Update: Open LMS Statement on the DOE’s February Update on Requirements and Responsibilities for Third-Party Servicers and Institutions

Dear Open LMS Customers,

Our discussions with the DOE continue as we pursue clarification and a possible exemption for LMS providers from the Third-Party Servicers (TPS) requirements.

The DOE has recently provided an updated blog post, and our friend Phil Hill has summarized the impact in his post “ED Promises To Revise The TPS Expansion In A Blog Post”. My key takeaways from both the DOE’s blog post and Phil’s article are that the program definition is still very much in flux, and that the date for enforcement has been pushed out at least six months.

In the meantime, we’re working with our product partners to ensure they have US-based entities and addresses to comply with any future rulings and to ensure you have a trouble free experience with our full portfolio or products.

We will keep you updated on any developments in our ongoing discussion with the DOE.

Update: Open LMS Statement on the DOE’s February Update on Requirements and Responsibilities for Third-Party Servicers and Institutions

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