Federal Updates

New FFELP deferment forms approved
ED released Dear Colleague Letter (DCL) FP-09-06, which announced the approval of revised FFELP deferment forms and provided guidance on implementation of the new forms.

Federal Reserve Board approves final rules for private education loans
The Federal Reserve Board issued a press release announcing final 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 of 2008 (HEOA).

$200 million expansion of health care professionals' training, courtesy of ARRA
U.S. Department of Health and Human Services (HHS) Secretary Kathleen Sebelius announced the availability of $200 million to train approximately 8,000 students and credentialed health professionals by September 30, 2011.

TG Updates

New Positive+Balance™ training helps graduate students prepare for life after college
Earning a graduate degree takes considerable commitment. Transitioning to career requires similar dedication. A new training presentation from TG's Positive+Balance™ financial literacy program helps graduate students better understand what to expect after graduation.

Register for TG's webinar on product enhancements
TG recently released enhancements to AdvanTG Web™, its application and loan management system, and TG Loans By Web™, TG's online student loan application tool. As schools and lenders process loans during peak season, these enhanced products may provide for greater convenience. To supply schools and lenders with an overview of current changes, as well as future plans, TG will offer a webinar.

Charles Shields helps TG harness technology to connect with borrowers
Shields' work helps maximize the number of borrowers TG can contact. As a result, more borrowers learn about the options available to them should they experience difficulties making loan payments.

This, That, and the Other...

College students who need a textbook for a class but don't want to keep the physical copy once the semester is over have a solution in new textbook rental Web sites like Chegg and Bookrenter. These sites work like lending libraries, only on a cash basis. Students can rent hardcopy textbooks for a given period of time, say a semester, at a percentage of the cover price. Non-returned books are charged to a student's online account at full price. The service offers several benefits, including lower costs for students and a reduced impact on the environment — fewer new books means fewer trees cut down. The profitability of such sites depends partly on the shelf life of rented books. Some subjects, like science, require new editions on a frequent basis; other subjects, like the humanities, can go for longer periods without requiring revisions to a given edition. Read more about textbook renting online.