To assure that your Common Manual remains current, please record this document on your LPM/LPB index, and retain it in Appendix E of your manual.

The nation’s guarantors provide the following summaries to inform schools, lenders, and servicers of the latest Common Manual policy changes. These changes will appear in the manual’s next annual update in July 2005. These changes will also be incorporated into the September 2004 Integrated Common Manual. The Integrated Common Manual is available on several guarantor websites, and it is also available on NCHELP’s website at www.NCHELP.org in the e-library. Please carefully note the effective date of each policy change.

Student Enrollment Status Reporting
The Common Manual has been updated to provide consistency with the NSLDS Enrollment Reporting Guide, which requires a school to report enrollment information whenever the enrollment status changes for an individual student. Changes that must be reported include any change that the school is required to report through enrollment reporting, previously called the Student Status Confirmation Report (SSCR). Examples of enrollment changes that a school is required to report include a change from full-time to half-time status, half-time to less than half-time status, a withdrawal, a graduation, or an approved leave of absence that complies with Title IV requirements. If a student's enrollment status changes and the school does not expect its NSLDS enrollment reporting to be completed within the next 60 days, the school must submit an ad hoc report within 30 days.

Reinstatement of Title IV Eligibility
The Common Manual has been revised to state that a borrower with one or more defaulted Title IV loans, or defaulted Title IV loans for which a judgment has been obtained, who wants his or her Title IV eligibility reinstated must request reinstatement from the holder of each defaulted loan or from the holder of each defaulted loan from which a judgment has been obtained.

Due Diligence Requirements for Loans with Monthly Repayment Obligations and with Repayment Obligations Less Frequent than Monthly
Footnote 3 in Figure 11-1, Due Diligence Requirements for Loans with Monthly Repayment Obligations and with Repayment Obligations Less Frequent than Monthly, addressed only loans with monthly repayment obligations. The footnote has been revised to reflect the fact that the timing of the collection activities must ensure that no gaps of greater than 45 days occur through the 330th day of delinquency for loans with repayment obligations less frequent than monthly.

Due Diligence with a Rolling Delinquency or Special Occurrence for Loans with Repayment Obligations Less Frequent than Monthly
Figure 11-3 addresses due diligence requirements for loans with repayment obligations less frequent than monthly. Footnote 1 of the figure previously referenced day 270 as the default date for these loans. Footnote 1 has been corrected to state that the timing of the collection activities must ensure that no gaps of greater than 45 days occur through the 330th day of delinquency.