Talking to a student making sure they have all the information they need, making sure they are prepared to take on the responsibility of going to school and paying us back.
During our enrollment process here, all students meet with a Tuition Planner to discuss their loans, interest rates, and payment options when they do need to be paid back. Being educated and having a professional answer your questions, I believe, makes a big difference.
I agree. The more we can offer financial aid literacy while the student is in college the better they understand their loan status.
I think speak with students multiple times throughout their program about student loans and educating them of the importance of staying on top of their loans after graduation is one of the most helpful things that a school can do for their students.
Make sure that the student is educated to the best of our ability on student loand and how they work
Being open to the students about the negative potiential outcomes of student loans. Encourage students to only take out the amoount needed for their education is key as well!!
usually, a student's school loand begin to come due 6 months after graduation. I think it would be a good idea to have a counselor speak with the student upon graduation and explain what they should be anticipating in 6 months time.
educate the students on the importance of following thru- getting education, finding a job to start your career so you can pay back student loans
Getting a job/career that pays enough to cover the monthly loan payment is obviously important, but the graduate has to realize the consequences of defaulting on the loan even when things get tough. When loans extend for a decade or more, many things can happen that can impact on a person’s ability to pay.
Establish a permanent team of full time staff to work with students on default prevention. In addition to the entrance and exit loan counseling sessions, offer additional information and awareness sessions about the importance of, and the need to pay back student loans.
HavIng a default prevention specialists to assist and educate the students before going into repayment also institution has implemented a default prevention team to help the students.
educate your students and have them prepared and you will see a successful person.
Educate the student - make sure they understand everything they are getting into.
I believe the most important thing an institution can do to prevent default on student loans is to increase awareness from the beginning and stay consistant in educating the student until the end. The student loan is a huge investment and should be treated just like a first time homebuyer. Educate, evaluate and educate more if necessary. I believe all schools should teach "safe debt" in light of our economic times.
Inform students, increase awareness and educate on options.
Stacie,
Yes, making sure students are fully informed will make the process more successful.
Kimberly Stein
I believe it's very important for students to know what to expect throughout the process from the day they enroll. Knowing exactly who they need to talk to about their financial aid, and when their status changes so they are always informed before hand.
I completely agree. If the student understands that Federal Student Loans are NOT to be used inappropriately and that any, and all loans must be payed back according to established standards or harsh financial consequences are put in place, students then understand the importance of completing the chosen degree program.
I think best practices is to ensure that each student is required to read through loan disclosures. I also feel that there should be additonal financial aid counseling given to students specifically dealing with the terms of their loans.
Make sure that the student knows the cost of the program. That student loans are "loans" and they will have to be paid back.. Make sure that they know "financial aid" doesn't mean free..
