TG Updates

EFT enhancements speed up file transmissions and processing for schools and lenders
Over the last year, TG has been diligently working to enhance our EFT process. Although our legacy system has proven to be stable and reliable for over a decade, TG and our EFT vendor partner Global eXchange Services (GXS, formerly GEIS) decided last year to upgrade our EFT processing platform to an E-Commerce platform, or Internet Commerce Platform (ICP). The challenge with upgrading the system infrastructure was to maintain the stability and integrity that our customers have come to rely upon.

Trends and Issues

NCHELP Electronic Standards Committee seeks school involvement
The National Council of Higher Education Loan Programs (NCHELP) Electronic Standards Committee (ESC) wants schools to become more involved with its development of FFELP industry initiatives that provide for more efficient, cost-effective processing of FFELP loans. ESC coordinates and facilitates a proactive approach to all of NCHELP’s electronic efforts, including the timely development of electronic-communication standards within the FFELP.

MYF offers information on education loyalty and affinity programs
Mapping Your Future (MYF) now features information on the major education loyalty and affinity programs at www.mapping-your-future.org/paying/affinity.htm. Loyalty and affinity programs allow students and family members to save money for higher education by shopping at designated retailers or using a designated debit or credit card.

New details available on the Texas B-on-Time Program
The Texas Higher Education Coordinating Board (THECB) has recently released, in its monthly publication CB Update, additional information on the new Texas B-on-Time Program, which schools may award to Texas residents for the 2003-2004 academic year starting this month.

Legislative Update

The January 16 issue of TG's Legislative Report includes updates on high-priority legislation facing Congress this year; the latest Congressional Budget Office figures on rising federal deficits, entitlements, and defense spending; and a $750 million reduction in higher education spending proposed by California's Governor Arnold Schwarzenegger. Keep up with the latest developments by reading the full report on TG Online at www.tgslc.org/lege_report/index.cfm.

This, That, and the Other...

Want to help the families and students you serve avoid scholarship scams? A list of red flags is provided in this week’s edition of AI, an e-newsletter from TG that offers hints and tips geared to students and their parents.

Some of the warning signs explained include free seminars, ego stroking, pay-to-play provisions, notification by phone, time pressure, lack of phone number, Better Business Bureau or federal agency endorsement claims, and requests for sensitive personal financial information.

Access this week’s AI online at www.aie.org/ai/
issues/20040119.html. If you think this kind of information would be helpful to those you serve, spread the word that families and students can subscribe online at www.aie.org/ai/
subscribe.cfm.