Have You Heard?

Informed Borrower Tool, Renamed

The 2019 FSA Training Conference First Posting of Unanswered Open Forum Questions published last week indicating that the Informed Borrower Tool scheduled to be available for 2020-21 Direct Loan award year has been renamed Annual Student Loan Acknowledgement (ASLA).

The ASLA is set to be available to student and parent borrowers in April 2020. This tool is designed to assist borrowers to better understand their financial responsibility and cumulative loan amounts at the beginning of each award year starting with 2020-21.

We expect to see an official notification on the name change in the future; however, our goal is to keep you up-to-date at the earliest notice.