AdvanTG 2.2 Features Hold/Release

Texas Guaranteed Student Loan Corporation (TG) will release a software upgrade (version 2.2) to AdvanTG™ in July. This version features Hold and Release CommonLine Version 4 transactions that will assist customers in the implementation of Cash Management requirements. On or after July 1, 1999, a school must return Federal Family Education Loan Program funds to a lender if the school does not deliver those funds to a student or parent for a payment period within three business days following the date the school receives the funds via electronic funds transfer (EFT) or master check (see Shoptalk Edition 94).

A Hold/Release flag, which resides in the school's profile on TG's mainframe, sets a "hold" or "release" code on every disbursement that is guaranteed for the school. Every school's profile is set to a default value of "release" unless TG receives notification from the school requesting that their default flag for Hold/Release be set to "hold."

Using Hold/Release via AdvanTG™
The new Hold/Release feature in AdvanTG™ 2.2 provides the schools with the ability to make adjustments to the pre-established code entered in the Hold/Release field. Schools can update the Hold/Release field on individual disbursements when submitting an application for guarantee via AdvanTG™ 2.2. In addition, AdvanTG™ 2.2 allows schools to change a disbursement's Hold/Release field after guarantee. Schools and lenders will receive electronic notification of changes made to Hold/Release fields via AdvanTG™. AdvanTG™ 2.2 features reports that allow schools and lenders to track the current value of Hold/Release fields on individual disbursements.

Using Hold/Release via Online Access
As an alternative to using AdvanTG™, schools can use the Hold/Release field via the School Disbursement Change screen found in OnLine Access. This screen has been modified to include the new Hold/Release field. If this field contains an "H," the disbursement is on "hold." The disbursement will not be made by the lender until the school has changed the field to "R" for release. Once the field has been updated with an "R," the lender can make the loan proceeds available to the school. An automated history comment will be recorded in TG's loan history each time a school modifies the Hold/Release field via OnLine Access.

EFT Disbursements
It should be noted that an EFT disbursement will not occur unless TG's system indicates both lender approval "A" and school approval "R" on the specified disbursement. Schools may ask Loan Guarantee Operations to assist them in updating individual Hold/Release fields. The request must be sent in writing by an e-mail message to lgo.helps@tgslc.org, by fax to (512) 336-4777, or by mail. Verbal requests will not be accepted.

Questions
For questions about AdvanTG™ or the new Hold/Release process, contact TG Customer Support at (800) 252-9743, ext. 4444, or send an e-mail message to customer.services@tgslc.org.