February 22, 2011 - Edition 592 TG
Shoptalk

Industry Update

ED releases 2-year draft cohort default rate data
On February 14, ED released the fiscal year (FY) 2009 draft 2-year cohort default rate (CDR) data. A number of schools identified issues with receiving and accessing the data last week. Other, less obvious issues were identified by schools upon a closer inspection of the data. A careful review of the files provided by ED is needed to detect the latter type of errors.

ED's G5 website unavailable March 4 through March 14
ED provided an e-announcement to remind schools that the G5 website will be unavailable beginning 3 p.m. Eastern Time on Friday, March 4, through 6 a.m. Eastern Time on Monday, March 14.

Legislative report
President Obama's FY 2012 budget proposes a five-year freeze on domestic discretionary spending, including all Title IV student financial aid, except Pell Grants. The Republican leadership has already made a counter-proposal, which would cut further from entitlement programs. Read more about the latest legislative developments online.

TG Report

TG adds industry resource to Web page for Program Integrity final rules
To help schools implement Program Integrity final rules, TG offers a new NCHELP resource that schools can use to search for a particular topic and view the corresponding regulatory cites, final rule changes, and provision's effective date.

2011 TG Annual Training Conference to feature extensive default aversion sessions
TG's conference will offer a series of workshops designed to help schools understand key default aversion concepts and strategies. These sessions will also provide a great opportunity for learning what other colleges are doing to enhance campus default prevention efforts.

TG sets key dates for retirement of loan management and disbursement services
TG recently announced the decision to retire AdvanTG Web™ and Electronic Funds Transfer (EFT) and prompted customers to begin planning for any transition needs. Since this announcement, TG has established several key timeframes that customers should keep in mind as they plan.

TG Financial Literacy Program module explains compensation to novice job-seekers
That first job offer can open up a whole series of questions about compensation for young job-seekers. TG's Employee Compensation: Beyond Salary demystifies compensation, explaining the elements of compensation and helping students determine whether a salary offer is adequate for their needs.

Policy Report

Ask the policy expert — Program Integrity issues
Will the new verification rules affect schools that are currently allowed to establish their own verification criteria under the Quality Assurance (QA) Program?

Smart Solutions
TG's College Advising 101 Worksheet: Planning Your Transition to College poses a series of questions to help students prepare for college, including building an academic plan, tracking financial aid, learning about a college's financial aid process, and anticipating campus life. The worksheet is available now in both Spanish and English.
News Briefs

Some 19 million students enrolled for the fall 2010 semester can't be wrong — higher education pays, right? Definitely, according to the College Board's "Education Pays 2010" report that details earnings potential and a list of social benefits that may cascade from a college degree. Findings from the report show that individuals with a higher education degree, or even with some higher education, have access to more job opportunities, higher rates of pay, and better health care. (Median earnings of bachelor's degree recipients working full-time year-round in 2008 were $55,700, more than $21,000 more than median earnings of high school graduates.) College graduates also tend to be healthier, to vote more often, volunteer with civic organizations, and prepare their children for college. The report included facts on enrollment disparities by income level and ethnicity. Review the complete report online.