Posted Date:May 13, 2016
| Author: | Brenda Wensil, Chief Customer Experience Officer, Federal Student Aid |
Subject: Messaging for Student Loan Borrowers Leaving School
New graduates and borrowers often have questions about their loans and repayment. It’s important that federal student loan borrowers understand the terms of their student loans and the flexible repayment options that are available to them.
Here are some new resources you can use to help communicate with borrowers about their repayment options:
E-mail Template (NEW): Proposed e-mail language you can send to borrowers who are graduating or leaving school. Feel free to customize the language to fit your needs.
Digital Outreach Resources (NEW): Visit financialaidtoolkit.ed.gov/digital-outreach to access sample social media posts, messaging guidelines, blog posts, infographics, presentations, videos, and fact sheets that you can use in your outreach to borrowers.
Here are some existing resources you can share with federal student loan borrowers to help them understand the repayment process:
Repayment Basics: Send borrowers to StudentAid.gov/repay for details about loan repayment. Borrowers can learn how to make payments on their loans; find the right repayment plan; figure out what to do if they can’t afford their payments; and see what circumstances might result in a loan being forgiven, canceled, or discharged.
My Federal Student Aid: Borrowers can log in at StudentAid.gov/login to view their federal student loan information, including loan balances, interest rates, and loan servicer contact information.
Repayment Calculator: Borrowers can use this tool at StudentAid.gov/repayment-estimator to compare different monthly payment options based on their loan debt, income, and family size.
Repayment Options (NEW): Borrowers can use this interactive tool at StudentLoans.gov/repay to get help choosing a student loan repayment option in five steps or fewer.
We hope these resources are helpful.