Tech Report

TG adds loan fee information to disbursement screens in Real Time Access

In December 2007, TG's Board of Directors voted to continue to subsidize the 1 percent federal default fee for Federal Stafford and PLUS loans for student and parent borrowers for the 2008-09 award year. Recently, TG added this fee information to certain disbursement screens in Real Time Access (RTA), its application and loan processing system that provides school and lender customers access in real time to their loan information with TG.

These changes will provide a more complete and accurate picture of costs and fees associated with loan disbursements, all accessible whenever the school or lender needs it. The modified screens became available on Monday, January 28.

Enhanced screens and new fields
As part of this change, the following screens in RTA have been modified:

• Disbursement Inquiry
• Disbursement Change
• Disbursement Approval

Below is an example of the new Disbursement Inquiry screen. Please take note that the disbursements will be listed in columns instead of rows as previously displayed.

(Click to view enlarged image.)

TG has also added the following fields under the new Total FDF Due and Total O Fee Due sections. The FDF Balance Information section provides information for TG and the lender regarding invoicing and payment of the federal default fee by the lender (for future use).

• FDF Paid by Lender
• FDF Paid by TG
• FDF Paid by Borrower
• Total O Fee Due*
• O Fees Paid by Lender*
• O Fees Paid by Borrower*
• Net Disbursement

*O Fee is the origination fee amount

About TG's the subsidy
TG's continuing subsidy of the 1 percent federal default fee will result in savings for more than 500,000 borrowers whose loans are guaranteed by TG between July 1, 2008 and June 30, 2009, regardless of which postsecondary school a student attends or of the financial institution issuing the loan.

Questions?
To learn more, contact TG's product support team at (800) 332-1455 or send an e-mail message to product.support@tgslc.org.

  Back to Top