Federal Updates

Closed school corner
The Department of Education announces one new closure.

Ringing in the new year with Neg Reg
ED recently published a Federal Register notice stating that it would be conducting negotiated rulemaking (a.k.a. Neg Reg) beginning this January. ED subsequently held three regional hearings — at one of which TG provided testimony — to gather public input regarding federal regulatory issues, which would be considered for inclusion in negotiated rulemaking.

While you were out...
While many of us were sipping eggnog and sharing time with family, ED and Congress were busy wrapping up some last-minute gifts for the financial aid community. Here's a quick recap of some of the events and announcements that have occurred since Shoptalk Online began its holiday hiatus.

Dear Colleague Letter on not-for-profit holder status for special allowance payments
On December 28, ED released Dear Colleague Letter (DCL) FP-07-12, which provides guidance on the process that will be used to determine which entities meet the statutory definition of an eligible not-for-profit holder for purposes of receiving special allowance payments (SAP).

Current special allowance rates: quarter ending December 31, 2007
Special allowance rates for the quarter ending December 31, 2007, are now available.

TG Updates

TG offers 4th annual lender training
TG will hold its 2008 Lender Workshop for lenders and servicers on January 24, 2008 at the Hilton Austin Airport Hotel in Austin, Texas. The training event offers a forum for learning about the latest regulatory changes affecting higher education.

TG to host webinar on reaching first-generation families in the Digital Age
The digital era of instant messaging and other technology is leading college access professionals to adapt new tactics to improve communications with first-generation college students and their families. To help with that effort, TG is sponsoring a webinar — Reaching First-generation Families in the Digital Age — on Wednesday, January 16, for college access and financial aid professionals.

With help from a TG grant, Northeast Lakeview College and Judson ISD join to create a "College Connection" for students
Charting a path from high school to college isn't easy even for students with the best resources in information and family support. The process holds particular difficulties for first-generation students. To break down the barriers these students face, some high schools and colleges forge partnerships that offer students help in preparing for college and even serve to create a "college-going culture" in high school. Here's one example of this kind of partnership which TG enthusiastically supports with a grant from its Public Benefit Grant Program.

Trends and Issues

Question of the week
The College Cost Reduction and Access Act (CCRAA) created a new loan forgiveness program for Federal Direct Loan Program borrowers who hold public service jobs. Is there an eligibility option for FFELP borrowers? What considerations should be made before applying for this loan forgiveness program?

Common Manual

Common Manual Updates
Information on recent updates to the Common Manual.

Legislative Update

On December 17, Congress passed HR 2764, The Consolidated Appropriations Act of 2008, which maintains funding at the same level, or decreases funding slightly, for the Title IV student financial aid programs. The bill provides appropriations for the following programs, among others: Pell Grants, with an annual maximum set at $4,241 (however, the College Cost Reduction and Access Act will supplement this amount); the Academic Competitiveness Grants (ACG) and National Science and Mathematics Access to Retain Talent Grants, with annual maximums of $750 and $1,300, respectively; Supplemental Educational Opportunity Grants, which decreased from $770.90 to $757.40; and College Work-Study, level-funded at $980.40. Learn more about ongoing developments by reading the complete Legislative Report at www.tgslc.org/lege_report/2007/lr_071220.cfm.

This, That, and the Other...

The Internet has indeed transformed higher education. A multibillion-dollar industry, both for-profit and nonprofit, has sprung up offering online training and degrees. Figures from the Sloan Consortium, an online learning group, report that about 3.5 million students are signed up for at least one online course — or about 20 percent of all students at degree-granting institutions.

As an example, an MIT initiative called "OpenCourseWare" makes virtually all the school's courses available online for free — lecture notes, readings, tests and often video lectures. MIT's 2001 debut of OpenCourseWare epitomized a key insight: Elite universities can separate their credential from their teaching — and give at least parts of their teaching away as a public service. They aren't diminishing their reputations at all. In fact, they are expanding their reach and reputation.

It turns out there is extraordinary demand for bits and pieces of the education places like MIT provide, even without the diploma. OpenCourseWare's site gets more than 1 million hits per month, with translated versions getting 500,000 more. About 60 percent of users are outside the United States. About 15 percent are educators, and 30 percent students at other universities. About half have no university affiliation. Learn more about MIT's initiative and the growing trend on other campuses of making college coursework available as a free download.

You can find the complete article describing these online classes at www.msnbc.msn.com/id/22440945/.