Federal Updates

President signs HEA extension into law
On July 3, the president signed legislation (S. 1704) to extend the Higher Education Act (HEA) through July 31, 2007.

Remaining 2007-08 interest rates released
There are two categories of interest rates that are announced at the end of June, as mentioned in Shoptalk Online Edition 408. Interest rates for older PLUS and SLS loans are based on the weekly average of the one-year constant-maturity Treasury yield for the last calendar week ending on or before June 26. Interest rates for the HEAL portion of Federal Consolidation loans are based on the 91-day Treasury bill (T-bill) auctioned for the quarter ending June 30.

TG Updates

Mark your NASFAA National Conference agenda for TG's trainings
Each year, the NASFAA National Conference offers a well-rounded roster of training opportunities on federal regulatory changes, financial aid office management, and topics in professional development. TG provides two sessions at this year's conference, which will be held next week in Washington, D.C., from July 8 - 11.

Stay on top of the new Stafford loan limits with this handy chart
The Higher Education Reconciliation Act (HERA) of 2005 mandated a number of changes to the FFELP, including increases to certain Federal Stafford loan annual limits, effective July 1, 2007. TG offers a printable chart to remind you of the new Stafford loan annual maximums, detailing what amounts students can borrow by year and by student type.

Spotlight on TG's Public Benefit Grants: the Valley Initiative for Development and Advancement's partnership with a local Dual Enrollment Academy
Since 1994, the Valley Initiative for Development and Advancement (VIDA), a nonprofit based in the Rio Grande Valley, has been working to right the negative perception of education among local families. They’re also making a higher education possible for more students. Recently, they formed a partnership between local independent school districts (ISDs) and South Texas College (STC). Together, these organizations offer a unique education solution to valley students — a Dual Enrollment Academy (DEA).

Trends and Issues

Performance boost: It's all in the coaching you give your FAO staff
To help shape your financial aid staff into an effective force, offer them coaching — consistent feedback on performance that sets measurable goals and expectations.

Question of the week
Can a school set a deadline within the period of enrollment after which the school will not certify a loan?

This, That, and the Other...

TG will be closed on Wednesday, July 4, 2007, in celebration of Independence Day. TG will reopen for normal business hours on Thursday, July 5, 2007.

This closure will affect EFT disbursements, change transactions, and application processing. Note that files submitted after 11:59 p.m. CST on Tuesday, July 3, 2007, will process with the next scheduled processing run on Thursday, July 5, 2007. Funds for EFT reports received on Tuesday, July 3, will be disbursed on Thursday, July 5, 2007.

If you have any questions or need further assistance, please call Product Support at (800) 332-1455, or send a message to product.support@tgslc.org.