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College Assist Federal Default Fee Policy Change
Effective for new loans guaranteed on or after December 31, 2009, College Assist will no longer subsidize any portion of the 1 percent federal default fee. College Assist will continue to honor the 50% waiver on any subsequent disbursement of an existing loan. This has been a difficult decision for College Assist to make given our history in helping families finance higher education goals.
Because of the changes in the financing of Federal Family Education Loan Program loans, we no longer can sustain this policy. We appreciate your business and we will continue to provide superior customer service to students, parents, and schools.
If you have any questions, please contact your College Assist representative.
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