Description
Federal student loans payments have been on pause for over two years. During this time, student loan borrowers have been exempted from making payments and the majority of schools have been exempted from any negative impacts on their CDRs. This pause reflects the significant decrease in the national CDR for the past few CDR cycles. This session will be a brief discussion to address the importance of reviewing the IHE Loan Record Detail Report (LRDR) postrelease of the draft and official CDRs. Also, we will emphasize the importance of reaching out to borrowers to provide them with loan repayment options before they go into default. We believe this session will better prepare schools with the tools to manage the possible increase in default rates in the coming years. With a thorough review of the LRDR and strong borrower contact initiative, a school may pre-empt a high CDR in the forthcoming Fiscal Years.
Presenter(s): Marcus DeCosta and Kecia Merrick-Ross