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Federal Updates
President gives act a HEROES welcome, again
On August 18, 2003, President Bush signed into law the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act). The Act authorizes the Secretary of Education to waive certain Title IV student aid statutory and regulatory requirements, as necessary, as a result of the military mobilization spawned by the 2003 war in Iraq or as the result of a national emergency.
TG offers guidance on late disbursements after 120 days
TG has recently learned of the successful submission of a late disbursement request to ED after the 120-day timeframe allowed by federal regulations. TG suggests that if a school finds itself in a similar situation and needs to submit a request of this nature, that it follow the guidance provided in this article.
TG Updates
Peak season's greetings
TG sends best wishes to all of its school and lender partners as the fall semester begins. With peak season now underway, remember that TG is here to assist you with any questions and concerns that you may have. As always, we share your goal of providing superior service to students and families.
Trends and Issues
TG cosponsors chat event on deferment, forbearance, and default prevention
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.
Common Manual
New training briefs help users get the most out of manual
Common Manual users have spoken, and the nation's guarantors have responded. In the most recent annual survey of Common Manual users across the financial aid community, several respondents asked for focused and concise information to help ease the transition to the newly reorganized manual. To meet this need, the Common Manual Policy Committee has introduced a new resource: Common Manual training briefs.
Legislative update
The August 19, 2003, issue of TG's Legislative Report provides updates on the status of major student aid-related legislation filed during the first session of the 108th Congress and the latest federal budget deficit estimates from the Congressional Budget Office. Also included is an update on a proposal from Senator John Edwards (D-NC), a presidential candidate, to repeal the Federal Family Education Loan Program.
Read the full report on TG Online at www.tgslc.org/
lege_report/index.cfm.
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