Federal Updates

ED releases guidance on return of Title IV funds for schools affected by Hurricanes Katrina and Rita
Last week, ED released two identical electronic announcements regarding the return of Title IV funds — one applicable to schools affected by Hurricane Katrina, and the other applicable to schools affected by Hurricane Rita.

TG gathers top five most frequently asked questions about the Higher Education Reconciliation Act
Since the Higher Education Reconciliation Act of 2005 (HERA) was signed into law on February 8, 2006, the financial aid industry has been abuzz with questions about the provisions of the HERA. Unfortunately, several of the questions do not yet have answers, and the industry has high hopes that a forthcoming Dear Colleague Letter from ED will provide information about triggering events and other elements of several of the provisions.

Students' costs may be manageable even with passage of the Higher Education Reconciliation Act
On February 8, 2006, the president signed the Higher Education Reconciliation Act of 2005 (HERA) into law. Included in the legislation are two student loan interest rate changes that have been reported as dramatically increasing the cost of federal student loans to borrowers. The Congressional Budget Office (CBO) has estimated that these changes in borrower interest rates, in combination with maintaining the variable interest rate formula for lenders, will result in a $15 billion savings to the federal government over a five-year period and $36.3 billion savings through 2015.

TG Updates

TG names Gregory Mackey, June Perry as new account executives
Greg Mackey and June Perry have joined TG's relationship management and consulting team as account executives.

Register for TG's free telephone conference "A Conversation about Distance Education"
TG invites you to listen in as we hold "A Conversation about Distance Education." The free telephone conference, which will be held Thursday, March 9, from 2 p.m. to 3 p.m. (CST), will look closely at the growing trend of distance education as a way to deliver postsecondary education.

TG Online search engine gets an upgrade
TG recently invested in retooling a key component of its website, the search engine.

Reporting Back: 1983
TG's 1983 Annual Report, issued in October of 1983, chronicled an exceptional period of growth and achievement for the corporation.

Question of the week
Can you give some examples of problem areas for lenders during a program review?

Legislative Update

The February 24 issue of TG's Legislative Report includes a Congressional Update on FY 2007 Budget Priorities and Policy Choices. Keep up with the latest developments by reading the full report on TG Online at www.tgslc.org/lege_report/index.cfm.

This, That, and the Other...

Some college graduates are choosing to work abroad to gain professional and life experience before securing a job here, reports The New York Times in a February 25 article.

It was a few months before she was to graduate from Colgate University in 2002, but Lauren DiCioccio was not ready for the briefcase or the Brooks Brothers look. Armed with a bachelor's degree in art and art history, she did what an increasing number of college graduates are doing: she bought a plane ticket to a country she had never visited, backpacked around the region, got a job in that country and then traveled some more.

According to one estimate, 35,000 young Americans realize that working abroad, whether teaching, bartending, taking care of children, typing, or picking grapes, has moved well beyond just trust-fund children. Far from being career suicide, it can actually provide a professional boost.

To read the article in its entirety, visit www.nytimes.com/2006/02/
25/business/worldbusiness/
25abroad.html?pagewanted=all.