**LOAN PURCHASE PROGRAMS ELECTRONIC ANNOUNCEMENT #15**

Date: August 7, 2008 (Updated September 19, 2008)

To: FFEL Program Community

From: Larry Warder, Acting Chief Operating Officer

Federal Student Aid

Subject: Monthly Rolling Forecast Reporting Process for Loan
Participation Purchase Program

In Electronic Announcement #12 posted on August 1, 2008, we attached
copies of the Funding Request Document Instructions for FFEL lenders who
wish to participate in one or both of the Loan Purchase Programs that
were announced in a *Federal Register* Notice, published on July 1, 2008
\[73 FR, No. 127, page 37422\].

The August 1, 2008 announcement also stated that we would provide
information regarding the procedures for submitting the Monthly Rolling
Forecast. The attachment to this announcement provides information for
the preparation and submission of the Monthly Rolling Forecast (Updated
September 19, 2008).

We have scheduled a Webinar for Friday, August 8, 2008, at 2:00 PM
Eastern Time, where we will review the document submission requirements
of the Sponsor's Monthly Rolling Forecast of Loans Going into the
Participation Facility. Please see Electronic Announcement #11 that was
posted to [www.federalstudentaid.ed.gov/ffelp]{.underline} on August
1, 2008, for registration information.

Thank you for your continued support of these FFEL Loan Purchase
Programs.

**United States Department of Education**

**Federal Family Education Loan Program**

**Loan Participation Program under a**

**Master Participation Agreement**

**[Submission Instructions for:]{.smallcaps}**

**[Sponsor's Monthly Rolling Forecast of]{.smallcaps}**

**[Loans Designated for the Loan Participation Purchase
Program]{.smallcaps}**

**[September 19, 2008]{.smallcaps}**

This document provides information and guidance to FFEL lenders
("Sponsors") who have submitted an Adoption Agreement (Exhibit A of the
Master Participation Agreement) and supporting documents to the U.S.
Department of Education ("the Department") for the purpose of
participating in the Loan Participation Purchase Program.

**[[General Instructions]{.underline}]{.smallcaps}**

The procedures below relate to the submission by a Sponsor of its
Monthly Rolling Forecast of loans estimated to be submitted into the
Loan Participation Purchase Program ("Monthly Rolling Forecast").

-   All files must be in Microsoft Excel 97 - 2000 format.

-   [Information for every month a Sponsor has eligible loans for the
    Program as determined by the date of the Sponsor's submission of the
    Notice of Intent must be supplied with each submission.]{.mark} This
    requires changing forecasted amounts to actual amounts as each month
    passes. For example:

    -   An initial Monthly Rolling Forecast that is submitted in
        September 2008 should include actual data for May, June, July
        and August 2008, [if permitted by the date the Sponsor had
        submitted its Notice of Intent,]{.mark} as well as forecasted
        data for September 2008 through September 2009.

    -   Future monthly submissions should include actual historical
        information and forecasted information. For example, a Monthly
        Rolling Forecast with a month end date of September 30, 2008,
        should include actual data for May, June, July, August and
        September 2008, [as applicable,]{.mark} (fill with zeros if no
        activity for a month), and forecasted data for October 2008
        through September 2009.

    -   Please use this [downloadable Excel
        file](http://www.federalstudentaid.ed.gov/ffelp/library/MonthlyRollingForecast09192008.xls)
        and do not delete months previously reported or add months
        beyond September 2009.

**[[Definitions for the Sponsor's Monthly Rolling
Forecast]{.underline}]{.smallcaps}**

The Monthly Rolling Forecast consists of data on loan type and status
category for the period beginning with May 2008, as applicable, and
ending with September 2009. The expected dollar amount and number of
loans will be reported by month for each type and category. See the
attached Microsoft Excel spreadsheet template for the required format.

**[As Of Date:]{.mark}**

[The last calendar day of the month.]{.mark}

**Loan Type:**

As defined in the Master Participation Agreement, only Stafford and PLUS
loans are eligible for participation. For the purposes of the Monthly
Rolling Forecast, these are separated into five categories:

-   Subsidized Stafford Loans for Undergraduate students

-   Subsidized Stafford Loans for Graduate students

-   Unsubsidized Stafford Loans (Undergraduate and Graduate)

-   PLUS/Parent Loans made for Undergraduate Students

-   PLUS/Graduate Loans

**Status Category:**

For each of these loan types, the dollar amount and number of loans will
be reported in the following categories:

-   [Originations]{.underline}: The total amount and number of loans
    that are expected to be originated in the month. The amount should
    be the amount provided on the certification received from the
    school.

-   [Disbursement]{.underline}: The total gross dollar amount and number
    of disbursements which are expected that month. This is the amount
    of cash disbursed to the student. Disbursement information can be
    reported in this column and in the "Originations" column for the
    same month. [This disbursement amount should not be adjusted for
    cancellations.]{.mark}

-   [Loans Redeemed]{.underline}: This is the total principal amount and
    number of loans that are expected to be redeemed, either through a
    repurchase of the loans from the Department, or loans that are put
    to the Department, from the Participation Program in that month.

-   [Loans Put]{.underline}: The total principal amount and number of
    loans that are expected to be put to the Department in that month.
    This column is a subset of the Loans Redeemed column above.

**[[Submission Instructions for the Sponsor's Monthly Rolling
Forecast]{.underline}]{.smallcaps}**

Each month, on the seventh business day after month end, the Sponsor
submits the Sponsor's Monthly Rolling Forecast. To submit the document
to the Department attach it as a Microsoft Excel 97 - 2000 file to an
email and send to the following FSA web email address: *fsa_lr@ed.gov*.
Please include your contact information in the body of the email in the
event we have questions.

> In the "Subject" line of the email, please write the following:
> Monthly Rolling Forecast-\<Sponsor Name\>-\<[Custodian
> ID]{.mark}\>-\<As of Date of the Forecast\>.
>
> The Microsoft Excel 97 - 2000 file should be titled: Monthly Rolling
> Forecast-\<Sponsor Name\>-\<[Custodian ID]{.mark}\>-\<As of Date of
> the Forecast\>

-   Sponsor Name: The legal name of the Sponsor.

-   [Custodian ID]{.mark}: The [Custodian]{.mark} LID/RID as assigned by
    the Department.

-   Date Format: MMDDYY Example: 083108 (August 31, 2008)