[ctcLinkfinaidsupport] Loan Sequestration AY 2022-2023

[Britney Corbitt]

Greetings,


Sequestration Loan Item Types (NEW FEE) AY 2022-2023



Per the Electronic Announcement from DoE released May 19, 2022, loan fee rates for loans disbursed on or after Oct. 1, 2022 and before Oct. 1, 2023 remain the same at 1.057%.  Our recommendation is to not use the New Fee Item Types for AY 2022-2023 and that the sequestration process does not need to be utilized to convert loans that have not disbursed prior to Oct. 1, 2022.



Link to the EA: https://fsapartners.ed.gov/knowledge-center/library/electronic-announcements/2022-05-19/fy-23-sequester-required-changes-title-iv-student-aid-programs

Please let us know if you have any questions.




[Compass]Britney Corbitt

Functional Analyst, Campus Solutions (Financial Aid)

Washington State Board for Community and Technical Colleges

1300 Quince Street SE

Olympia, WA 98504-2495

bcorbitt at sbctc.edu<mailto:bcorbitt at sbctc.edu> • o: 360-704-1841

sbctc.edu<https://www.sbctc.edu/> • Twitter: @SBCTCWashington<https://twitter.com/SBCTCWashington> • Facebook: @WASBCTC<https://www.facebook.com/wasbctc/>



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