Shoptalk 528, November 3, 2009

TG Report

New Positive+Balance™ training helps graduate and professional students understand personal finance concepts and skills

Graduate and professionals students have to be savvy when it comes to their personal finances. In addition to the debt they incur as undergraduates, many also rely on student loans to pay their way through graduate school. According to the National Center for Education Statistics (NCES), graduate and professional students accumulate more than $42,000 in debt by the time they leave school. In addition to student loan debt, 95 percent of graduate students have at least one credit card and carry an average balance of $8,600.

"Money Management 601: Personal Finance for Graduate Students," a new training presentation from TG's Positive+Balance™ financial literacy program, provides practical personal-finance tips to help graduate and professional students manage their money and minimize the financial impact of pursuing a graduate degree. The presentation guides users through the process of creating a personalized budget. Graduate students learn how to track their spending and create a funds and expenses worksheet to better distinguish between necessary and nonessential expenses.

The presentation also provides:

Tips for being a smart borrower and informed credit card user;
Information about savings instruments, and useful instructions on how to create a savings plan to achieve savings goals; and
Recommendations for keeping accurate financial records to simplify budgeting and make tax preparation easier.

TG trainers are available by request to present the "Money Management 601: Personal Finance for Graduate Students" training to students. The presentation slides and accompanying workbook can also be downloaded free of charge from TG's Positive+Balance Community℠ Web site.

About the Positive+Balance Community
The Positive+Balance Community is TG's online resource for educators and financial aid professionals seeking financial literacy solutions and support. Members can download free financial literacy materials, including Positive+Balance presentations, as well as share information and materials. They can also create profile pages, connect with other members, post blog entries, start discussion groups, and participate in forums. To sign up for a free membership, visit www.PositiveBalance.org.

To learn more
For more information about Positive+Balance, visit TG Online at www.tgslc.org/PositiveBalance. If you would like TG's assistance in developing, implementing, or improving your financial literacy efforts, contact your account executive at (800) 252-9743, or send an e-mail message to positivebalance@tgslc.org.

Register for this week's TG product update and Put processing webinar

TG will offer a webinar in lieu of the Fall TG User Group (TUG) Board meeting. The webinar, which will cover many of the original agenda items set for the TUG meeting, will be held at two different times on Thursday, November 5.

Inside the webinar
The November 5 webinar will provide an overview of TG's FY 2010 product plans and possible product and services strategies including:

Origination and funding for FFELP and alternative, or private, loans
TG's default prevention tool — the Integrated Default Assistant™ (IDA™)
Making online payments through myTG℠ — The myTG portal is TG's loan account management tool, which provides secure online access to borrowers for their TG loans. Borrowers in default now have the ability to make their loan payments online through myTG.
Updates on TG's financial literacy program offerings
Put processing considerations for both schools and lenders and TG enhancements to help schools and lenders facilitate the Put process

Webinar times

Thursday, November 5, 10 a.m. - 11 a.m. Central Time
Thursday, November 5, 2 p.m. - 3 p.m. Central Time (repeat)

Register
Join us for a discussion on the latest updates to TG's products as well as an overview of Put processing considerations.

To learn more
For questions, contact TG's product training coordinator Lisa Felder at (800) 252-9743, ext. 4758, or send an e-mail message to lisa.felder@tgslc.org.

TG to offer varied industry trainings at fall conferences and events

This fall peak season has probably been one of the more challenging ones for financial aid administrators. The recession has driven up enrollment figures at colleges across the country. Now that the fall peak period is generally over, consider training opportunities designed to help you refocus on key industry and regulatory topics. Over the coming months, TG will offer sessions at conferences in Missouri, Arizona, and New Mexico. To learn more about these trainings, read through the following short session descriptions. You'll find a complete listing of events that TG will attend and/or participate in at www.tgslc.org/abouttg/calendar.cfm.

Arizona Association of Student Financial Aid Administrators (AASFAA) Fall Conference, Mesa, Ariz., November 5

Transitioning to a 3-year Cohort Default Rate: In this session, participants will learn how a school's cohort default rate (CDR) is calculated and how the Higher Education Opportunity Act (HEOA) has affected CDRs, including how the shift from a 2- to a 3-year calculation has influenced CDRs. Participants will learn about the benefits for schools with low default rates, and the consequences of higher default rates. The session will also highlight default prevention initiatives to assist schools in managing their CDR.

Missouri Association of Student Financial Aid Personnel (MASFAP), Lake of the Ozarks, Mo., November 9

R2T4 — Basics and Beyond: The Return of Title IV funds (R2T4) calculation is one of the most challenging duties that a financial aid officer must perform. This session will help demystify the R2T4 calculation for new and seasoned financial aid officers. The course provides some general principles of the R2T4 process, explains the elements of an R2T4 calculation, and provides recommendations on how to avoid some of the more common R2T4 findings in a program review.
Managing Student Loan Repayment: While students receive information during loan counseling, they often have questions about how loan repayment works. Designed for students and financial aid administrators, this session describes the repayment options available to students as they prepare to enter the workforce. Topics include: taking inventory of student loans; understanding the available repayment plans (including Income-Based Repayment) and the advantages of each; reviewing the basics of consolidation; and learning about deferment and forbearance.

Southwest Association of Student Financial Aid Administrators (SWASFAA) Annual Conference, Albuquerque, N.M., December 9-11

Show What You Know: Using a game show format, TG's presenters pose a series of challenging policy questions on current federal student aid topics to attendees. Participants will enjoy the fun, interactive nature of the presentation and leave with valuable, practical regulatory information.

To learn more
Would you like to learn more about the many industry training opportunities TG offers through its Speakers Bureau? Visit www.tgslc.org/speakers/index.cfm to review the complete training catalog. Keep in mind that TG can adapt a particular training session to meet the needs of your financial aid office. To find out how, contact your account executive at (800) 252-9743, or send an e-mail message to relationship.management@tgslc.org.