Publication Date: June 12, 2001
Author: General Manager: SFA School Channel
Summary: Join us for National Default Prevention Day! Student Financial Assistance cordially invites your institution to come into the Training Facility located in one of our ten regional offices and in Washington, D.C. on August 2, 2001.
June 13, 2001
Join us for National Default Prevention Day! Student Financial Assistance cordially invites your institution to come into the Training Facility located in one of our ten regional offices and in Washington, D.C. on August 2, 2001. The ideal participant at this technical assistance session would be an individual who has a role in default prevention and in the delivery of Title IV funds.
Unless a school is required to submit a default management plan, all too often default management is limited to entrance and exit counseling. We all know the possible impact of a defaulted student loan: negative credit ratings, withholding of federal tax refunds, payment of additional collection costs, and garnishment. Students and institutions are entitled to the best possible methods that are available to reduce defaults. A successful default management program is becoming more of a priority with institutions as student loan debt continues to rise, along with the cost of education.
A variety of tools is available to assist institutions. Developed by the Department of Education and others in the industry, these tools are proven effective in reducing the Cohort Default Rate. These include videos, brochures, and websites. Participants will learn how to select from these tools and apply them effectively. We will also explore best practices, analyzing demographic data, possible changes to packaging and awarding philosophies, and tracking and projecting default rates. In partnership with your institution, SFA would like to be proactive in reducing defaults.
As a nationwide effort to reduce student loan defaults, we are sending this invitation to all institutions that participate in the loan programs. The seating capacity of each Training Facility is limited; so, please make your reservation before June 30. There is no charge to participate. Participants must arrange their own transportation and lodging. This technical assistance session will be an excellent opportunity to meet the staffs from the Direct Loan School Relations Office, Case Management and Oversight, Partner Services, and Debt Collections.
The session will begin at 9:00 AM and conclude by approximately 4:00 PM. Enclosed is a brief synopsis of the day’s activities.
In order to register please visit the following web site: http://bcol01.ed.gov/CFAPPS/SFA/register2a.cfm. If you have any questions, please contact any staff member listed on the enclosed page.
G. Kay Jacks