TG Updates

TG publishes HERA reference sheets for customers

To assist customers with understanding, communicating, and implementing changes required by the recent passage of the Higher Education Reconciliation Act of 2005 (HERA), TG has prepared and published a series of reference sheets. The reference sheets are available for download from TG's HERA pages on TG Online at www.tgslc.org/reauth/hera.cfm. These useful tools can be printed and distributed to financial aid staff during trainings or meetings regarding operational changes and can serve as references for posting in work spaces.

Information organization
Each reference sheet provides a high-level summary of changes in the Federal Student Aid programs as they relate to schools, to lenders, and to borrowers and students, respectively. Information is grouped and summarized by topic, allowing the reader to progress logically through the changes as they relate to the student financial aid administrative process. Information sheets have been prepared separately for each audience, allowing users to print and refer only to those items that are most relevant to their primary customers. However, since several HERA topics overlap multiple audiences, customers are encouraged to examine all of the reference sheets for information they may find useful. Additional resources available

Customers are encouraged to use these tools to assist with understanding and considering changes required by recent HERA developments. However, as always, if customers have questions or need clarification on any of the items presented, they are encouraged to contact TG's customer assistance team at (800) 845-6267 or by sending an e-mail message to cust.assist@tgslc.org.

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Stop by the TG reception at NASFAA

Join TG at the NASFAA conference in Seattle for a reception to celebrate TG's 25 years of service to students and their families.

Stop by for some food and drinks and stay to enjoy the music of a live jazz band while meeting and catching up with your colleagues and TG friends. The reception will be held on Thursday, July 6, from 6:30 p.m. to 8 p.m. in the Leonesa Room of the Grand Hyatt Seattle at 721 Pine Street.

The student financial aid industry has come a long way in the past 25 years and so has TG. For the past quarter-century TG has been committed to helping students and families access a higher education through partnerships with our schools, lenders, servicers, and others in higher education - that's something we can all celebrate!

We look forward to having you join us.

Where else can you find TG at NASFAA?
Don't forget to stop by the TG booth (#501). TG representatives will be there to show you the latest innovations that TG has to offer.

In addition, several TG team members will be presenting training sessions on a variety of industry and professional development topics at the NASFAA conference. For more details, see Shoptalk Online Edition 359.

Learn more
For more information about the reception, please contact Sheila Casey at (800) 252-9743, ext. 4576, or send an e-mail message to sheila.casey@tgslc.org.

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Question of the week

Q: Is there a timeframe in which ED no longer wants a school collecting unearned aid (i.e., an overpayment that the student owes as a result of the return of Title IV funds calculation) from a student?

A: When a student is notified that he or she has an overpayment, the student has 45 days to repay it in full or to make repayment arrangements with either the school or ED. If the student either doesn't repay the overpayment in full or doesn't make arrangements with the school or with ED by the 45-day deadline, the school must refer the overpayment to ED's FSA Borrower Services - Collections (Collections) and the student loses his or her Title IV aid eligibility. If the student makes repayment arrangements with the school, he or she has up to two years from the date the school determined that the student withdrew to repay the overpayment. If the student doesn't repay the overpayment by the end of the two-year period, the school must refer the student's overpayment to Collections.

Do you have a question?
If you have a question that needs an answer, feel free to Ask TG™. Ask TG is TG's online query tool for borrowers, schools, and lenders. Ask TG includes a database of frequently asked questions about financial aid, student loan processing, and TG's products and services. To submit a question to Ask TG, visit www.tgslc.custhelp.com.

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