Federal Updates

The sudden demise of the single-holder rule
The "single-holder rule" — the provision in the Higher Education Act (HEA) which stated that a borrower seeking a Federal Consolidation loan, whose FFELP loans are held by a single holder, must request consolidation from that holder — has been repealed.

The HERA requires new procedures for post-withdrawal disbursements
One of the many Higher Education Reconciliation Act (HERA) of 2005 changes impacting schools is an expansion of the school's responsibilities in processing a post-withdrawal disbursement for a withdrawn student.

Grad PLUS: A new choice for graduate and professional borrowers
On February 8, 2006, a stir went through the graduate and professional financial aid community. In addition to initiating other changes, the signing of the Higher Education Reconciliation Act (HERA) of 2005 amended the Higher Education Act of 1965 by making graduate and professional students eligible to borrow under the Federal PLUS Loan Program (effective for loans certified on or after July 1, 2006). Soon, graduate and professional students will be able, for the first time, to borrow federal money up to their cost of attendance.

TG Updates

Find out what TG is doing at NASFAA on TG Online
If you are attending the NASFAA conference in Seattle on July 5-8, have some fun with TG's Big Red Bag giveaway.

Reporting Back: 1990
TG's Annual Report for 1990 tells the story of how, in a period of change, TG adjusted its structure and refocused its efforts on providing educational access, while expanding its services and continuing to be a leader in technological innovation and industry expertise — including the premier of Shoptalk.

Trends and Issues

Question of the week
If a borrower includes a spousal Consolidation loan, or a PLUS loan for which the borrower obtained an endorser or co-maker, in a Federal Consolidation loan, does that effectively release the endorser or co-maker of any repayment liability?

Legislative Update

The June 16 issue of TG's Legislative Report includes Congressional Democrats' Priorities for 110th Congress, and highlights of the FY07 Labor, HHS, Education Appropriations Bill as Reported from the House Appropriations Committee. 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...

Are your students tired of studying Spanish, French, and other foreign languages commonly offered on college campuses across the country? A recent New York Times article states that the study of the Gaelic language, better known as Irish, is gaining popularity in the U.S. and in Ireland, where most of the country's people have bemoaned their native language's long strings of "seemingly unpronounceable consonants."

Of the 51 universities outside of Ireland offering Gaelic, 29 are in the U.S., including Notre Dame University, where most of the students studying the language are of Irish decent. The resurgence in interest is attributed to the fact that Gaelic appeals to students who are interested in linguistics, the preservation of indigenous cultures, or the role languages play in international politics. And there are those who simply like Irish culture.

Notre Dame first taught the language in the 1860s, but stopped offering courses in the 1950s. It restarted the program in 1994, and student interest has risen to 296 from 114 in the past three years.

To read the June 14 article, visit www.nytimes.com/2006/06/14/nyregion/14irish.html?_r=1&oref=slogin.