Communicate with students to prevent defaults
June 14, 2018
Effective communication is one of the key strategies in preventing student loan defaults.
With that in mind, however, determining what is effective for your students can be challenging. It may take some research and testing to see what works best for your students.
Following are some ideas for ways to communicate with your students about effective student loan management:
- Provide a calendar to students exiting your school - after you've marked their repayment start date on it
- Review your portfolio to identify students at high risk for default (if resources are limited, focus efforts on at-risk students)
- Start a peer counseling group on campus
- Require students on academic probation and re-entering students to complete a course which includes study skills and time management
- Work with borrowers after they leave school (make phone calls or send letters/e-mail to borrowers who are in grace or who already are delinquent)
- Monitor potential withdrawals and advise these students about their options
Engagement must be a part of any of your communication and/or default prevention strategies. Consider ways that you can create attention-getting and fun messages and events.
For more information, contact Cathy Mueller at email@example.com or 940-497-0741.