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Microcap & Penny Stocks : TASA. Can someone with KNOWLEDGE help!!!! -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Kirwin who wrote (384)	4/25/1998 10:40:00 AM
From: Bret P	Read Replies (3) \| Respond to of 601

I spoke briefly with an individual at the DOE. I attempted to gain a little insight about the mechanics and policy relating to default rates and consequences. Regarding Ms. Kaplan's comment about Mr. Dutton's response to her e-mail- <<< She writes I think that Mr. Dutton is in error when he indicates that "Drake,on change of control, will temporarily not receive federal student loan fundings." During this period of time, Drake will also lose Pell Grants. TASA has not indicated when it plans to file an 8Ka or provide additional details. Mr. Dutton also states "Upon approval, the funding due during that period would be paid" which is somewhat misleading. If students drop out during that period of time, I think that there might be a loss of student loan receipts. >>> This issue of "losing funds" can be easily misconstrued as something it is not. Title IV info is public but somewhat complex. Point- the funds are "withheld" until the change of ownership is finalized and approved, they are not "lost". Also, if a student should "drop out" during the transition, those funds for that particular student may be lost. This, IMHO is an insubstantial issue, and minor in its impact upon revenue streams. I do appreciate Ms. Kaplan's input. It seems she has an understanding of a system that is foreign to most of us. It is however all too easy to mislead (whether intentional or not) when such esoterica are discussed in a public forum. I believe TASA is aware of what they are doing. Drake Bus. Sch. has been in business for quite a while as well. I look forward to more comments from Ms. Kaplan, her special knowledge can be of value to further understanding of the Drake acquisition as it nears completion. Kind regards to all, Bret P