The Common Manual has been updated to incorporate changes recently approved by the Common Manual Governing Board.
The Common Manual provides a single, standardized set of current student loan rules and Federal Family Education Loan Program (FFELP) policy guidance. It is available in two formats. The Integrated Common Manual is updated quarterly with policies approved by the Governing Board the previous quarter, while the Electronic Common Manual is released annually. Both formats are available to download from our Common Manual page or via the Common Manual website.
The changes, noted below by subject and section, will be incorporated into the next update of the Common Manual and the Integrated Common Manual. Contact Great Lakes Client Services if you have questions regarding these policy changes.
|Subject||Common Manual Section|
|HEROES Act Waivers||
H.4.B HEROES Act Waivers
The Department has announced another extension of the HEROES Act waivers and modifications, and added updates to align the waivers and modifications with statutory and regulatory changes since the last extension. The Department has also clarified certain terms from the Act. Except for the extension of the HEROES waivers, there are no changes to the waivers and modifications for existing FFELP borrowers and loans. Effective September 29, 2017.
H.4.D Disaster Waivers
Revisions to Subsection H.4.D will add guidance related to federally declared major disasters issued by the Department in 2017. Effective August 29, 2017.