July 5, 2011 - Edition 611 TG
Shoptalk

Industry Update

ED publishes update on lender/servicer access to NSLDS borrower information
ED has modified the NSLDS Professional Access website to permit lenders and servicers access to borrowers only when there is an existing relationship between the organization and the borrower on NSLDS.

Information on treatment of Consolidation loan underpayments and overpayments now available
In a recent electronic announcement, ED reminds holders of loans eligible for consolidation of the long standing policy regarding underpayments and overpayments that may occur when ED pays off the underlying loans.

ED releases revised 2011-12 variable interest rate information
Recently, ED published revised FFELP variable interest rates, which include information that was not available when the rates were originally published.

TG Report

July 1 has arrived — need more help to implement the Program Integrity rules?
Most of the Program Integrity requirements need to be in place now. However, some of the provisions will affect operations later than others. TG has developed a chart to identify requirements that may have a slightly delayed operational impact on your campus.

Understand program reviews and prepare for the latest regulatory changes with help of upcoming TG webinars
Over the next several months, TG will offer webinars designed to give schools insight into key industry topics, including program reviews, the Program Integrity final rules, regulatory developments, and legislation affecting how consumers, and students, can use credit cards.

A financial literacy how-to: When spring break becomes a lesson on spending basics
How can we teach students money management skills in a way they can absorb and are more likely to apply? The short answer: Draw from real life.

Policy Report

Ask the Policy Expert — Program Integrity Issues
Q.: I think I have a gainful employment (GE) program at my school, but I need some help convincing other colleagues on campus that this is the case. What resources are available to help explain what constitutes a GE program?

Smart Solutions
Teach your students a lesson in credit card spending. TG offers a virtual shopping spree through the online Credit Card Skills Builder tool available through Adventures In Education. Among other things, the tool demonstrates how much more students spend by letting interest accrue on a credit card balance.

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News Briefs

In a recent New York Times column, Lynn F. Jacobs and Jeremy S. Hyman, authors of The Secrets of College Success, offer aspiring college students some practical information on making the most of their summer break before that first semester on campus. For starters, they suggest students "pre-orient" themselves for college orientation week, that is, browse the school's online course catalog, know course requirements for given majors, and check into the possibility of credit for any advanced placement classes taken in high school. To brush up on foreign language skills, the authors recommend students consider Internet sites where they can chat with native speakers of a given language. They also suggest students commit to volunteer work or do something "life-changing," such as traveling in a foreign country.