Default Assistance
Just because a student is in default does not necessarly mean you cannot be of service to them. If you work closely with your financial aid team then perhaps they will be able to assist the student that is in default with some solutions to get their defaulted loans back in good standing. What you will gain then is a greatful student that will return to you to enroll once their loans are out of default.
It is good customer service to assist the student in default to meet with our student financial service department to assist the student in making a plan to get out of default. Once the student sets up a plan of action, I make sure to follow up with the student until the process is complete and they are in good standing. Some students truly are ignorant of how these things work, and feel very appreciative when someone takes the time to walk them through it and help them stay motivated to acheive their goals.
This is just one more step for the individual in attaining their ultimate goal. It only takes a little bit of our time but it makes a lasting impact on their lives.
I also agree. In our roles it's easy to get caught up in the cycle of enrolling students. It's most rewarding to always do what's in the best interest of the student. In some cases that's helping them get out of default. Everyone wins in this scenario.
I couldn't agree more! I have worked with students to make sure that they understand who they can speak with and get the correct and current information necessary to help them to get out of default. Even though not all of the students take advantage of the opportunities out there to get in better standing with their lenders, some do and they are grateful for the help and trust that we want to see them succeed because we have already established a relationship of assistance to see them reach their goals.
I agree. I've had a few instances where our financial services department was able to help the student speak with the lender and put a plan together to resolve the default. The result no matter what the default outcome, is typically a thankful student.
A prospective student that is in default, should be treated just like any other student. At our institution our default prevention coordinator has worked with students and has been successful in providing them the tools to be eligible for financial aid once again. I've heard students say they appreciated the assistance because no other school offered this service to them.
We have recently begun to have our default prevention representative work with prospective students that are in default. Sometimes it takes months to get the potential student make in good standing but once they are, I agree they are really grateful for the help. Sometimes people are just overwhelmed and ignore notices because they don't know what to do.
you can have the student call the us dpt of education consolidation to help them consolidate if they are in defualt..
Alethia,
I agree. It is a great best practice to educate and assist students on getting out of default. It is not something we it required of us to do but many of the students either are not even aware that they are in default or they do not know how to begin the process of getting out. It allows the student to continue their education and begin to repair their credit.
