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NEF Message to State QZAB/QSCB Directors on Passage of the 100% Interest Reimbursement by Congress March 17, 2010 Dear State QZAB/QSCB Director, We have just been notified that U.S. Senate just approved the House-passed Jobs Bill with 100% interest reimbursement. This should eliminate LEAs paying any supplemental interest. Now, LEAs can get QZAB/QSCB funds at truly zero interest! As you know, we did fight for it in the House and Senate. Your feedback and the feedback from school superintendents were very helpful. We want to thank all of you who returned our survey on the matter. Please feel free to call me or Dr. Laurence Peters (our QZAB director and the First QZAB Program Director at the U.S. Education Department) if you have any questions. Have a great day! PS. As the principal supporter of QZAB/QSCB programs, and the primary
source of QZAB/QSCB updates and advice to the state directors and superintendents,
we periodically send out important emails to you all and school superintendents.
The Congress is very concerned that only about $50 million out of the
$2.2 billion (2007, 2008 and 2009 allocations) available for QZABs were
actually issued in 2009. So, please ask your LEAs interested in QZAB
to visit www.qzab.org or contact us. We will be glad to assist them
in any way --providing the QZAB 10% match, setting up a World-class
QZAB Academy and helping to find a bank. Incidentally, we provided the
required 10% match donation, and set up the mandated QZAB Academy for
most QZABs issued nationally in 2009. Dr. Appu Kuttan |
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