TG rolls out HERA/Grad PLUS changes in TG Loans By Web™
Submitted by Neil MacQuarrie, TG

The Higher Education Reconciliation Act (HERA) enacted changes to the student loan program, including expanding the PLUS loan program so that graduate students can take out PLUS loans. TG has implemented these changes in its online application software, TG Loans By Web™ (Loans By Web), and in its loan management tool, AdvanTG Web™. The AdvanTG Web implementation became effective on June 26, 2006. Effective September 16, borrowers using Loans By Web can request and complete a Grad PLUS loan. At the same time, schools that initiate the loan process can now direct students to Loan By Web to complete their Grad PLUS applications. Schools should also note that other HERA changes have been implemented in both Loans By Web and AdvanTG Web.

Student customers and schools that log in to Loans By Web or AdvanTG Web will find different features depending on how they use the software. Here is a short list of modifications. For a more complete list, refer to TG Online. (Select [For Schools | TG Loans By Web], and click the HERA Changes document in the left column.)

• In Loans By Web, borrowers requesting or completing a Grad PLUS loan will be able to identify themselves as a graduate borrower.
• Depending on their preferences, schools will be able to process either school-initiated Grad PLUS loans or borrower-initiated Grad PLUS loans or a combination of the two.
• Schools will now be able to specify which lenders they prefer for Grad PLUS loan processing.

Need help or want to know more?
For more information about these changes, contact TG Customer Assistance at (800) 845-6267 or send an e-mail message to cust.assist@tgslc.org. Customer Assistance team members can answer all your questions relating to TG’s implementing of HERA.