Thomas,
You have identified one of the beast reeasons to do a group counseling session. Students learn from each other's questions, and then they can schedule one-on-one time with you if they have concerns specific to themselves. I find that each time I have done a group exit session the questions help remind me of points I should make in the next session, so the students help the presenter as well!
Diana Mateer
We used to just do entrance counseling, and one-on-one exit counseling. About 3 months ago we started doing group exit counseling for all our upcoming grads. We have found this to be quite successful because questions arise that some of the students had not thought of and this helps to answer questions they didn't even know they had.
Dale,
I think you will find the results to be very successful. Students will leaarn from the loan counseling presentation as well as from each other in a group setting. Often students ask questions that others are reluctant to ask, and everyone benefits from the answers. Good luck!
Diana Mateer
I intend to work diligently on improving our group sessions. I am excited to see the result.
Dale,
It is a great idea to hold in-person group sessions for exits as your primary or even supplemental exit process. I have found that students are very attentive during group sessions at the end of their programs, when they need the most practical information about their upcoming repayment.
Also, students in a group tend to reinforce one another and benefit from each other's general questions. It is also beneficial if you can access outside resources, either materials and/or speakers, to supplement your school specific information. Diana
We will be improving our default prevention department by offering additional group seminars to students nearing graduation. The purpose of this is to reinforce the information the student receives from Financial Aid during the Entrance and Exit process.
While it is unpleasant to talk about default consequences, you are correct in that we all probably need to emphasize them more. When students realize from the very beginning how serious student loans are, they are more likely to pay attention to all of the rights and responsibilities you explain to them during student loan counseling. I am even telling students now how default can negatively impact employment possibilities.
Your idea to conduct a personal financial seminar for all students is highly recommended. Then you are taking a whole student approach rather than just covering their student loans. I think a financial literacy seminar or program will surely benefit your default management efforts.
At the time of the final financial aid interview, we explain to students that they will need to attend entrance and exit counseling sessions at the beginning and end of their program. We explain that there will be important information provided to them to help manage their student loan debt during and after program completion. I think that we need to take a more realistic approach in advising students of the negative affects of defaulting on their student loans such as a thorough explaination of how it will affect their ability to borrow money for mortgages and autos. Possibly conducting an in-depth personal finance seminar to all students.
Ashley,
If you set the expectation that all students need to complete exit interviews, even if they withdraw, at least some will follow through, particularly if they go through a formal withdrawal process. Of course, there will always be students who withdraw unofficially, and in those cases you may be unable to make the contact necessary to share exit interview information in any way other than simply mailing it. Another attempt you might make to reach out to these students is to locate them through the references they left while enrolled in the program, because if you can talk with them in person that is of course a better opportunity to provide exit information.
Diana Mateer
The largest challenge is of course on the exit side of counseling. Since students who drop without notice are more difficult to contact and meet with. We have instituted a policy to inform students that exit interviews are a shared requirement from both the institution as well as the student and encourage them to remember to stop by the financial aid or fiscal office to complete an exit interview prior to their separation.
Moises,
It's great that you are thoroughly covering the alternatives to delinquency during your loan counseling. When students understand the many options they have with student loans to solve financial difficulties such as economic hardship or unemployment, they are more likely to exercise these options and never become delinquent in the first place.
Diana Mateer
We empahisize the ways students can avoid deliquency. The entrance and exit counseling procedures definitely cover all the points.
I suggest putting in a life skills course within the curriculum. At least the attempt is there and they have something to study and reflect on.
Asking questions to ensure they understand what you have told them is great. Simply providing the information and expecting them to grasp it all in unrealistic. Ensuring that they walk away with at least 5 major points that they fully understand will increase that students chance for success.
When doing an entrance as well as exit counseling it is important to provided the information and also ask your student questions because it’s one thing just feeding them the information and it’s another thing them actually understanding what you have explained to them. We give the information one-on-one but it all depends on the individual method of learning and understanding, so we usually ask them questions about the information we gave to them.
Regular contact with students helps reinforce the positive relationships you have already established during their time in school. Borrowers will ultimately be more comfortable contacting staff members who have supported them along the way.
I think that meeting with the student on a regular basis will help them monitor their progress. Giving them updates' makes it easier for everyone to be on the same page when it does come time to entrance and exit counseling.
It is great to be able to provide students with a one on one experience when possible. Understanding that they are taking out a loan which needs to be repaid can't be stressed enough. This is a great time to make sure the student is familiar with how to check their loans on NSLDS so they know how many loans they have and who their servicers are.
One by one entrance and exit counseling is very important .We also educate students for understanding how important to repay their loan and we also provide workshop where financial Aid staffs can meet and explain to the students in details to understand what they are signing.
Both options have value to them and a combination helps to express the importance of the information you are providing. A group setting can be effective when it is interactive. Often someone will ask question that someone else may have been afraid to ask.
