What’s in a PPP loan application?
The National Collegiate Athletic Association (NCAA) announced on Thursday it will no longer require the use of a PPL or FHA loan application.
The decision follows a petition that was filed by the student loan forgiveness program, Student Loan Forgiveness, which has been working for more than a year to get the NCAA to stop requiring the PPL and FHA.
In response, a petition was filed with the NCAA on Thursday, requesting the school’s accrediting agency, the Commission on Colleges and Universities (CCUS), to reject the petition.
The petition, which was addressed to the NCAA and was submitted by Student LoanForgiveness.org, argues that the use “is contrary to NCAA’s own policies and practices and the NCAA’s core values.”
The petition states that it is “regrettable that the NCAA continues to require students to use a PPO or FHSA application as an alternative to the traditional PPL/FHA application,” and that “students should not have to use such a lengthy application in order to access their student loan forgiven loan.”
“As a result of the NCAA accreditor’s decision, the student loans of more than 40,000 students will no long be eligible for repayment,” the petition states.
“We applaud the NCAA for making the decision to rescind this archaic and unnecessary requirement.
We look forward to the opportunity to make it happen again, as student loan borrowers can use the PPO/FHSA as an option to get their student loans forgiven.”
If the petition is approved, the petition will be sent to the CCUS for review, but CCUS will not take any action on the petition until further notice.
According to the petition, the NCAA has “decided to stop using PPLs and FHs as an alternate application method, but this does not mean that the current PPL will be eliminated.
PPL is the current application method that we use, and will continue to be the most common application method for student loans.”
There are other changes that will impact the student debt forgiveness program as well.
The NCAA’s decision does not affect the accreditors’ decision on the loan forgiveness application process for new and existing student loan applicants, the program’s accreditation body, the National Association of Collegiate Administrators (NCA), said in a statement.
As for the PPP, the accreditation bodies for the major institutions of higher education said in their statement: “While the NCAA is committed to allowing students to obtain a student loan in a manner that is most convenient and convenient for them, it is also important that student loan servicers ensure that they are in compliance with the guidelines for student loan repayments.”
It also noted that the National Collegian has been a supporter of student loan relief efforts and will be following up with the accrediters to ensure the program is in compliance.
For more information on the student forgiveness program click here.
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