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Federal Updates
ED issues DCL exercising authority to waive grant overpayment resulting from withdrawal due to disaster
The Secretary of Education (Secretary) has decided to exercise recently granted authority that allows the Secretary to waive a student's requirement to repay a grant overpayment that the student owes as a result of withdrawing from school due to a major disaster. In Dear Colleague Letter (DCL) GEN-05-17, released on November 10, ED states that this waiver applies to student withdrawals occurring within a school's academic year or the following academic year, beginning with any academic year that occurs, in whole or in part, within the 2005-06 award year (which runs from July 1, 2005, to June 30, 2006).
TG Updates
TG names Kevin Harris as director, lender partnerships
As director of lender partnerships, Kevin Harris will lead TG's lender partnership consultants to provide enhanced customer service to TG's lending partners as part of TG's relationship management and consulting team. His goal will be to lead the development of new lender partnerships, while also enhancing TG's existing lender relationships.
Real-Time Access and Change Transactions: What's the difference?
One benefit of using AdvanTG Web™ is that it includes under one umbrella all of the components our business partners need in their daily student loan processing — from application processing to default aversion and cohort default rate management tools. Because AdvanTG Web offers complete life-of-the-loan support, sometimes more than one tool can be used to perform similar tasks, even though the objective and function of each tool are different. For this reason, it is important for our customers to know which tool will best meet their needs.
TG Resources: Center promotes influence of two-year colleges on financial aid policy
TG established the Center for Financial Aid Policy in Community Colleges to help influence state and national financial aid policies and practices that affect community colleges. The center is an advocate, resource, and counselor to community colleges as they work to serve the next generation of students.
Question of the week
My loan was reported to a credit bureau. Who reported my loan to a credit bureau and why? (Question submitted by a borrower)
Trends and Issues
TG sponsors online chat event offering advice on student loans to students and parents
TG will co-sponsor a live chat event hosted by Mapping Your Future® on Tuesday, November 15, 2005 at 6 p.m. (CST). The chat event will offer students and parents information about managing student loans, including information on repayment options, consolidation, and discharge.
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