Federal Updates

ED releases FY 2006 cohort default rates
On September 15, ED released the official cohort default rates for FY 2006.

Loan Purchase Commitment Program guidance
On September 9, ED released Electronic Announcement (E-ANN) #26 regarding the implementation of the loan purchase programs authorized by the Ensuring Continued Access to Student Loans Act (ECASLA).

NSLDS Newsletter #19 available
On September 10, ED released NSLDS Newsletter #19, which identifies NSLDS changes already implemented due to the College Cost Reduction and Access Act (CCRAA), and upcoming changes that will be completed by December 31, 2008.

TG Updates

TG grant helps Vernon College provide an early college start to students
According to a recent study conducted by the Community College Research Center, dual enrollment not only opens college doors for students, it also has a positive effect on their grade point averages. Vernon College is one such college working with local high schools to provide dual enrollment to students.

Gear up for fall training with these TG workshops at regional and state conferences
Keeping up with changes in the law and regulations, and the latest trends in financial aid management is one of the more important tasks for a financial aid administrator. Workshops and seminars offer a great way to stay informed on financial aid and industry issues. TG's trainers will be offering opportunities for program knowledge enrichment at numerous industry conferences this fall, including events in Kansas, Louisiana, Tennessee, Ohio, and New York.

Trends and Issues

Four things students should know before they apply for a credit card
Financial aid officers may understand the particular vulnerability students have with regard to credit cards. Students often find credit cards to be useful in a pinch; unfortunately, their use can quickly turn into a habit. Luckily, you can help your students set and follow a pattern of smart credit card use. In so doing, you help safeguard their financial future and promote smart money management.

Question of the week
Does the 30-day delayed disbursement rule for Stafford loans apply to a student who is a first-time borrower who has already completed a term?

This, That, and the Other...

Financial literacy training is becoming a more popular offering on college campuses, according to a survey released by Student Lending Analytics, a college advisory firm.

Nearly 40 percent of financial aid administrators surveyed said their colleges provided financial literacy training to students. Of those who said their colleges did not offer such a program, half indicated the institution planned to start one soon. However, only 15 percent of respondents said that financial literacy programs were mandatory for students.

Budgeting, planning for loan repayment, credit cards, identity theft, and understanding a credit report were the most popular topics covered in a typical financial literacy program, according to the survey.

To learn more about the rise in financial literacy programs on college campuses, read the complete Chronicle of Higher Education article at http://chronicle.com/news/article/5108/financial-literacys-profile-rises-on-college-campuses.

Note that The Chronicle of Higher Education requires a paid subscription to review some content.