August 2, 2011 - Edition 615 TG
Shoptalk

Industry Update

President signs Budget Control Act of 2011 into law
The legislation provides an additional $17 billion in funding over two years for Pell Grants; eliminates the subsidy for Stafford loans made to graduate and professional students; and discontinues interest rebates for Stafford and PLUS loan borrowers for new loans first disbursed on or after July 1, 2012.

ED establishes GE reporting deadline for 2010-11 award year
ED issued a notice in the Federal Register that announces the gainful employment (GE) reporting deadline for the 2010-11 award year. The notice indicates that schools must report GE information for the 2010-11 award year no later than November 15, 2011.

ED issues Dear Colleague Letter on dependency overrides
Dear Colleague Letter (DCL) GEN-11-15 describes the conditions and documentation necessary for granting dependency overrides. Financial aid administrators have the ability to use professional judgment to grant dependency overrides for students with unusual circumstances on a case-by-case basis.

NSLDS Gainful Employment Submittal Template to be released
ED issued electronic announcement #14 informing schools that the online reporting method using the NSLDS GE Submittal Template will be officially implemented on September 26, 2011.

TG Report

Learn more about the program review process with upcoming TG webinar
TG's webinar describes common program review findings and highlights strategies and compliance resources that can help reduce risk of a finding.

When we talk "debt," what do students hear?
For some students, speaking the language of "debt" may be a sign that they have not only joined the world of grown-ups, but that they have joined the "haves" of that grown-up world. This means it could be hard to convince a student to borrow only what's necessary. There is a way to help students appreciate the long-term consequences of debt — a financial literacy education.

Smart Solutions
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News Briefs

The master's is the new bachelor's — at least according to recent research, which indicates that a master's degree is becoming the coveted, even essential, degree in terms of job advancement for a growing number of professions. According to federal statistics, the percentage of master's degrees awarded has risen dramatically since the 1980s, particularly in the last several years. Nearly 2 in 25 people age 25 and over have a master's, about the same number that had an undergraduate degree or higher in 1960 when baby boomers were entering the workforce. The increase makes sense given the order of information that professionals now have to command to be competitive in technology and information fields. Learn more about the trend in master's degree attainment.