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Index of Past Issues

Federal Updates Income-Based Repayment: What lenders and servicers need to know The implementation date for the new Income-Based Repayment plan (IBR) draws near. Make sure you understand the fundamentals of IBR by reading this article, which also explores common questions about the treatment of interest capitalization, interest subsidies, and special allowance payments (SAP) in IBR. Income-Based Repayment: Revised claim requirements Members of the Default Aversion and Claims Standardization (DACS) subcommittee of the NCHELP Program Operations committee have revised the Claim Form as well as CAM Record type 54 to capture this information. The new data elements are required for all claims, with the exception of CS, DE, FC, or ID, submitted on or after July 1. TG Updates TG offers online resources, including calculator tool, for Income-Based Repayment Schools and lenders can play an important part in educating borrowers about IBR by supplying information during exit counseling or directing borrowers to Web sites that provide comprehensive information. TG offers just such a Web site through TG Online as well as a calculator tool to help borrowers in determining eligibility and estimating monthly payments under IBR. TG to introduce new Web-based lender tool for reporting disbursements TG is adding more convenience to its disbursement reporting process, converting its paper-based system to a Web-based tool. In July, TG will roll out the electronic Lender Disbursement Reporting (LDR). LDR will replace TG’s monthly paper report for unreported disbursements. The last such paper report will be mailed in mid-July. Join TG at upcoming financial literacy symposium TG is hosting several symposiums this summer that focus on developing and implementing on-campus financial literacy programs. The first symposium will be held in Houston, Texas. Correction to article on variable interest rates In last week’s Shoptalk Online, the article titled “Variable interest rates drop again” incorrectly listed the interest rate for Stafford loans during repayment and forbearance, effective July 1, 2009.

Many prospective college students are already considering their expenses for next year. Help them budget wisely with an online budget worksheet available through Adventures In Education at www.aie.org/Calculators/ budgetworksheet inschool.cfm. This, That, and the Other... The National Center for Education Statistics (NCES) recently posted the 34th annual "Condition of Education" report for 2009. The report highlights the persisting college access gap between whites and minority students. The report also detailed financial aid awarded by different types of institutions and the work habits of today's students. The report found that 73 percent of undergraduates participated in some type of financial aid program, including federal, state/local, and institutional grants, and student loans, according to the report. The percentage of undergraduates receiving financial aid was 85 percent at private not-for-profit institutions; 70 percent at public institutions; and 69 percent at for-profit institutions. In terms of work hours, the percentage of full time college students (16-24 years old) working has increased from 34 to 52 percent between 1970 and 2000. That percentage has fluctuated between 46 and 69 percent between 2001 and 2007. The number of hours worked per week has also increased. The percentage of students working at least 20 hours per week increased between 1970 and 2000 and then remained relatively steady through 2007. Learn more about findings from the report at http://nces.ed.gov/ pubs2009/2009081.pdf.

TG P.O. Box 83100 Round Rock, TX 78683-3100 (800) 252-9743 (512) 219-5700 (512) 219-4560 speech and hearing impaired.

Shoptalk Online is published by TG. Unless specifically noted, the policies and procedures outlined in Shoptalk Online apply only to loans made under TG's guarantee and not to loans underwritten by other guarantors. To ask questions about the articles in Shoptalk Online, please contact Communications at (800) 252-9743, ext. 4732 or communications@tgslc.org. Contributors to this edition: Rob Davenport, Cindy Marrs, Matt Smith, and Bob Ugiansky. Edited by TG Communications and Policy and Regulatory Affairs. Designed by TG Communications. ©2009 Texas Guaranteed Student Loan Corporation. AdvanTG Web, Ask TG, TG Loans By Web, and the TG logo are trademarks of Texas Guaranteed Student Loan Corporation.