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Federal Updates
DCL provides information about new federal grant programs
On April 5, ED released GEN-06-04, a Dear Colleague Letter (DCL) which provides a general overview of the Academic Competitiveness Grant and SMART Grant Programs. These programs, established by the Higher Education Reconciliation Act of 2005 (HERA), offer a new source of funding for undergraduate students who meet certain need- and merit-based criteria.
ED releases final volumes of the 2006-07 FSA Handbook — TG offers complete bookmarked version
With the release of volume 1, Student Eligibility; volume 2, School Eligibility and Operations; and volume 3, Calculating Awards and Packaging, of the new 2006-07 Federal Student Aid Handbook (FSA Handbook), all volumes of the latest edition of the FSA Handbook are now available.
Closed school corner
The Department of Education announces one new closure.
TG Updates
TG to subsidize federal default fee on behalf of students
TG will subsidize the 1 percent federal default fee for federal Stafford and PLUS loans on behalf of student and parent borrowers for the 2006-07 Award Year (loans guaranteed through June 30, 2007).
TG offers student financial literacy and retention workshops nationwide
Over the next few months, TG will offer workshops across the country that will address these issues as part of TG's Positive+Balance™ program, an initiative that focuses on the connection between debt management and student success — both on campus and after graduation.
Question of the week
Is a borrower still responsible for repaying his or her loan when the school that the student has been attending has stopped offering the student's program of study but did not close?
Legislative Update
The April 5 issue of TG's Legislative Report includes updates on Higher Education Act Reauthorization and the House Budget Committee adopting a 2007 Budget Resolution. 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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