Federal Updates

New ECASLA E-ANNs provide information on the conduit program and required documents for the Loan Purchase Commitment Programs
ED has issued two new Electronic Announcements (E-ANN) providing additional guidance on the implementation of the programs authorized under the Ensuring Continued Access to Student Loans Act (ECASLA).

Federal Register notices on Competitive Loan Auction Pilot Program released
ED published two Federal Register notices regarding the Competitive Loan Auction Pilot Program (auction).

First loan-related Neg Reg sessions come to a close
Over the last couple of weeks, members from various sectors of the financial aid and higher education communities have gathered in Washington, D.C., to participate in the first sessions of the 2009 negotiated rulemaking (Neg Reg) process.

ED approves new TPD form
ED released Dear Colleague Letter (DCL) GEN-09-02, announcing an updated version of the Discharge Application: Total and Permanent Disability (TPD).

TG Updates

TG is ready to accept ECASLA Pre-Put files from lenders
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. In order to streamline the exchange of information that occurs when a loan is Put, the National Council of Higher Education Loan Programs (NCHELP) has developed a notification document. The intent of the NCHELP Trading Partner Notification of ECASLA Put File is to help address concerns associated with loan originations and modifications that could be affected by the Put transaction.

New Positive+Balance™ training examines life after college
A new workshop for TG's Positive+Balance™ financial literacy program helps students understand what to expect when they graduate and look for a job.

TG to offer enhanced TG Message Central service
In early April, TG will release an enhancement to TG Message Central, which will allow customers to choose the types of messages they would like to receive.

TG Annual Training Conference watch: Plan your conference experience
The 2009 TG Annual Training Conference offers three days of training on a variety of subjects important to schools and lenders, including financial literacy, default prevention strategies, and regulatory and legislative developments. To help you plan your training experience, TG placed the conference agenda online. Using the agenda, you’ll be able to choose what sessions to focus on, learn who the keynote speaker is, plan for evening events, and more.

This, That, and the Other...

More colleges and universities are adding money management courses to their curriculums in an effort to educate students about credit, debt, and responsible budgeting. An Amherst College professor is taking the concept a step further by offering a course that explores the link between economic consumption and personal happiness.

Daniel P. Barbezat's "Consumption and the Pursuit of Happiness" has a mandatory reading list, makes term paper assignments, and regularly tests students with scheduled quizzes. The class requires that students participate in weekly meditation-like exercises at the college's chapel. What are the lessons to be learned from such a curriculum? According to Barbezat, the course allows students to question the links they may make between wealth, the ability to consume, and a sense of fulfillment or happiness.

Barbezat says his course is not about teaching students how or what they should consume but rather teaches them to be aware of their personal consumption in relation to happiness. Those with greater wealth often report greater happiness than those with less wealth. An awareness of this connection, he argues, is an essential lesson for students alongside general financial literacy.

Read the complete article on the course at www.insidehighered.com/news/2009/02/26/amherst.