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Kristina Tirloni
TG
(512) 219-4990
(800) 252-9743, ext. 4990
kristina.tirloni@tgslc.org
April 12, 2010
TG releases annual report; maintains strong position in federal student aid industry
Round Rock, TX — TG, the designated student loan guarantor for the state of Texas and one of the nation's largest guarantors, has published its Fiscal Year (FY) 2009 Annual Report. The report details information on TG's successful performance, and continued commitment to outstanding customer support during a year that saw the start of many unprecedented changes in the delivery of federal student aid. Last year, TG made total guarantees of more than $10.3 billion, representing more than 10 percent of all federal student loan funds awarded to students across the nation, and almost 80 percent of all federal student loan funds awarded in Texas.
"TG's commitment to be an advocate for higher education access has translated to helping more students and families pay for their college and career dreams," explained TG President and CEO Sue McMillin. "Our solutions to address school and student borrower needs have helped TG record higher-than-ever customer service scores even in the midst of a changing environment."
In FY 2009, TG's efforts to help student loan borrowers avoid default resulted in the prevention of more than $4.2 billion in potential student loan defaults. TG default prevention experts achieved a customer satisfaction score of 4.86 out of a possible 5 from borrowers seeking help with their student loan repayment options.
Student loan borrowers can find help with understanding education loan repayment obligations on TG's corporate website, TG Online, which provides helpful money management and default aversion tools, and information on loan repayment options.
With a 37 percent increase over FY 2008, TG's customer assistance team recorded its highest call volume in history from students and families asking about every phase in the life of a student loan. The team also operates the Texas Financial Aid Information Center, a single point of reference for financial aid information for Texas residents.
"TG has invested considerable resources to help schools and students with financial literacy training, as well as loan repayment and default prevention support," explained McMillin. "TG will continue to provide these personal services and technical solutions because we believe they are critical to the future success of any federal student loan program."
For 30 years, TG has worked to promote college access and affordability through its various programs and collaborations. TG's commitment to students and families has helped establish the corporation as one of the top guarantors in the nation, assisting more than 4 million borrowers by guaranteeing more than $71 billion in Federal Family Education Loan Program loans and is steadfast even as the country enters a new era in student financial aid.
For more information about TG and its services, please visit TG Online.
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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.
