TG Updates

Reminder: TG offers free teleconference on the loan issues final rules

Don't forget to participate in TG's upcoming free teleconference on the November 1 final rules for the Title IV loan programs. The teleconference will include a summary of the rules and a discussion of the major provisions that will impact students, borrowers, schools, and lenders. If ED issues additional guidance prior to the teleconference in the form of a Dear Colleague Letter, that information will also be incorporated into the session.

The teleconference, scheduled for Tuesday, December 11, from 10 a.m. - 12 p.m. (CDT), is being offered at no cost and is open to participants from any institution.

The presenters will be Laura Kowalski, TG assistant manager of policy and regulatory affairs, and Kelly Kaelin, TG senior policy advisor.

To register
To participate in the teleconference, participants must pre-register with AT&T online by visiting www.att-rsvp.com, or by telephone at (877) 471-4350. When pre-registering for the teleconference, please reference Conference ID number 897137.

Participants must pre-register at least 24 hours prior to the teleconference.

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

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The debt fix: TG's November Edufacts™ focuses on the need for good money management among students

November's Edufacts considers the growth in student loan debt and the responsibility it places on students to be effective money managers.

After earning diplomas, many of today's college graduates can look forward to another "rite of passage" — paying back student loans. Graduates of four-year private and public universities in 2004 owed an average of $19,000 in student loans according to figures from the National Postsecondary Student Aid Study 1993-2004 NCES) — a 100 percent increase from 10 years before.

For graduate and professional students, loan debt averaged about $40,000 — again, an increase of 100 percent from the previous decade. The debt problem is also compounded by the growing number of college graduates with loans to repay. In 1993, less than half of college graduates had loans to repay, but the number is closer to two-thirds today.

For many graduates, a form of sticker shock sets in once they pick up their degree. Fresh out of college, it is not uncommon for student loan payments to represent the largest financial obligation many graduates face.

Given the prospect of having debt and a lengthy repayment period, students need to be savvy money managers early on.

Colleges and universities are required by law to provide loan counseling to borrowers of Federal Stafford loans. Along with this, more colleges and universities are offering training that focuses on effective money management.

To learn more
To read the complete edition of the November Edufacts, visit www.tgslc.org/edufacts/2007/edufacts_1107.cfm.

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