September 7, 2010 - Edition 570 TG
Shoptalk

TG Report

TG's September financial literacy symposium to focus on UT Austin's financial literacy program, Bevonomics
TG concludes this year's financial literacy symposia with a free, one-day financial literacy symposium to be held at the TG Campus. The symposium, which features a presentation on the University of Texas at Austin's financial literacy program, will be partly simulcast so that remote participants can view the presentation and participate in subsequent virtual discussion.

Looking to do more with less? TG's session at the 2010 MASFAA Conference may help
Colleges and universities continue to be affected by the stalled economy and shrinking state budgets. Putting in place new or better customer service practices may help streamline office management and potentially cut costs. On October 18, TG presenters will be offering "Best Practices in Customer Service" at the 2010 Midwest Association of Student Financial Aid Administrators (MASFAA) Conference.

Four things your borrowers should know as they begin the semester
TG's default aversion consultant Cindy Marrs offers four ways you can help students and parents better manage student loans.

How TG's Counselors Network can serve your outreach efforts
If your institution works with local high schools encouraging students to explore the college option, you'll find a great resource to offer high school counselors in TG's Counselors Network. Counselors Network is a free, monthly newsletter that serves as a conduit of college information, resources, and activities that could benefit college-bound students.

Industry Update

Reminder: Official FY 2008 CDRs to be issued September 13
On August 31, ED issued an electronic announcement indicating that official FY2008 cohort default rates (CDR) would be published on September 13, 2010. As part of the notice, ED indicates it will send CDRs and documentation to the individual school's Student Aid Internet Gateway (SAIG) mailbox provided the school is participating in the electronic CDR (eCDR) process.

Policy Report

Latest IFAP postings
Announcements on award year processing, cohort default rates, and the Federal Register, among other things, are compiled in this article.

Smart Solutions
TG recommends that borrowers pursue all their federal loan options before considering taking out a private loan for educational expenses. However, if your students have exhausted their federal student loan options and would like more information about a private, educational loan, offer them an overview of the subject through TG Online.
News Briefs

Last February, a new bank law went into effect that provided better consumer protection to credit card users, including college students. As the fall semester begins, Bankrate.com offers a profile of the law — and a helpful reminder to both schools and students about its advantages. The Credit Card Accountability, Responsibility and Disclosure, or Credit CARD, Act of 2009 instituted a broad range of protections, including prohibitions against issuing cards to adults younger than 21 — unless a parent co-signs for the card or the individual can show an independent source of income. Among other things, the law prevents banks or card issuers from offering free gifts in exchange for applying for a card, and requires campus organizations to disclose any business relationships they may have with credit card companies.