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Federal Updates
Pell Gets Slight Boost in FY 2003 Appropriations
On February 20, 2003, President Bush signed the FY 2003 omnibus appropriations bill into law, setting the spending levels for a fiscal year that is already more than one-third completed. With the exception of military spending, the federal government has been funding its operations since October 1, 2002, through a series of continuing resolutions, which authorize the same funding levels as the prior fiscal year.
ED Delivers Draft Cohort Default Rates
Schools looking to preview their cohort default rates for FY 2001 should watch their mailboxes (or inboxes). ED distributed FY 2001 draft cohort default rates to all schools participating in federal student loan programs on February 18, 2003.
TG Updates
TG Details PLUS MPN Implementation Issues
As announced in Edition 191, ED recently introduced the Federal PLUS Loan Application and Master Promissory Note (PLUS MPN). To help you prepare to integrate the PLUS MPN into your process, TG offers the following information on some of the new form's features. Near the end of the article you will find details on how to obtain the new forms.
A Day in the Life...The Series Continues
Shoptalk Online's Day in the Life series continues its examination of the roles that TG's internal teams play in the life of the loan. This month, the series takes a look at the work of TG's National Student Loan Data System (NSLDS) team.
Trends and Issues
MYF Offers Deferment and Forbearance Chat
Borrowers who are experiencing economic hardship or other difficulties that present obstacles to repaying their student loans will benefit from an interactive chat on Mapping Your Future (MYF) (www.mapping-your-future.org)—a college, career, and financial aid website.
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