March 22, 2011 - Edition 596 TG
Shoptalk

Industry Update

ED provides supplemental guidance on four Program Integrity final rules topics
On October 29, 2010, ED published the Program Integrity final rules encompassing new federal requirements on 14 topics for schools participating in the Title IV programs. TG has developed a collection of information resources and TG Tools, available on TG's Program Integrity Final Rules Web page, to help schools understand and implement the new federal requirements.

TG Report

Last funding day for TG's Electronic Funds Transfer (EFT) service extended
Earlier this year, TG announced that it would retire AdvanTG Web™, its loan management system, and Electronic Funds Transfer (EFT), its electronic disbursement tool for federal and private loans, by June 30, 2011. Since that announcement, TG has extended the last funding date for its EFT service to June 24, 2011. However, schools, lenders, and servicers will be able to access and download reports on the EFT website through June 30, 2011.

TG offers financial literacy program on savings and investing
Savings, rule of 72, compounding interest, retirement plans-these are all concepts that are essential to anyone who wants to establish a firm financial future. They are also ideas that can be difficult to communicate, particularly to students with little to no prior experience managing their money. TG invites students to explore these concepts in the context of a circus through "Saving and Investing: Risks and Returns," a financial literacy module offered through the TG Financial Literacy Program.

TG offers advising and planning checklist for college-bound seniors
There are a lot of steps involved for students who have decided to go to college — decisions that include choosing which school that is right for them and figuring out how to get in the door. While they're making these decisions, however, they could miss a few equally important steps. To help college-bound students along in their path, TG has developed a worksheet to guide them in asking and getting answers to important questions that will ease their transition to college. The "College Advising 101 Worksheet" is available in both printed form and in PDF to help students along the way.

Research opportunities, security best practices among topics to be presented at TG Annual Training Conference
To support the ongoing knowledge needs of student financial aid and higher education professionals, in addition to Default Aversion, Financial Literacy, Higher Education and College Access tracks on Wednesday and Thursday, TG has included sessions on such topics as research and security among its offerings at the TG Annual Training Conference. Consider these workshop opportunities as you plan your attendance.

TG trainers to present sessions on transitioning to 3-year CDRs and policy knowledge at SCASFAA Conference
Join TG experts for several training sessions at the upcoming South Carolina Association of Student Financial Aid Administrators (SCASFAA) Conference to be held April 10-12 in Columbia, SC. TG trainers will provide a comprehensive overview of the 3-year cohort default rate, including important elements with which schools should become familiar. In a separate session, trainers will invite workshop participants to have fun while demonstrating their knowledge of federal student aid policy, regulations, and the law.

Smart Solutions
TG's weekly e-newsletter, AIEmail, is a great source for information on events, news, advice, deadline reminders, and more related to higher education and financial aid. Offer it as one of your outreach resources for families. Students and parents can subscribe to AIEmail online.

News Briefs

Necessity breeds innovation. This certainly can be applied in the classroom, particularly when it comes to finding creative ways to help students develop an interest in learning financial literacy. For one elementary school in Texas, an inventive teacher and several highly enterprising students have taken their classroom, their class activities, and their interactions to create a virtual "economy," going so far as to charge monthly rent for the use of school desks, and to pay "late fees" for turning in late assignments. On the positive side, students "get paid" for good grades, in an effort to reinforce how positive performance in the workplace pays off once they enter the "grown-up world." Read more about how this elementary school teacher and her enterprising students have turned their classroom into a "financial literacy laboratory" in the Victoria Advocate.