Congress is still debating the future of the federally guaranteed student loan program, known as the Federal Family Education Loan Program (FFELP). The current legislation, House Resolution 3221, was passed on September 17, 2009 and would move all loan originations to Direct Loans, allowing for servicing by non-profits, like NMSL in New Mexico.

HR 3221 would provide College Access and Completion Innovation funds, a program that NMSL could submit an application for and receive funds to continue outreach services focusing on college access and financial aid awareness throughout New Mexico.  The resolution also contains provisions for revamping the Perkins loan program, making some of the Pell Grant funding mandatory, simplifying the Free Application for Federal Student Aid (FAFSA), and funding for Community Colleges.

The Senate bill has not been completed. NMSL provides services that are vital to New Mexico students and families. We thank all of our supporters who have written letters of support and signed our petition throughout the past year. 

To read House Resolution 3221 in its entirety, please
CLICK HERE