December 8, 2009 - Edition 532 TG
Shoptalk

Industry Update

ED releases trial three-year cohort default rates
ED announced that to assist schools in understanding the impact of the new three-year cohort default rate (CDR) calculation, it has calculated and is making available unofficial trial three-year CDRs for the last three cohorts for which there are data to support a three-year calculation (fiscal years 2005, 2006, and 2007).

ED issues reminder on requesting Status Information Letters from Selective Service
ED released an Electronic Announcement advising schools that the Selective Service System is currently receiving an unusually large number of requests from schools for Status Information Letters.

TG Report

Offer your June graduates an electronic way of staying on top of repayment
As the grace period for June graduates ends, you're probably considering how to help your former students as they transition into one of the more challenging markets of recent years. TG offers online assistance in terms of loan repayment with its Web-based loan account management tool, myTG℠, a convenient way to monitor payment history, download repayment forms, and update details of personal information.

Options, resources, information: TG Online helps borrowers make sense of repayment
Students face a series of hurdles after they collect their diploma, including starting a career, relocating in some cases, and establishing a financial base by which to manage any outstanding debts. Add student loan repayment to these objectives and you have the makings for one of the more confusing transition periods in a graduate's life. TG's corporate Web site, TG Online, provides borrowers an extensive set of repayment resources.

Meet UNT's Paul Goebel, Financial Counselor of the Year
Paul Goebel has served as director for the University of North Texas' Student Money Management Center since its inception. During his tenure, he's helped transform the center from a two-person operation into a dynamic financial literacy program. In the process, he's been recognized by peers nation-wide for his passion and committed advocacy for student.

Policy Report

Common Manual Updates
Guarantor representatives who serve on the Common Manual Governing Board have approved several changes to the Common Manual. Details on these changes and a newly updated Integrated Common Manual incorporating the changes will be available on TG Online. These changes will appear in the Manual's next annual update.

Ask the Policy Expert
What options are available for resolving a defaulted loan?

Meet Paul GoebelPaul Goebel
Paul Goebel is director of the Student Money Management Center at the University of North Texas. He is also AFCPE's Financial Counselor of the Year. See this week's profile.

Smart Solutions
Interviews make for strong first impressions. Help your graduating seniors ensure that first impression is a calm, self-assured, and memorable one with interview tips from Adventures In Education (AIE™).
News Briefs

If you've ever watched an auditorium's worth of graduates file up to accept their diplomas, you may have wondered about the origin and meaning of the costumes they wear, specifically the gown and mortarboard. Typically worn just a few times in a person's life, the black robe and distinctive headgear have a long history dating back to the Middle Ages. During that period, scholars at Oxford, Cambridge, and other European universities were often ordained as priests. Today's graduation gown has evolved over time, and with many changes, from the early utilitarian habits and robes that these ecclesiastical academics wore. The mortarboard has a similar origin. Made up of two pieces — the skullcap and the board — the mortarboard developed from religious caps that priests donned in medieval times and even earlier. The cap appeared in its present form probably during the Renaissance as a modification to earlier graduation caps. Variations in color, length, cut, fabric, and decoration to the cap and gown are many. Differences come as a factor of degree (e.g., master's, doctorate), country (English gowns differ from American as well as from other European gowns), school (faculty wear widely varied hoods and colors depending upon the college), and much more. If you're curious about the varied customs and history of today's graduation regalia, you'll find lots of literature on the topic, including A History of Academical Dress in Europe by W.N. Hargreaves-Mawdsley.