Federal Updates

Spanish version of economic hardship deferment form updated with latest poverty guidelines
The Spanish version of the Economic Hardship Deferment Request form (HRD) and accompanying worksheets have been updated to reflect the new 2006 poverty guideline figures.

Latest volume of the 2006-07 FSA Handbook now online
ED has released three volumes of the new 2006-07 Federal Student Aid Handbook (FSA Handbook).

ED releases guidance pertaining to loan issues stemming from Higher Education Reconciliation Act
On March 10, ED released Dear Colleague Letter (DCL) GEN-06-02/FP-06-01, which provides clarification, guidance, and triggering events for the loan-related provisions of the Higher Education Reconciliation Act (HERA).

TG Updates

Update: 2006 TG Conference, Caring for our Generation and the Next
April is often a time when financial aid professionals can take a moment to unwind from a hectic year and perhaps get in a bit of rest and relaxation before the next peak season begins. That is what TG has planned for this year's annual conference that will be held from April 18 - 20 in Austin, Texas. During the three day event, our school and lender customers will be treated to some of the best training available in higher education, all focused to help attendees "relax, retool, and recharge."

Reporting Back: 1984
TG's Annual Report for 1984 once again recalled a year filled with significant accomplishments in technological innovation, customer service, and educational access. The following excerpts showcase these accomplishments, and some foreshadow future advancements.

Question of the week
Can a school charge interest to a student, who is subject to delayed disbursement, on an institutional tuition or emergency loan, or charge the student a late fee on his or her tuition bill, while the student is waiting for his or her Stafford loan funds to come in?

Trends and Issues

Are taxes taxing your students?
When confronted with filing an income tax return for the first time, students often call on financial aid administrators to act as guides to lead them through the bewildering world of tax codes, laws, and liabilities. Though financial aid administrators are not expected to be tax experts, they often have a basic understanding of tax laws and regulations that can be used to help students become responsible tax-paying citizens, allowing them to move one step closer to entering the real world.

Legislative Update

The March 8 issue of TG's Legislative Report includes updates on the Senate Budget Committee's FY 2007 budget resolution and FY 2007 budget proposals for student financial aid. 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...

Textbook prices have been rising at double the rate of inflation for the past two decades, according to a Government Accountability Office study. High costs are making some students decide to just do without some textbooks, according to a January 23 article in The Washington Post. The National Association of College Stores recently found that nearly 60 percent of students nationwide choose not to buy all the course materials.

Book prices can be a nasty surprise — one more thing putting college out of reach.

Students at four-year schools spent, on average, about $900 for books and supplies in 2003-04, more than a quarter of the cost of tuition and fees. At community colleges, the GAO study found, the books amounted to almost three-quarters of the cost.

Because many undergraduates get federal financial aid, the overall cost of college is a concern to Congress, which sought the study.

Textbook prices almost tripled from 1986 to 2004, the GAO report this summer found, in large part because of the increasing cost of developing the things that now often come with the books, such as CD-ROMs, websites and workbooks. And publishers revise texts more quickly than they used to, limiting the used-book market.

Bills in Congress would provide grants to some schools to launch rental plans and make as much as $1,000 of textbook costs tax deductible. To read the complete article, visit www.washingtonpost.com/
wp-dyn/content/article/
2006/01/22/
AR2006012201290.html.