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Mapping Your Future Newsletter: Tip of the Week

Mapping Your Future

Tip of the Week

January 15, 2020

Form opinions

If you love filling out forms (and who doesn’t, right?), then you need to check out the latest Electronic Announcements from the Department of Education.

Okay, the words “love” and “forms” probably don’t appear often in the same sentence, but nonetheless, the new forms issued recently do help both students and institutions.

In the first January 10 Electronic Announcement, the Department of Education announced the renewal of the Private Education Loan Applicant Self-Certification from for use by institutions and private education loan lenders. This new form, effective until 8/31/2022, replaces the self-certification form that expired on July 31, 2019. Although the old form has expired, it can continue to be used until Feb. 29, 2020.

The second January 10 Electronic Announcement provides information on the renewal of the Servicemembers Civil Relief Act (SCRA): Interest Rate Limitation Request form. The form enables Servicemembers to request that for eligible Direct Loans and FFEL Program loans that the loan holder limit the interest rate charged on those loans to 6 percent during qualifying military service. The new form is good until December 31, 2021, but the old form may continue to be used until April 1, 2020.

Treasure these forms. Not only do they serve a good purpose, but the days of filling out forms are probably numbered. If my phone knows when I am thinking about ordering a pizza and sends me a coupon, then certainly there will be a day in the future when artificial intelligence will predict when we need to use these forms and fill them out for us.

And then, maybe (okay, just maybe) we might truly miss those days when we filled out forms on our own.

 

 

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Mapping Your Future®, Inc.
P.O. Box 2578, Sugar Land, TX 77487
(800) 374-4072