Guaranteed Student Loan Program, Commissioner of Higher Education Financial Audit for the Fiscal Year Ended .. 2006 Nov

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Guaranteed Student Loan Program, Commissioner of Higher Education Financial Audit for the Fiscal Year Ended .. 2006 Nov
Montana. Legislature. Legislative Audit Division
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The agency then seeks reimbursement from the DE in accordance with reinsurance agreements between the agency and DE. Claim payments and subsequent reinsurance payments are paid from and deposited into the Federal Student Loan Reserve Fund. MGSLP's claims for reinsurance payments not received as of June 30, 2006, are included here.
In addition, the receivable Due From Federal Government includes amounts MGSLP had not yet received for Loan Processing and Issuance Fees (Note 9) for the last quarte
...r of fiscal year 2006. The extent of the outstanding reinsurance activity and other pending reimbursements from DE as of June 30, 2006, is shown below.
Reinsurance Claims $3,168,552 Federal Student Loan Reserve Fund Teacher Loan Forgiveness $17,964 Agency Operating Fund Loan Processing and Issuance Fee 32,372 Agency Operating Fund Total Due From Federal $3.218.888 Government 4. LONG TERM INVESTMENTS MGSLP maintains an account with the Montana Family Education Savings Program (MFESP) for funds held in trust for recipients of MGSLP's essay scholarship contest.


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