Student Aid Commission transferring loan portfolio
Wednesday, June 27, 2012 10:12 AM
The Iowa College Student Aid Commission voted yesterday to transfer its Federal Family Education Loan Program (FFELP) guarantee portfolio to the Great Lakes Higher Education Guaranty Corp.
The commission said in a release that without a change to the structure of FFELP, the commission's operating fund would have declined.
The move helps the commission preserve its $20 million operating fund and provides additional revenue. The U.S. Department of Education has approved the transfer of funds.