Federal Updates

ED releases official FY 2007 cohort default rates
On September 14, ED released the official cohort default rates (CDRs) for FY 2007.

Neg Reg announcement
On September 9, following three regional hearings held last summer to gather public input on federal regulatory issues, ED published a Federal Register notice of multiple negotiated rulemaking (a.k.a. Neg Reg) sessions scheduled to begin this fall.

ED clarifies recent changes to minor prior-year charges
On September 8, ED released Dear Colleague Letter (DCL) GEN-09-11, which provides clarification on the use of current year Title IV funds to pay for minor prior-year charges.

Submit your comments on 2010-11 draft FAFSA
On September 4, ED released a draft version of the 2010-11 Free Application for Federal Student Aid (FAFSA) with a request for comments, ideas, and suggestions from the financial aid community. ED has also posted a summary of the proposed changes and instructions for submitting comments.

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

TG Updates

Save the date for TG's cohort default rate webinar
With the release of official FY 2007 cohort default rates (CDR) this week, TG understands that schools may have questions and concerns about the CDR-related changes in the HEOA. To assist schools in understanding the CDR process, TG will offer a "Managing Your Cohort Default Rate" webinar.

Register now for TG's Cash Management webinar
Registration is open for the next in TG's series of live webinar training events that focus on various issues in the financial aid industry. The webinar, which provides information and discussion on cash management practices, will be offered on Thursday, September 17.

TG announces changes to the reporting and tracking tool of its Electronic Funds Transfer product
On September 21, 2009, TG will implement enhancements to the Electronic Funds Transfer (EFT) product. These modifications will make EFT's Funds Disbursement and Returns Reporting System a more effective tool for tracking and reporting data for loan programs administered by the Texas Higher Education Coordinating Board (THECB).

Using TG's EFT process for return of funds
Whether returning a single disbursement, or canceling and returning an entire loan, TG's EFT process provides a flexible, convenient way to meet a school's scheduling needs. TG processes disbursements in two funding cycles: Next-Day Funding and Three-Day Funding.

Meet Margie Harvey, TG's financial literacy segment manager
Creating community was exactly the idea behind TG's Web site, the Positive+Balance Community℠. The Positive+Balance Community offers financial literacy information and resources free to educators and financial aid professionals. It also harnesses the power of social media by providing a forum for participants to share information and even blog about their work in financial literacy. A force behind the development of the Positive+Balance Community was Margie Harvey, TG's financial literacy segment manager.

Trends and Issues

Policy potpourri
How is a school's cohort default rate (CDR) affected if a borrower receives Stafford loans at multiple schools and defaults during the cohort default period?

This, That, and the Other...

The National Survey of Student Engagement (NSSE) is an annual survey administered to hundreds of college students at 4-year colleges and universities from across the nation. Schools use the survey to benchmark their services to students against those provided by other institutions. Students use the survey to determine whether a particular university offers the kind of learning experience they desire. The survey asks students to rate their college experience in five general areas: level of academic challenge, active versus collaborative learning, faculty interaction with students, campus environment, and educational opportunities. Student responses are compiled and averaged by institution and then made available online. Explore the latest survey findings by visiting the NSSE Web site.