5 November Ways to Reduce Student Loan Default for 2016

Posted by Joe Crosby on 11/16/15 7:30 AM

Office productivity is, understandably, lower from Thanksgiving week through New Year's Day. December to-do lists can very frequently be ignored when there are so many other things to do.

Instead of feeling guilty about not getting to your default prevention activities, hammer out one or two of these actions in the next week.

You'll take steps to help student borrowers and you'll free up your December for important issues like which holiday lights look best in your office.

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Topics: Student loan default prevention

Sending Default Prevention Emails? Personalize For Better Results.

Posted by Joe Crosby on 10/9/15 2:00 PM

Reaching out to delinquent borrowers through email is one of the easiest and cheapest ways to perform outreach to prevent default. 

The delivery is clean (and free).  You can attach helpful documents, add images, and easily link to their servicer's site or to tips to make repayment.

One problem -- the student borrower needs to open the email for it to be an effective tool for default prevention.

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Topics: Student loan default prevention

Why Financial Literacy? An Aid to Persuade (infographic)

Posted by Joe Crosby on 5/20/14 3:59 PM

Is this you? 

  1. You don't need to be sold on the importance of financial literacy for your students. You get it. Many of your students are making their first foray into the world of loans and credit and without a little guidance they could easily make financial mistakes that could have lasting implications.

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Topics: Financial literacy, Student loan default prevention

Becoming a Statistic With The Rachel, Two Monicas, and 81¢ gas

Posted by Joe Crosby on 5/14/14 4:54 PM

The National Center for Education Statistics projects that roughly 3.75 million students will graduate this year. A Pew Study report finds that half will soon wish that they gained more work experience and 29% would like to go back and choose a different major. 

How about you? If you could go back and do it over again, what would you do differently? 

For me, I'd make different college funding decisions. You see, life for a college student in the late 1990s was pretty great. "The Rachel" hairstyle was offering some New York style to my central Minnesota campus, the most serious story in the news (the impeachment of our president due to the Monica Lewinsky "situation") was considered a punchline for most people, gas was 81¢ a gallon, and the job market for college grads couldn't have been better. Unfortunately, I was about to join a group that would make me just another statistic. 

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Topics: Student loan default prevention

5 things student loan borrowers need to know (with infographic)

Posted by Joe Crosby on 5/7/14 6:05 PM

You’re about to bid farewell to a genuinely solid group of students. Your school probably has an inspiring commencement speaker planned.

Bad news: The speaker called in sick.

Good news:  The president of your school tapped you on the shoulder and said – “I’ve been watching you and I like the jib of your cut. This year, you’re giving the commencement speech, Dana.”

Your name isn’t Dana, but it’s the president so you jump at the chance, but with little preparation time do you go to the clichéd commencement speeches of “follow your dreams” or “love what you do”? Or do you go to your wheelhouse and give student loan borrowers these 5 great tidbits; the kind of advice and guidance that will bring them to their feet in a tearful standing ovation? 

Make the bold move. . . and make a difference . . . and don't forget the Kleenex.

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Topics: Financial literacy, Student loan default prevention