Shoptalk 530, November 17, 2009
TG Report
Plan to attend TG's sessions at the CCCSFAAA Annual Conference
The financial aid industry is undergoing some pivotal changes, including a shift in the way an institution's cohort default rate is calculated. TG offers a session on the new calculation method at this year's Annual Conference for the California Community College Student Financial Aid Administrators Association (CCCSFAAA) held in San Jose from December 10-12. TG presenters will also offer an in-depth look at the return of Title IV funds and a primer on how best to manage difficult customer interactions. Below you'll find a short summary of each session. Refer to the CCCSFAAA Annual Conference agenda for the exact meeting time and location.
- 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 given the shift from a 2-year to a 3-year calculation. Participants will discuss the benefits of a low cohort default rate and the consequences of a high default rate. The session will also focus on default prevention practices to help schools manage their CDR.
- R2T4 — Basics and Beyond: ED places an emphasis on R2T4 in school program reviews. This session will demystify the calculation for new and seasoned financial aid officers. It will also offer attendees some suggestions on how to improve the R2T4 process for their offices. The course explains the general principles of the R2T4 process, reviews the elements of an R2T4 calculation, and provides recommendations on how to avoid some of the more common R2T4 findings in a program review.
- Responding to Conflict: Strategies for Dealing with People on the Edge: This session will offer communication and stress management techniques for dealing with staff, students, and parents during these tough economic times. Session participants will complete an assessment of their style of conflict management. They will then discuss appropriate and inappropriate approaches to resolving conflict. Attendees will also learn about campus programs that provide resources to families and students in crisis.
Find out about other TG training opportunities
Would you like to learn more about the many training opportunities TG offers through its Speakers Bureau? Visit www.tgslc.org/speakers/index.cfm to browse the training catalog. Keep in mind that TG can adapt a training session to meet the needs of your campus. To find out how, contact your TG account executive at (800) 252-9743.
Join TG for its R2T4 session at upcoming CASFAA Conference
TG trainers will be presenting a session at this year's California Association of Student Financial Aid Administrators (CASFAA) Conference on one of the more challenging duties that a financial aid officer must perform — the return of Title IV funds (R2T4) calculation. Held in San Jose from December 12-14, the CASFAA Conference offers a great opportunity for learning about the latest developments in financial aid as well as administrative responsibilities such as the R2T4 calculation.
TG's session will help new and seasoned financial aid officers to understand and apply the R2T4 calculation. It will also provide suggestions for an effective R2T4 process. The course examines the elements of an R2T4 calculation and recommends ways to avoid some of the more common R2T4 findings in a program review.
To learn more about TG's trainings
TG offers a varied set of training opportunities through its Speakers Bureau. Visit www.tgslc.org/speakers/index.cfm to browse the training catalog. Keep in mind that TG can adapt a training session to meet the needs of your campus. To find out how, contact your TG account executive at (800) 252-9743.
Claim recalls: New email process
Effective immediately, TG claims announces a long-requested change in the claim recall process. Claims may now be recalled via email. To use this new service, simply send your recall request to recalls@tgslc.org. Claims will continue to be returned through the regular process. If you prefer, you may continue sending recall requests via fax to (512) 219-4514.
Have questions?
For questions concerning the claim recall process, please contact TG's assistant vice president of claims Ron Stroud at (800) 252-9743, or send an email message to ron.stroud@tgslc.org.
TG releases NSLDS submittal schedule for 2010
TG's data reporting team has released the TG National Student Loan Data System (NSLDS) reporting schedule for 2010. Please refer to the table below for specific submittal due dates. Here is an overview of the submittal process.
- Each month, a lender sends its Lender Manifest or Common Account Maintenance (CAM) records to TG by the date listed in the left column of the table.
- Behind the scenes, TG processes the file and updates its database.
- TG then sends loan changes to the NSLDS, which updates its system, making the most current data viewable to schools by the corresponding date in the right column of the table below. In this way, schools have the most recent data available on their borrowers in order to make subsequent borrower eligibility determinations.
2010 NSLDS Submittal Schedule
| Lender Manifest data received by 3 a.m. or CAM data received by 10 a.m. |
Data viewable on NSLDS |
|---|---|
| 1/8/2010 | 1/11/2010 |
| 1/22/2010 | 1/25/2010 |
| 2/5/2010 | 2/8/2010 |
| 2/19/2010 | 2/22/2010 |
| 3/12/2010 | 3/15/2010 |
| 3/26/2010 | 3/29/2010 |
| 4/9/2010 | 4/12/2010 |
| 4/23/2010 | 4/26/2010 |
| 5/7/2010 | 5/10/2010 |
| 5/21/2010 | 5/24/2010 |
| 6/11/2010 | 6/14/2010 |
| 6/25/2010 | 6/28/2010 |
| 7/9/2010 | 7/12/2010 |
| 7/23/2010 | 7/26/2010 |
| 8/13/2010 | 8/16/2010 |
| 8/27/2010 | 8/30/2010 |
| 9/10/2010 | 9/13/2010 |
| 9/24/2010 | 9/27/2010 |
| 10/8/2010 | 10/12/2010* |
| 10/22/2010 | 10/25/2010 |
| 11/12/2010 | 11/15/2010 |
| 11/24/2010** | 11/29/2010 |
| 12/10/2010 | 12/13/2010 |
| 12/22/2010** | 12/27/2010 |
* Note that, due to the holiday, the data will be viewable on Tuesday instead of Monday.
** Keep in mind that, due to the holiday, lenders must have their updates in on Wednesday.
More information
For more information on TG's submittal schedule, contact TG's data reporting team at good.data@tgslc.org.
New Financial Aid for Rookies module available: Professional Judgment
TG offers a new addition to its Financial Aid for Rookies (FAR) training modules. The FAR modules have been developed to provide Web-based, on-demand training on the fundamentals of financial aid to TG's school customers. The modules provide training for new staff members as well as no-cost support for staff that simply need a refresher course in financial aid processes.
In this module, participants will examine professional judgment principles in the Higher Education Act and discuss various situations requiring professional judgment, including dependency overrides and awarding unsubsidized Stafford loans to dependent students who lack parental support.
Other FAR modules include:
- History and Philosophy of Financial Aid
- Federal Aid Application Process
- Student Eligibility
- Verification
- Cost of Attendance
- Need Analysis and EFC Calculation
- Financial Aid Packaging
- Satisfactory Academic Progress
More information
Please visit the FAR Web page on TG Online for more information about this resource, and to view all of the training modules and quizzes.
Help your spring grads go from grace to repayment with TG's brochures
The grace period has ended or will soon end for May and June graduates with Federal Stafford loans. By November 30, most such borrowers, along with students who have dropped below half-time, will enter repayment. Offer them some helpful resources as they make the transition into repayment during a challenging time in the job markets. You can inform them of their financial obligations with TG's printed materials, which anticipate their questions and define their options in repaying loans.
TG's printed help
TG's brochures and envelope stuffers offer several advantages. They remind and educate borrowers about their debt. They answer questions many student loan borrowers have about deferment, forbearance, and consolidation. And they provide a helpful overview of repayment options like Income-Based Repayment.
Here's a look at particular items you can order through TG and mail to graduates or students.
- Managing Repayment: This publication outlines loan management options for borrowers experiencing financial difficulties. The brochure explains deferment, forbearance, consolidation, and alternative payment plans, and provides a list of the top 10 ways borrowers can avoid default.
- Income-Based Repayment: This brochure describes the newest repayment plan, which could potentially benefit a variety of borrowers of federal student loans, including those experiencing difficulties in meeting their student loan payment. For borrowers who qualify, Income-Based Repayment, or IBR, sets an affordable monthly payment based on income, federal student loan debt, and family size. TG's brochure defines IBR and offers a number of repayment examples that illustrate the possible payment amount reduction under the IBR plan. The brochure also describes how borrowers can apply for IBR and lists the types of loans that are eligible to include under an IBR plan.
- Repayment Plan Options: This TG brochure offers a concise overview of the differences among plans, including the Standard, IBR, Graduated, Extended, Income-Sensitive, and Consolidation repayment plans. A table supplies a handy comparison of all plans based on sample loan amounts. The table compares plans by monthly payment amount, term limits, total interest, and total amount paid. For borrowers who find themselves unable to make payments, the brochure also offers a short description of deferment and forbearance.
- Frequently Asked Questions: TG offers a concise yet comprehensive source of help with this brochure, which details answers to perennial questions such as "What is forbearance?" or "Is consolidation right for me?" The brochure also provides instructions on what students should do if they begin receiving bills while still in school, or if they can no longer make payments on a student loan.
To order the brochures
You can order TG's brochures online. To order any of the items listed above, visit TG Online.
More about TG's default prevention activities
TG's default prevention team works with schools and lenders to prevent student loan defaults. The team also works with borrowers by offering information about default and repayment. If you have questions about how you can use the team's service in your default prevention work, contact Rett Anderton or Joe Braxton, TG's default aversion consultants. Rett Anderton may be reached at (800) 252-9743, ext. 4765, or by sending an email message to rett.anderton@tgslc.org. Joe Braxton may be reached at (800) 252-9743, ext. 4696, or by sending an email message to joe.braxton@tgslc.org.
TG's List Assist℠ now offers alternative lender survey support
On October 30, TG released an enhanced version of List Assist℠, an online tool for managing surveys used in creating a recommended lender list. The latest version of List Assist provides schools and lenders with the ability to administer survey requests about alternative student loans.
For schools, List Assist has been enhanced to include information such as education level and graduate program for alternative loan surveys. School users can also use a library of survey questions that now offers questions specific to FFELP or alternative loan types.
For lenders, enhancements allow users to view key information on every page of the survey response, such as education level and graduate program for alternative loan surveys.
User Guide and online help
Information on the latest enhancements is available through List Assist's User Guide and online help. The User Guide is located on the List Assist Main Menu under the Resources section.
To learn more
If you have questions about the latest changes, or would like to register to use List Assist, please contact your TG account executive at (800) 252-9743. You can also send an email message to relationship.management@tgslc.org.
