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TG Updates

Shoptalk Online 494, March 10, 2009

TG Updates

A message from Sue McMillin, TG President and CEO

Since President Obama previewed his FY 2010 proposed budget to the nation, you have probably read many accounts and opinions regarding his recommendation to discontinue the Federal Family Education Loan Program (FFELP). TG supports the president's call for a more reliable, stable, adequately funded and efficient student financial aid system, but we join many others in the belief that the objective can be achieved without eliminating school and borrower choice of loan programs and the related services that exist today. In any event, TG strongly believes and urges that any new system provide for the delivery of the sorts of services that guarantors currently provide under the FFELP.

The president's announcement was not unexpected, as it was discussed during his campaign last year, and was part of the National Democratic Party's 2008 platform. We anticipate a lively debate surrounding this aspect of the president's budget blueprint to continue until his detailed proposal is delivered to Congress in April. After that, Congress must still approve an official federal budget for FY 2010, and can choose to incorporate all, none, or some of the president's proposals. A majority of 218 and 51 votes in the House and Senate, respectively, are needed to enact any legislative proposal.

Included in the president's proposal is recognition that there are services that need to be provided by the private sector, and services that need to be provided to communities at the local and state level. For some time now, TG has been working with others in the financial aid community on a comprehensive proposal that allows for the continuation of our wide-ranging services that benefit students, families, and financial aid offices.

As a leading national guarantor and trusted industry resource, TG has worked to build strong, positive relationships with individuals and institutions. We help students better understand their options for financing a higher education and the implications of borrowing. This effort helps them successfully pursue and complete their education and meet their associated responsibilities with regard to loan repayment. Specifically, we offer the following resources to assist schools and borrowers:

College planning and access: TG works to help increase overall college access and success for students and families seeking a postsecondary education. We provide information, including Spanish-language materials, to communicate the importance of higher education and raise awareness among underserved populations that a degree or certification is attainable.
Financial literacy: TG provides an extensive financial literacy program, including a library of printed resources and online content for financial aid professionals, and engaging, interactive Web-based learning tools for families and students.
Student financial aid expertise: TG offers a variety of print, online, training, and consultation resources to help educational professionals better understand student financial aid programs.
Customer-focused technology: TG simplifies the financial aid process by offering products and services that can be integrated with most existing financial aid management systems, creating application processing efficiencies for schools and giving borrowers convenient access to loan information. TG routinely solicits customer participation in the development and enhancement of its products and services.
Highly responsive customer service: TG has worked with more than 2 million borrowers to avoid more than $20 billion in student loan default. We regularly measure the quality of service we provide to borrowers and to schools. In FY 2008, TG's customer satisfaction score was 4.57 out of 5.0.

We take our responsibility for providing excellent support to schools and student borrowers very seriously. Since 1981, TG has assisted more than 3.9 million borrowers by guaranteeing nearly $61.9 billion in federal education loans.

In the weeks and months to come, TG will be working to educate policymakers and their staffs about the important parts of the student aid programs.

TG remains committed to serving higher education institutions and you, our colleagues in financial aid. Serving as a guarantor, we will continue to support student borrowers and schools by providing excellent service, helpful technology, and industry expertise.

TG launches new service to help borrowers manage their TG accounts — myTG^SM

When students graduate or leave school, they often have multiple priorities to manage: finding a job, relocating to a new city or town, and, of course, repaying any student loans they might have. Sometimes, various demands, including demands on time, can make it hard for borrowers to stay current on their loan obligations. TG's new account management tool, myTG^SM, can help borrowers manage their TG accounts online and stay on track to repayment.

New product, great service
A secure, Web-based product, myTG is designed to give borrowers more control over their TG-guaranteed student loans with a convenient Web interface available at any time of day or night.

Accessible through TG Online at www.tgslc.org/borrowers, myTG requires only a simple registration and an e-mail address to create a user account.

Once borrowers register, they can update their personal contact information and manage their account in a variety of ways, including:

Viewing a summary of their TG-guaranteed loans no matter the status,
Accessing detailed account information on each loan, and
Reviewing their payment histories for any defaulted loans.

Using myTG, borrowers can access other resources and tools needed to manage their accounts. Information on default prevention, deferments and forbearances, rehabilitation, and loan discharge and forgiveness, including forms, are readily accessible. For seamless loan management and convenience, myTG also makes available contact information for schools, lenders, and servicers.

To learn more
For more information on myTG and how it can help borrowers stay in good standing, contact TG's customer service team at (800) 845-6267, or send an e-mail message to cust.assist@tgslc.org.

Tap into the power of TG's Positive+Balance Community^SM through an upcoming webinar

Teaching students about managing their personal finances is critical in these times of change, but finding financial literacy resources can be challenging. TG's new Positive+Balance Community^SM is a dynamic Web site designed just for financial literacy educators and financial aid professionals. Available at www.PositiveBalance.org, the community is an online destination for financial literacy solutions and support.

TG's "Tapping into the Power of the Positive+Balance Community" webinar will explore the site's dynamic features and explain how educators and financial aid professionals can use it to supplement financial literacy efforts on their campus. The webinar will be offered on Wednesday, March 25, from 3 p.m. to 3:45 p.m., CDT.

During the webinar, participants will learn how to use the Positive+Balance Community to:

Download training materials,
Create a profile page and post blog entries,
Start discussion groups, and
Keep current on financial literacy news and events.

To register
To participate in the webinar, register through TG Online at www.tgslc.org/training/webinars/positivebalance.cfm?cid=CID_PBC_001&action=register3&addy=[email].

Questions?
For questions regarding the upcoming webinar, contact Margie Harvey, TG's financial literacy program manager, at (800) 252-9743, ext. 4859, or send an e-mail message to margery.harvey@tgslc.org.

Reminder: Register for TG's upcoming webinar on verification

Registration is open for the next in TG's series of live, Web-based, cost-free training events, which focus on current issues in the financial aid industry, as well as financial aid fundamentals. If you haven't yet registered for TG's industry training webinar scheduled for March 19, it's not too late.

Next week's webinar, which will take place from 2 p.m. to 3 p.m., CDT, is titled, "Verification in the Financial Aid Office." Whether you're a new or experienced aid administrator, verification can be a frustrating and intimidating process without the right knowledge and tools. In this session, participants will:

Review basic verification requirements;
Discuss what information must be verified versus what schools may choose to verify; and
Address common questions and difficult situations.

To register
You can register for this webinar at www.tgslc.org/training/webinars/industry.cfm. Schedules for additional webinars will be published quarterly and announced in Shoptalk Online.

TG's regional training in Colorado to spotlight legislative changes, financial literacy

Training in legislative and regulatory changes is indispensable to those working in complex fields like financial aid. TG's regional trainings offer a forum in which to examine the latest legislation, the nuts and bolts of regulations, and new developments in financial aid policy. TG's day-long workshop in Centennial, Colorado, on April 29 provides a great example.

Participants at the Colorado training will hear about and discuss some of the changes required by legislation such as the Higher Education Opportunity Act (HEOA). They will also focus on important administrative developments, including modifications to federal common forms and Dear Colleague/Partner letters.

Typically, regional trainings offer equal time to other issues important to financial aid administrators. Colorado participants will learn more about developing financial literacy initiatives for their school or campus. Educating students on the principles of sound financial practice is vital for both them and our changing economy. Find out how you can create a campus-based program that helps your students become enlightened money managers.

To learn more
Would you like to learn more about the many training opportunities TG offers through its Speakers Bureau? Visit www.tgslc.org/speakers/index.cfm to browse the training catalog. Keep in mind that TG can adapt a training session to meet the needs of your campus. To find out how, contact your account executive at (800) 252-9743.