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Kristin Boyer
TG
(512) 219-4990
(800) 252-9743, ext. 4990
kristin.boyer@tgslc.org
October 5, 2005
TG, Council for the Management of Educational Finance recognize schools for "Commitment to Student Success"
Round Rock, Texas — TG and the Council for the Management of Educational Finance have recognized four schools through the "Commitment to Student Success" awards program. California State University — Sacramento, GateWay Community College in Arizona, Texas State University — San Marcos, and The University of Texas — Pan American were selected for the exceptional programs they have in place to effectively prepare students for successful student loan repayment.
"It is particularly rewarding to review and recognize the work of these institutions, which have successfully developed innovative debt management and default prevention strategies and measures to ensure success in educational debt repayment among alumni," said Terry Bazán, co-chair of the Council and director of student assistance at Austin Community College.
To qualify for the award, each institution demonstrated its Title-IV eligibility and participation in any of the federal student loan programs, and provided evidence that it had, within the last three academic years, implemented new debt management and default aversion strategies or implemented significant improvements to existing strategies.
A team of financial aid professionals representing a cross-section of higher education institutions reviewed all applications to select the winning entries. Details about each commended institution are listed below:
California State University — Sacramento: In collaboration with its campus and industry partners, CSU's Student Financial Services Office developed a program entitled "Your Money Matters," which consists of an interactive Web site, comprehensive handbook, and presentation that gives students valuable information on wise money management.
GateWay Community College: Over the last three years, the financial aid office at GateWay Community College has undergone a complete makeover. The office restructuring resulted in a number of electronic enhancements, streamlining of processes, and cross-functional staff and student development. Although there were many challenges, the financial aid office succeeded in creating an environment that allowed the staff to dedicate more time to educating students on proper money management.
Texas State University — San Marcos: What began in 2002 as a proposal became a reality at the beginning of this year for the office of student financial aid at Texas State University — San Marcos. Earlier this year, the loan management team launched an on-line loan/debt management seminar for its students. The seminar was created to reinforce information specific to the responsibilities and consequences of borrowing, as well as debt and repayment issues. As of June 2005, more than 1,200 students have completed and benefited from the seminar.
The University of Texas — Pan American: Over the last decade, UTPA's financial aid office has actively worked with its staff and campus administrators to address proper student loan management. In 2003, UTPA enhanced its default prevention efforts by identifying its most at-risk populations and providing them with additional education on proper student loan management. For instance, freshman borrowers and delinquent borrows in repayment are provided with individualized and in-depth loan information. Having reduced its double-digit cohort default rate to a single digit has not kept UTPA from being proactive in providing its students and alumni with critical information about their educational debt.
"In particular, these honorees demonstrated the value of effective communication and partnership within and among various campus departments in order to equip students with those tools necessary for successful student loan repayment," said Sue McMillin, TG's president and CEO. "We are especially pleased to recognize these schools for their successful efforts."
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TG is a public, nonprofit corporation that helps create access to higher education for millions of families and students through its role as an administrator of the Federal Family Education Loan Program (FFELP). Its vision is to be the premier source of information, financing, and assistance to help all families and students realize their educational and career dreams. Additional information about TG can be found online at www.tgslc.org. This press release can be downloaded from www.tgslc.org/newsroom/.
