next update is scheduled to be delivered.
 

Delivery Restrictions
The Common Manual has been updated to remove the prescriptive process for confirming borrower eligibility.  The revised policy clarifies that a school may deliver the proceeds of any loan disbursement only if it determines that the student has maintained continuous eligibility for the loan period certified by the school.
 

Affected Sections:	6.3.E
Effective Date:	July 1, 2001.
Basis:	§668.164(b); §682.604(b)(2)(i)-as published in Part V of the Federal Register dated November 1, 2000, pages 65615 - 65622.
Policy Information:	608/Batch 94
Guarantor Comments:	None.

 

CommonLine Network
The Common Manual has been revised to reflect that all guarantors accept electronic data transmission in the CommonLine format and to provide updated information on the steps in the CommonLine process.  In addition, revised policy adds a definition of "File Transfer Protocol (FTP)" to the glossary.
 

Affected Sections:	5.8.F, appendix G
Effective Date:	Acceptance of the CommonLine format is retroactive to the implementation of the Common Manual.  The steps in the CommonLine process were effective on or after September 30, 1998.
Basis:	None.
Policy Information:	609/Batch 94
Guarantor Comments:	None.

 

Delayed Delivery Requirements
The Common Manual has been updated to align text in subsection 6.3.E, 6.3.I, and appendix G with text in subsection 6.3.H that states that the first disbursement of a Stafford loan subject to the delayed delivery requirement may not be made until the student completes the first 30 days of his or her program of study.
 

Affected Sections:	6.3.E,  6.3.I, appendix G
Effective Date:	Retroactive to the implementation of the Common Manual.
Basis:	None.
Policy Information:	610/Batch 94
Guarantor Comments:	None.