Federal Updates

Neg Reg announcement
Following six regional hearings held last fall to gather public input on federal regulatory issues, ED published a Federal Register notice of multiple negotiated rulemaking (a.k.a. Neg Reg) sessions scheduled to begin next month.

Loan purchase programs guidance
ED recently released Electronic Announcements (E-ANN) #41 and #42, providing additional guidance on the implementation of the new Short-Term Loan Purchase Program authorized by the Ensuring Continued Access to Student Loans Act (ECASLA).

ED issues DCL on the HEOA
ED issued a Dear Colleague Letter, providing a summary of most of the provisions of the Higher Education Opportunity Act (HEOA) of 2008, which amended and reauthorized the Higher Education Act (HEA) of 1965.

Final rules 101: The ins and outs of Public Service Loan Forgiveness
Shoptalk Online continues its exploration of the final rules published by ED on October 23, 2008, with a focus on the Public Service Loan Forgiveness Program, a loan forgiveness program for Direct loan borrowers created by the College Cost Reduction and Access Act (CCRAA).

NSLDS Newsletter #22 available
ED has released NSLDS Newsletter #22, which announces new online access requirements for users of the National Student Loan Data System (NSLDS) and describes Student Eligibility Enhancements for the 2009-10 award year.

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

TG Updates

TG receives guidance on return of loan funds under the Loan Purchase Commitment Program
Under the recently implemented Loan Purchase Commitment Program established by the Ensuring Continued Access to Student Loans Act (ECASLA) of 2008, certain fully disbursed loans may be 'put,' or sold, to ED. TG recently requested that ED clarify if the communication of changes and returns of FFELP funds on those loans can be facilitated by the same EFT processes currently in use in the FFELP, or if schools will need to issue paper checks to complete some of these returns

TG introduces new online financial literacy resource — the Positive+Balance™ Community
Finding reliable financial literacy resources can be tricky. To help, TG offers a new online Web site — the Positive+Balance Community — designed for educators and financial aid professionals seeking financial literacy information. The Web site offers an online library of financial literacy resources, all of which are free and easy to download.

Reauthorization resource available on TG Online
TG is pleased to announce the availability of a new resource to assist our customers in reviewing and understanding the various changes brought about by the recently-enacted reauthorization bill, the Higher Education Opportunity and Access Act (HEOA).

TG publishes Customer Service in Financial Aid book
What does customer service mean within the context of a school financial aid office? A new book published by TG, Customer Service in Financial Aid: Strategies to Engage Students and Make a Difference, lays out specific principles to help master the concept of good customer service and use those principles to further an institution's success with student recruitment and retention.

Mapping Your Future® features TG's Cindy Marrs as volunteer
Mapping Your Future (MYF) recently profiled TG's Cindy Marrs for her volunteer work with the organization.

Legislative Update

Top Democratic congressional leaders have been in discussions with President-elect Barack Obama's transition team, identifying legislation for work in the first weeks after Congress convenes in January. A top priority will be the massive economic recovery package that congressional leaders hope to have ready by Inauguration Day. This bill, which is projected to offer $600 billion to $1 trillion in aid, targets a number of social programs, including state Medicaid and projects to rebuild the country's infrastructure. The bill may also provide tax reductions for middle- and low-income wage earners, including a tax credit to fund the first $4,000 of the cost of tuition and fees for a college education in exchange for 100 hours of community service. Learn more about the latest legislative developments by reading the full report on TG Online at www.tgslc.org/lege_report/2008/lr_081229.cfm.

This, That, and the Other...

Claiborne Pell, the former senator from Rhode Island who created the U.S. college grant program that bears his name, died last Thursday, January 1, 2009. Pell also wrote the legislation that established the National Endowment for the Arts and the National Endowment for the Humanities. He was 90.

Pell, a Democrat, was widely regarded as the most formidable politician in Rhode Island history. In six statewide victories over Republican opponents, he received an average of 64 percent of the vote. Pell was stricken with Parkinson's disease at the end of his Senate career, and his illness forced him to retire in January 1997 after six terms in the Senate.

Pell was most widely known for devising legislation that created the program that has dispensed grants to tens of millions of low and middle-class college students. This year alone, approximately 6 million Americans will receive critical financial support to attend college through the Pell Grant program.