The most important thing an institution can do is provide excellent education and a strong career services department. Career services should contact every student before they graduate and go over services available, etc.
I believe that reinforcing the importance of our students obligation to be able to pay as they are capable of during their pursuit of graduation is important. This limits the out of pocket payback that accrues while not making payments during their schooling. Plus how to make sure that they consider their loan debt a bill and treat it importantly once they graduate.
We need to make sure students are well informed and understand the financial commitment they are making.
Prevention, prevention, prevention! We do take initiative in hosting workshops to new students as well as graduates. I have hosted several scholarship workshops as well. The more information the better!
I agree with that. I never really thought about it but discussing it throughout would probably keep it fresh and help them.
Information sharing is of the utmost importance.
They need to complete entrance and exit loan counseling and should meet with FA if/when any questions arise.
Our financial aid team does a great job of really going into detail so the student knows exactly what to expect. We also ensure that they are committed to becoming graduates before we enroll them into our school
Extensive and focused entrance and exit loan counseling.
Counsel them thoroughly before and after completion. It is important for them to know that the debt will be there unless it is paid and can ultimately ruin their credit otherwise.
I feel that education is the best policy. Keep bringing them back in and revisiting the area of budgeting and letting them know what is out there to help.
Review Loan Management Skills in a College 100 course to remind students what to expect during their time in college.
Consistent and constant loan counseling throughout the students time at the college is imperative. Requirements are during the students initial Financial Aid appointment and at the time of student's exit from the school. Student's should review loan counseling materials any time that the student visits Financial Aid for renewal of loans.
The best way we can help prevent students from defaulting on their loans is to be up front an honest about all costs and loan periods that the student will have to take part in. It is our responsibility to make students fully aware of their financial obligations prior to attending school. It mayt not be an easy conversation to have, at times, but it is absolutely necessary.
we talk about student loans and have a loan help desk that services questions or counceling for all of our students
Education of the student on their responsibilities and the long term consequences of defaulting on their loans. We have a staff member who has been in banking for 30+ years who will help guide students in debt management.
I agree how important it is to make the students aware of not defaulting on laons. Our campus goes over laon counseling from their first visit to the campus and while in school as well as wehn they grad out. The more we as a school can teach people the better off the student will be when completed.
I think entrance and exit counseling is very important but also budgeting and money management classes for future success are helpful.
I believe to stay in compliance and work with the Financial Aid Department on following up with students. Following up with them consistantly will help
Workshops for unskilled computer users helps their confidence too
The most important thing to help prevent a student from default is to educate/counsel then before, during and upon graduation on their financial obligations or investment in obtaining a dgree and the importance of repayment.
