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TG Updates
TG, Council join forces with loan servicers to discuss best practices in repayment
TG and its partner, the Council for the Management of Educational Finance, hosted 43 professionals from the student loan servicing and higher education communities in Dallas on February 19 for the third Industry Dialogue with Loan Servicers. Entitled "Emerging Best Practices in Pre-repayment and Default Aversion," this year's event acknowledged students' increasing reliance on loans to finance their higher education dreams, as well as other trends affecting student loan delinquency/default prevention efforts.
Federal Updates
ED issues another reminder about timely LVC completion
Last week, ED issued Dear Colleague Letter (DCL) FP-04-02, reminding loan holders that they must complete and return a Loan Verification Certificate (LVC) in support of a borrower's application for a Consolidation loan from another lender in a timely manner. This DCL reiterates another letter, GEN-03-02, released in January 2003 (See Shoptalk Online Edition 189).
New RT4 DCL provides practical guidance for quirky situations
The Title IV regulations provide guidance regarding the general administration of the federal student aid programs. Of course, as we know, there are always quirky situations that come up that either are not addressed in regulations, or actually seem to pit two regulations against one another! To address situations like this, ED recently released Dear Colleague Letter (DCL) GEN-04-03, the second in a series of RT4 guidance letters that began with GEN-00-24 in December 2000.
Common Manual
Training brief explains how Common Manual policies originate
A new training brief from the Common Manual Policy Committee offers some insight on how policy ideas and changes are developed into the final policies that are incorporated into the Common Manual. The brief, available on TG Online at www.tgslc.org/resources/cm_training.cfm, is the ninth in a series of training resources created to help users get the most out of the manual.
Legislative Update
The February 17 issue of TG's Legislative Report includes updates on FY 2005 federal appropriations, Higher Education Act reauthorization bills introduced to date, and other student aid-related legislation being considered in Congress. Updates on hearings of the Texas Joint Interim Committee on Higher Education and the Texas Sunset Advisory Commission's review of TG are also provided. Keep up with the latest developments by reading the full report on TG Online at www.tgslc.org/lege_report/index.cfm.
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