TG Updates

TG's plan to implement Grad PLUS
As you know, the PLUS loan program recently was expanded to include graduate and professional students (Grad PLUS). The FFELP industry has since adopted the "GB" Grad PLUS loan type to allow service providers and software providers to electronically exchange, identify, and appropriately process Grad PLUS loans on their systems.

TG establishes $500,000 Textbook Awards fund to help students affected by hurricanes Katrina and Rita
TG's Public Benefit Grant Program, a philanthropic initiative of TG, has set aside $500,000 to help students whose education was interrupted by hurricanes Katrina and Rita. The TG Textbook Awards program will provide 1,000 students with $500 grants to purchase textbooks and education-related supplies for the 2006 summer session or the fall 2006 semester.

Question of the week
Can a borrower apply for two separate Consolidation loans at one time?

Trends and Issues

PLUS or minus: Including the new Grad PLUS in your federal student aid programs
Since the passage of the Higher Education Reconciliation Act of 2005 (HERA), schools have been weighing the pros and cons of participating in the new Grad PLUS program. Schools not currently participating in the PLUS loan program may be interested in offering this loan option to their graduate and professional students. Conversely, schools currently offering PLUS loans to the parents of their dependent undergraduate students may be unsure about awarding Grad PLUS loans to eligible students at their institutions.

This, That, and the Other...

TG offices will be closed on Monday, May 29, in observance of Memorial Day. TG will resume normal business hours on Tuesday, May 30.

Enjoy your weekend!