Use of Secretary's Authority to Purchase Loans
(Participation and Put Programs)
The information below is regarding the Department of Education Secretary’s Authority to Purchase Loan under Ensuring Continuing Access to Student Loans Act of 2008 (P.L. 110-227 – HR 5715). This information has been compiled to include both information and guidance provided by the Department of Education and the efforts by the FFEL community to support these programs, more commonly referred to as the Participation and Put programs.
This resource is being provided as a supplement to the Department's official resource, available at the following link: http://federalstudentaid.ed.gov/ffelp
Customer Service numbers for borrowers with Put loans:
Schools: (866) 938-4750 M-F 8:00 A.M. - 8:30 PM (ET)
Borrowers: (800) 508-1378 M-F 8:00 A.M. - 11:00 PM (ET)
Collections: (866) 938-4749 M-F 8:00 A.M. - 11:00 PM (ET)
This resource will be updated as additional information or guidance from the Department and/or FFEL community based information and tools are provided.
Please visit the other pages in this section by using the drop down link above.
ECASLA Quick Reference (Updated: 06/15/2009)
This one page reference document was prepared by the NCHELP Program Operations Committee to provide pertinent information regarding the FFEL Loan Liquidity programs.
Electronic Announcement #92: 2009-2010 Loan Purchase Program-Close Out of Post Sale Adjustments
Electronic Announcement #86:2009-2010 Loan Purchase Programs Closing Dates
Electronic Announcement #63: Loan Purchase Participation Program – Closeout Reminder
Electronic Announcement #60: The Department's Asset-Backed Commercial Paper (ABCP) Conduit Program
NCHELP ED Liquidity Programs Overview (Updated:05/26/2009)
This Power Point presentation provides a high level overview of the three ED FFEL Loan Liquidity Programs and how they are different and relate to one another.
Questions and Answers (Updated:09/22/2015)
This additional document provides recommended questions and answers regarding the programs in an effort to standardize responses from the members of our community and to highlight the proactive and positive efforts by the community to support the programs.
Customer Experience - Put Program (Updated:05/26/2009)
This Power Point presentation anticipates the impacts these programs may have on students, their families and schools, and the steps available to the community to ensure it will be a positive experience.
Key Messages (Updated:01/22/2009)
This additional documentation in support of the Borrower Experience presentation, provides key messages in support of the community efforts to provide a positive customer experience.
Questions Regarding the Short Term Purchase Program
This document is a summary of the questions and answers discussed with the Department of Education (ED) in a conference call on January 15, 2009 with representatives from the Consumer Bankers Association (CBA), Education Finance Council (EFC), the National Council of Higher Education Programs, and the Student Loan Servicing Alliance (SLSA). It includes two subsections that cover outstanding questions regarding the "Short Term” purchase program (eligible loans from year 07-08) as well as questions regarding the FFEL Loan Liquidity programs in general.