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TG Updates
NSLDS releases 2005 federal reporting schedule
The National Student Loan Data System (NSLDS) has released its schedule for 2005 federal reporting. Lender Manifest, Common Account Maintenance (CAM), and Enrollment Reporting submissions must be received at TG by 10 a.m. on the date listed in the TG submission file date column below, in order to be included in the corresponding month's TG monthly NSLDS file.
Federal Updates
President signs FY 2005 appropriations bill
On December 2, President Bush signed the FY 2005 omnibus appropriations bill into law, setting the spending levels for a fiscal year that is already underway. Below are some high points of the bill that affect higher education funding.
Variable interest rate for calendar year 2005
ED has announced the PLUS/SLS variable interest rate for 2005 for loans using the "91-day Treasury Bill" interest rate calculation method. Due to wording of promissory notes, some older loans are subject to a calendar year adjustment of the variable interest rate based on the "91-day Treasury Bill" method that existed prior to the enactment of the Higher Education Act Technical Amendments of 1987. Most of the loans with this interest rate provision have likely already been paid in full or refinanced.
Closed school corner
The Department of Education announces two new closures.
Legislative Update
The December 10, 2004 issue of TG's Legislative Report includes updates on the naming of Brian Fitzgerald to executive director of the Business-Higher Education Forum, pre-filed bills for the upcoming 79th Texas Legislature, which convenes on January 11, 2005, and the final session of the 108th Congress, which adjourned sine die on December 9. 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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