|
TG Updates
HRD calculation — not a hardship anymore
Have you ever worked with a borrower completing the Economic Hardship Deferment Request (HRD) form? One of the conditions that may qualify a borrower for this deferment is if the borrower meets or exceeds a federally defined debt-to-income ratio. The calculation that determines whether the borrower meets or exceeds this ratio can be rather confusing for the borrower to complete. To assist borrowers with the calculation, TG has introduced an online hardship deferment eligibility calculator. This new TG tool takes the borrower through the debt-to-income calculation and indicates whether the borrower may qualify for the economic hardship deferment.
Federal Updates
TG remembers Maryln McAdam
Maryln McAdam, a prominent advocate for higher education and a good friend of TG for more than 20 years, passed away unexpectedly on January 27. Several members of the TG team worked closely with Maryln over the years, and they — along with the rest of the industry — will miss her.
President releases proposed budget for FY 2005
On February 2, 2004, President Bush submitted his proposed budget for FY 2005 to Congress. The $2.4 trillion budget includes a request for $57.3 billion in discretionary funding for ED and a few notable changes to certain federal student aid programs. Besides detailing the president's request for funding, the budget also provides the Bush Administration's proposals for the upcoming reauthorization of the Higher Education Act of 1965 (HEA), likely to occur later this year.
ED publishes technical corrections to federal regulations
ED recently released technical corrections to the federal regulations in the December 31, 2003, Federal Register.
Common Manual
Stay informed by subscribing to public listserv
Financial aid and student lending professionals can keep abreast of policy issues by subscribing to the industry/public listserv offered by the Common Manual Governing Board and Policy Committee. Find out what kind of information you can expect to receive by reviewing the latest Common Manual Training Brief at www.tgslc.org/resources/cm_training.cfm.
Legislative Update
Two new issues of TG's Legislative Report are now online. Read them to catch up with the latest news on federal and state student aid issues and initiatives.
The February 2 edition provides updates on recent House and Senate Budget Committee hearings, which offer a glimpse into the major budget fights that are sure to follow later this year. Also included is news on a University of Texas at Austin task force that has recommended enrollment changes.
The February 3 edition provides in-depth details on the $2.4 trillion FY 2005 budget recently unveiled by President Bush.
Read the full reports on TG Online at www.tgslc.org/lege_report/index.cfm.
| 
