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Ray Perez
TG
(512) 219-4990
(800) 252-9743, ext. 4990
ray.perez@tgslc.org
December 13, 2007
TG, national education finance council to recognize successful efforts in student debt management
Round Rock, TX — As borrowing for college continues to increase rapidly, the challenge of helping students from defaulting on loans becomes tougher. This year, about $85 billion in federal student loans are being assumed by college students, a 43 percent increase from only five years ago.
TG and the Council for the Management of Educational Finance will again recognize institutions that have performed extraordinarily well in the areas of debt management and default prevention with the 2008 Commitment to Student Success Awards.
The 2008 awards will go to schools that have implemented strategies, which have proven effective in curbing student loan defaults over extended periods of time, beyond the minimum federal requirements. TG and the Council use the awards to highlight innovative strategies and successful programs that help students manage debt and successfully repay student loans.
"Postsecondary institutions are being challenged more and more to develop sound strategies to help students avoid defaulting on loans, in addition to managing their day-to-day operations," said Lynn Barnes, co-chair of the Council and director of special programs in the financial aid office at Texas A&M University. "These awards are a good way to recognize those schools that are developing successful programs in this area, and to encourage the sharing of those ideas that are having a positive impact on student success."
Applications will be considered from institutions that are Title-IV eligible and that are participants in any of the federal student loan programs. Financial aid professionals with a strong background in debt management will review the applications. Each applicant will be evaluated on innovation, collaboration, resources, student impact, and successful measures and results.
The deadline to submit an application is Friday, February 15, 2008. An application and more information about the awards program and the Council for the Management of Educational Finance are available at www.tgslc.org/council/.
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About TG: 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/.
