How will SFA implement the up-front interest rebate program?
In order to provide the up-front interest rebate to Direct Loan borrowers beginning this Fall without disrupting the 2000-2001 financial aid delivery process, we will implement the rebate program in two phases. The first phase will apply to the 2000-2001 program year, and the second phase will apply to the 2001-2002 program year and beyond. Phase I–2000-2001 Program Year 6. In the first phase of the up-front interest rebate program, will my school or our third-party software provider need to modify any processes or software related to 2000-2001 program year loans to ensure that our borrowers get this benefit? No. Neither you nor your third-party software provider, if you have one, will need to modify any processes or software related to 2000-2001 program year loans. Origination and disbursement software, specifications, and processes will remain the same for 2000-2001 program year loans. We do, however, encourage you to inform your borrowers of the new benefit through your corresponde
