1. SB 0887 Student Debt Letters Lessons Learned
Sam Houston State University – Student Money Management Center
Patsy Collins – Director, SMMC
Sharon Wright – ERP Analyst,

2. Agenda SB 887 Mandates Disclaimers Kat Tracks Decisions Pain Points
Discussion

4. What is 60x30? Educated Population Completion Marketable Skills
Student Debt

6. SB 0887 Mandates

7. What is SB 887?
This act requires institutions of higher education to provide students, at least annually, estimates regarding their education loan debt in an electronic form.
The disclosure to the student must include an estimate of the total amount of federal, state and alternative education loans incurred by the student, an estimate of the total payoff amount, or a range for that amount, including principal and interest, and an estimate of the monthly repayment amount that the student may incur.

8. Summary Starting 2018- 2019 Academic Year
Schools must - annually, in electronic format
Provide loan debt to all enrolled students with student loan debt even if loan was from another institution
Includes state, federal or other educational loans (alternative/private loans), if known to the institution
Total payoff, including principal and interest – at a minimum based on 10 year repayment plan

9. Disclaimers

10. Disclaimers/Disclosures
The debt letter is not a complete and official record
An explanation regarding why the disclosure may not be complete
Examples:
Does not include any alternative and/or state loans taken while in attendance at another institution
Current year loans for transfer students
Timing
A statement that the institution’s estimates are general in nature and are not intended as a guarantee or promise

11. Kat Tracks – SHSU Path Buy-In
Campus Collaboration - Formed a Committee due to THECB 60x30 Initiative
Sub-Committee: 60x30 Student Debt Advisory Committee
One of the action items: Send out Student Debt Letter; U.S. Mail
Discussed Best Practices; Reviewed their Student Debt Letters with:
Indiana University
Montana State
University of Missouri
Now that the mandate is electronic; Updating process
Buy-In

12. Data Mining for Information
THECB – Information should come from NSLDS
Financial Aid History – Deemed best resource
Problematic for Banner school
Functional Area indicated that a re-run of FAH after awarding could throw C flags; Aid would back off; C flags would need to be cleared manually
Temporary Resolutions
Late in the year: Use first-run 18-19
Utilized the AY First Financial Aid History for 17-18
Combined with NSLDS Report: SCHLL1 – School Loan list
Ellucian – Texas Connection
Placed a TCC Request for Texas Enhancement (RTE)
Will attend TCC Conference EOW

13. Decisions

14. Decisions Needed What department is going to be responsible ?
Where does the data reside?
Outsource vs. In-House; Will custom process be created or will you use a 3rd party (Example: Great Lakes or Inceptia)
Who will draft letter? (Students!)
Will you send letter to legal for opinion?
Maintain documentation for audit purposes
Statistical data; Mine the Data
Process for returned letters/undeliverable s
When and how often will you send letters/ s
Once per year
Every term

16. Pain Points

17. Pain Points Collaboration Validation/reconciliation of information
Party responsible
Party owning data
Validation/reconciliation of information
Sheer quantity of data
Frontiersman; Little guidance
Initial efforts mandated with no additional manpower or funding
Lack of chocolate

18. Where is SHSU process now?
TCC
IT creating process
Audit/Verification of Numbers
The Press; On-hold
U.S. Mail; Letter and Insert
Still eating chocolate!
Anticipated Mail Out Date; 1st full week of July

19. THECB Student Debt Letter - Webinar
Save the Date:
June 4, 2018
9:30 a.m. – 11:00 a.m. CST
The Texas Higher Education Coordinating Board (THECB) has scheduled a webinar with Indiana University (IU) leadership and staff to assist you with implementation of Senate Bill (SB) 887. IU was the first institution in the nation to send students a debt letter to inform them about the amount(s) they borrowed and what they should expect to pay off their loans. SB 887 was modeled after Indiana’s House Bill 1042, which scaled IU’s initiative statewide.
This webinar will be webcast; the video link will be available on THECB’s home page the morning of June 4.

20. Reference Info & Websites
TX SB887 –
NSLDS –
THECB –
60x30 –
Great Lakes – mygreatlakes.org
Inceptia – htps://

21. Questions or Comments?