Federal Updates

Reauthorization watch
TG recently updated its Higher Education Act reauthorization page on TG Online with information and links on several recent developments.

Are you using the latest Consolidation forms?
The latest version of the Federal Consolidation Loan Application and Promissory Note (Consolidation Loan Application) was announced in December 2003, in Dear Colleague Letter GEN-03-13. The letter stated that the new form could be implemented immediately, but that it must be distributed to borrowers as of June 1, 2004. Now that this date has passed, it's time to begin providing the latest version of the form to your borrowers, if you aren't already doing so.

Correction to article on Treasury Section 221 regulations
One of our readers spotted an error in the article "Treasury issues final Section 221 regulations" from last week's Shoptalk Online. TG has corrected the version of the article archived on our website, and wants to make sure that you are aware of the change.

Trends and Issues

NCES releases 2004 Condition of Education
The National Center for Education Statistics (NCES), the primary federal entity for collecting and analyzing data on education in the United States and other nations, has released the 2004 version of its annual publication The Condition of Education. Mandated by law to be submitted to Congress every June 1, the report summarizes important developments and trends in education.

This, That, and the Other...

Most institutions of higher education are under a perpetual budget crunch, but since the economic downturn of the last few years, many schools have been asked to tighten their belts even tighter. According to a recent CNN.com article, some institutions have found innovative ways to cut costs by forging collaborative efforts with other schools. The article is available at:

www.cnn.com/2004/EDUCATION/
06/01/collaborating.colleges.ap/
index.html.

Even if this sort of effort isn't feasible for your campus, the article still provides an interesting glance into the creativity of your higher education peers!