Buzzing Borrowers with Delinquent Loans Amber Bohlen - Marshalltown Community Bob Brooks - Kaplan Katy Rush - Scott Community College Rick Johnson – TG HigherEDGE

AGENDA Forming a borrower contact outreach group Identifying borrowers with delinquent loans Creating a focused approach Developing your borrower talk-offs School panel and audience discussions

FORMING A BORROWER CONTACT OUTREACH GROUP  Step 1 : Form an outreach group that will contact and work with borrowers who have delinquent loans  Which offices on campus have staff that can lend time towards this effort?  Financial aid  School Services  Others?  How much time per week, or per month, can they commit?  Contact rate goal?

SAMPLE OUTREACH GROUP  FA director  FA senior loan counselors  FA default manager  FA customer service  Registrar  Admissions representatives  Career services  Institutional research  Retention office  Administration  Academics  Campus customer service  Alumni affairs  IT  Student representative  Student affairs

IDENTIFYING BORROWERS WITH DELINQUENT LOANS  Step 2 : Identify borrowers who have delinquent loans from your school  Run a Delinquent Borrower Report (DELQ01)  Provides a report of borrowers who have been reported as delinquent in making loan payments to one of the federal loan servicers  For more current borrower contact information or delinquency questions, contact the borrower’s federal loan servicer 

CREATING A FOCUSED APPROACH  Step 3 : Decide which borrowers you will focus on based on their level of delinquency  Where will your time pay off the most to stop default?  Borrowers 241 days or more delinquent  Borrowers days delinquent  What is the best way to make borrower contact?  By mail, or by  By phone  By text  Social Media

DEVELOPING BORROWER TALK-OFFS  Step 4 : Be prepared to discuss borrower options as soon as you make contact with the borrower  Borrower contact outreach group must be able to help the borrower on the spot!  Did the borrower withdraw instead of graduate?  Did the borrower graduate but does not have a job?  Is the borrower working but can’t make the payment?

DEVELOPING BORROWER TALK-OFFS (CONTINUED)  Outreach group must learn:  Deferment and forbearance options  Ins and outs of all repayment programs  Forgiveness and discharge options  School completion options  Job placement options  Lookup borrower on NSLDS  How do I contact their servicer?  Do they have loans from other schools?  How will you skip trace a borrower

SCHOOL PANEL AND AUDIENCE DISCUSSIONS

CONTACT INFORMATION  Rick Johnson TG Corporate Account Executive HigherEDGE Default Aversion Management (800) , ext  (512) direct