DEVELOPMENT BANK OF AMERICAN SAMOA- 

NOTICE TO ASG STUDENT LOAN BORROWERS AND GUARANTORS

All American Samoa Government (ASG) student loan borrowers who received their last student loan disbursement before December 31, 2005 and are qualified for partial repayment waivers up to 50% will only be able to obtain such waivers if they redocument their loans with DBAS by December 31, 2007.  

Parent guarantors for ASG student loans are encouraged to immediately assist your children who are ASG student loan borrowers so they can get the repayment waivers they are qualified for and avoid adverse reports to the credit bureaus and other legal action.

Another incentive to pay for your ASG student loans now rather than later is that you may be qualified for a student loan interest deduction of up to $2000 (two thousand dollars) on your next income tax return. Please contact Jason Betham, Judy Taufetee or Rick Leomiti of DBAS at 684-633-4031 to redocument your student loan or to make payment arrangements.

Student Loans Notices

NOTICE OF INTENT TO REPORT

ASG STUDENT LOANS TO CREDIT BUREAU

On April 1, 2007, DBAS will start reporting to the Equifax Credit Bureau information about American Samoa Government (ASG) student loans (disbursed 1997- March 2005) that are due but have not been repaid or in which the student borrowers and parent guarantors have not made arrangements with DBAS for repayment. ASG student loan borrowers are advised to carefully review your mailed statement and to inform Jason Betham, Judy Taufetee or Rick Leomiti at DBAS main office (phone no. 684-633-4031) if you dispute any information in your mailed statement or if you wish to make repayment arrangements for your student loan.

Attention all Borrowers from the American Samoa Government Student Loan Program

All persons who borrowed from the American Samoa Government Student Loan Program administered by the Development Bank of American Samoa and who received all of their student loans within the period 1997 - June 15 2006  are advised that DBAS and the ASG Student Financial Aid Board (SFAB) intend to implement the repayment terms of your student loans and enforce collection based on the terms of your promissory notes and loan agreements and in compliance with local statues and regulations.

All ASG student loan recipients and parents who co-signed/guaranteed student loans that were fully disbursed during the aforementioned period should please see Filomena Ruby Lefiti or Jason Betham at the DBAS main office in Pago Pago to make arrangements for repayment of your student loans. Student loan recipients who provide verification that they had completed their degree programs and had returned to work in American Samoa for at least one or more years are qualified to a partial waiver of their student loans. Student loan borrowers and parent co-signors/guarantors who voluntarily come in to the DBAS main office June 15, 2006 to September 15, 2006 to make repayment arrangements will not have their student loans referred for collection. After September 15, 2006 student loans in default will be referred for collection and legal action.

Student loan borrowers and parent co-signors/guarantors may contact the aforementioned DBAS officials at:

Development Bank of American Samoa

POB 9

Pago Pago, AS 96799

Phone: 684-633-4031

Fax: 684-633-1163

email: dbasinfo@dbas.org