Federal Updates

ED provides guidance on income documentation for IBR
ED recently announced interim guidance on the documentation of a borrower's income for the purpose of determining eligibility for the Income-Based Repayment Plan (IBR).

ED confirms Web site information and provides updated contact information
In an Electronic Announcement released last week, ED noted that it has heard recently from borrowers who are concerned about the legitimacy of e-mails from the Department of Education Student Loan Servicing Center.

Income-Based Repayment: Good news for borrowers
On July 1, the financial aid community will begin offering student loan borrowers a new tool for managing their loan repayment. By creating more affordable monthly payment amounts, the Income-Based Repayment Plan (IBR) will provide a ray of hope to borrowers who are struggling to repay their student loans under traditional repayment plans.

Reminder: Upcoming federal minimum wage increase
On May 25, 2007, President George W. Bush signed into law the U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, which, among other changes, mandated incremental increases in the federal minimum wage. As of July 24, 2009, the last of three annual increases authorized by this legislation will go into effect, increasing the minimum wage from $6.55 per hour to $7.25 per hour.

Closed school corner
The Department of Education announces two new closures.

TG Updates

Plan to attend TG's upcoming webinar on R2T4
If you haven't yet registered for TG's industry training webinar scheduled for June 18, it's not too late. The webinar, scheduled from 2 p.m. - 3 p.m. Central Time, will focus on the Return of Title IV funds (R2T4) calculation and process.

Returned claim documentation
Effective July 1, 2009, TG claims will implement new procedures for the return of recalled or denied claims.

TG to present webinar on ECASLA
TG will offer a webinar designed to provide an instructive overview of the impacts of the Ensuring Continued Access to Student Loans Act (ECASLA). The webinar will be held June 24, at 3 p.m. Central Time.

Financial literacy focus: TG to host two financial literacy symposiums
This summer, TG will host two free one-day symposiums on developing and implementing campus financial literacy programs. TG's symposiums offer forums where professionals can discuss techniques to help students manage their finances more responsibly.

New poster advises students to learn how dropping classes can affect their financial aid
TG has designed a poster that cautions students to consult with a financial aid counselor before deciding to drop classes or completely withdraw from college.

Trends and Issues

Policy Potpourri
Currently, the origination fee for Stafford loans first disbursed on or after July 1, 2008, is 1 percent. What is the origination fee for Stafford loans for the 2009-10 award year?

This, That, and the Other...

Washington University's Tyson Research Center, located in Eureka, Missouri, recently unveiled a new building that is slated to become the nation's first "living" building, a new designation that essentially means the structure is self-sufficient and produces all the energy it consumes.

The Living Learning Center at the Tyson Research Center is a 2,900-square-foot, one-story building built from trees grown on the property as well as recycled materials. The center will generate its own electricity and gather its water supply from rainwater.

The building will be the first to complete the Living Building Challenge, an initiative launched three years ago by the Cascadia Green Building Council and considered the most stringent green building rating in the world.

The Tyson Research Center contains 2,000 acres of woods, prairies, and ponds where Washington University students conduct environmental research. University officials decided to expand research opportunities at Tyson, which prompted the building of the Living Learning Center.

Read more on this green initiative at www.stltoday.com/stltoday/news/stories.nsf/sciencemedicine/story/D394ED9F2F32A8CA862575CF0004185E?OpenDocument.