June 15, 2010 - Edition 558 TG
Shoptalk

Industry Update

ED requests emergency clearance for SAFRA payments to loan servicers for retaining jobs
The SAFRA Act requires ED to commit $25 million to distribute to eligible FFELP servicers by the end of FY 2010 and another $25 million by the end of FY 2011. In a recent Federal Register notice, ED requests that the Office of Management and Budget (OMB) grant an emergency clearance for all documents necessary to implement these funds.

ED answers Direct loan transition questions via webinar
ED held the first of two webinars designed to answer questions for financial aid administrators at schools that are currently transitioning to The Federal Direct Loan Program. In the first of two articles, TG summarizes a number of pertinent answers based on topics covered during the webinar, including Student Aid Internet Gateway and Common Origination, and Disbursement and ED servicing.

ACG “previously enrolled” language corrected in Federal Register
A revised edition of the Federal Register corrects the regulations that govern a first-year student’s eligibility for the Academic Competitiveness Grant (ACG).

TG Report

A short guide to TG FFELP processing as FFELP originations conclude
The July 1, 2010, implementation date for the Federal Direct Loan Program (FDLP) is fast approaching. TG offers reminders to schools about processing loans through TG during this period.

TG to host industry panel discussion on IBR at NASFAA Annual Conference
For the upcoming National Association of Student Financial Aid Administrators (NASFAA) Conference, TG will moderate a panel of industry experts, including representatives from a school, lender, and TG, who will address particular questions on IBR and offer insight on how better to inform borrowers about the plan.

TG’s upcoming July regional trainings to focus on industry change and team dynamics
TG has scheduled a number of regional trainings for July at locations in Texas and Georgia. TG’s regional trainings offer a forum in which to learn the latest regulatory developments as well as focus on strategies for improving office processes.

TG’s Jeff Webster to participate in panel discussion during ACFSA Spring Hearing
The Advisory Committee on Student Financial Assistance will host a Spring Hearing on June 25. TG’s assistant vice president of research and analytical services, Jeff Webster, will participate in a panel discussion featured in Session I of the hearing. The panel will address the committee’s report The Rising Price of Inequality.

Reminder: Sharpen your industry skills with upcoming TG webinars
TG's free webinar series on industry topics continues over the next few months, including a webinar for this coming Thursday on changes in federal student aid programs.

Policy Report

Ask the policy expert
Q.: Is a school required to send the borrower a notice when it returns funds to the lender due to a student withdrawal?

Smart Solutions
Will incoming freshmen be visiting your campus this summer? Help them get the most from their experience with TG's tip list for campus visits. You'll find it along with schedule planners, college repayment charts, and more through Adventures In Education.
News Briefs

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