Federal Updates

What if the PLUS auction fails?
In the event there are no winning bidders for an auction within a state, would ED consider the auction to have failed? If so, what effect would the failure have on the PLUS program?

New ECASLA Announcements
ED recently released Electronic Announcements (E-ANN) #52 and #53, providing additional guidance on the implementation of the Loan Purchase Programs authorized by the Ensuring Continued Access to Student Loans Act (ECASLA).

Federal Reserve Board issues proposed regs for private loans
Last week, the Federal Reserve Board (Board) issued a press release announcing proposed amendments to Regulation Z, which implements the Truth in Lending Act, or TILA. These amendments are necessary in order to implement provisions of the Higher Education Opportunity Act (HEOA), found in Title X of the Higher Education Act of 1965, as amended.

TG Updates

TG enhances AdvanTG Web™, TG Loans By Web™, and Integrated Default Assistant™
In early April, TG will make available several enhancements to its flagship application and loan management system, AdvanTG Web™, and its online loan application tool, TG Loans By Web™. Among other things, these enhancements help simplify change transaction management and open loan processing to any combination of FFELP lender, school, and guarantor.

Positive+Balance™ training examines the links among advertising, consumer spending, and debt
A Positive+Balance™ presentation, The Brewing Storm: Consumerism, Advertising, and Debt, examines consumerism and the advertising industry's influence on spending. The session highlights some of the latest consumer debt statistics and examines the role of advertising in shaping consumer values and in motivating consumers to buy.

Register today — early registration and hotel rates for the 2009 TG Annual Training Conference end March 31
The 2009 TG Annual Training Conference is set to kick off on Wednesday, April 22, at the Renaissance Hotel in Austin, Texas. Early registration for attending and booking hotel accommodations ends at the end of March.

This, That, and the Other...

Given today's markets, the college class of 2009 may not have an easy time finding a job, at least according to a recent survey conducted by the National Association of Colleges and Employers. The survey finds that employers will probably hire 22 percent fewer graduates than they did from the class of 2008. Jobs in popular fields like finance have been hit especially hard. Considering their options, more college seniors are looking into careers in public service. The Boston Globe reports that graduating seniors are enrolling in record numbers in programs such as the Peace Corps and Teach for America. Applications to graduate school are also on the rise.

Find out more about the change in hiring trends at www.boston.com/news/education/k_12/articles/2009/03/14/economic_collapse_puts_graduates_on_unforeseen_paths.