Federal Updates

Reminder of changes effective July 1
The various changes to the Title IV programs that have been authorized in the last year — many with July 1, 2008, effective dates — may have left your mind swirling, but a review of the upcoming changes impacting the student loan industry should help put your mind at ease.

Variable interest rates drop
ED announced last week that for the first time since 2004, interest rates on Stafford and PLUS loans with variable interest rates will drop, by 3.01 percent. The new rates will be effective from July 1, 2008, to June 30, 2009.

TG Updates

TG to host symposium on financial literacy counseling
TG is hosting a symposium that brings together experts from the higher education community who will discuss strategies for implementing on-campus financial literacy programs. Such programs teach students crucial financial literacy skills they need to succeed in life after college.

Webinar notice: TG offers training on product enhancements and industry issues
On July 1, new regulations on various aspects of the federal loan program become effective. TG will be implementing enhancements in its AdvanTG Web™ and TG Loans By Web™ to accommodate these changes. TG is offering several webinars to introduce schools and lenders to these enhancements and to help address current industry issues.

Trends and Issues

TG's director of public benefit operations Kristin Boyer works with schools to make college a reality for more students
Kristin Boyer brings two considerable strengths to her job: her career-long dedication to the cause of higher education and her genuine love for what she does. As director of operations for TG's public benefit program, Kristin helps lead TG's philanthropic efforts in college access and retention. Each day, she serves as steward for TG's program, ensuring its long-term direction and working closely with schools and other institutions.

TG and Mapping Your Future® announce updates to counseling sessions
Mapping Your Future has updated eight Online Student Loan Counseling (OSLC) sessions to comply with regulatory changes and to add consistency to the text.

Question of the week
May a school choose whether to participate in the TEACH Grant Program?

This, That, and the Other...

In collaboration with financial aid professionals, ED's Office of Federal Student Aid (FSA) has designed management assessment modules to help schools enhance their services. The modules contain links to applicable laws and regulations. FSA's information features examples of specific compliance issues and provides recommendations for related assessments that your school may want to complete.

You can find the tool at http://ifap.ed.gov/qahome/fsaassessment.html.