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How High is Too High? Focusing Your Limited Resources to Effectively Reduce your Rising Cohort Default Rate. Dave Macoubrie Vice President of Repayment Solutions. Objectives. Understand the 3-year default rate calculation. Goal and expectation alignment. Planning for action

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How High is Too High? Focusing Your Limited Resources to Effectively Reduce your Rising Cohort Default Rate

Dave Macoubrie

Vice President of Repayment Solutions


Objectives
Objectives

  • Understand the 3-year default rate calculation.

  • Goal and expectation alignment.

  • Planning for action

  • Activities while students are in school.

  • Grace period transition.

  • Successful repayment assistance techniques.

  • Evaluating success.

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Repayment success
Repayment Success

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


What are our challenges
What are our challenges?

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Trends in national default rates
Trends in National Default Rates

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


2009 3 year cohort default rates
2009 3-year Cohort Default Rates

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.



Understanding the cohort default rate calculation
Understanding the Cohort Default Rate Calculation written permission from Inceptia.


Cohort repayment denominator
Cohort Repayment (Denominator) written permission from Inceptia.

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Cohort default numerator
Cohort Default (Numerator) written permission from Inceptia.

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


3 year rate f ormula
3 written permission from Inceptia.-year Rate Formula

September 30, 2011

October 1, 2010

September 30, 2012

September 30, 2013

Enter Repayment

Track Default Status

Track Default Status

Track Default Status

FY 2011 3-year CDR

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Goal alignment
Goal Alignment written permission from Inceptia.

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Where can i make a difference
Where can I make a difference? written permission from Inceptia.

2012

2013

2011

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


3 year cohort default rate schedule
3-Year Cohort Default Rate Schedule written permission from Inceptia.

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Training in school
Training (In-School) written permission from Inceptia.

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Training in school1
Training (In-School) written permission from Inceptia.

  • Entrance and Exit Counseling

  • Campus-wide team support

  • Financial Education

  • Extenuating circumstances

  • Data Analysis & At-Risk students

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Example
Example written permission from Inceptia.

Kick-off Event: Oct. 3, noon. Meet peer financial counselors, get information on how to manage student loans, and enjoy games, free food and prizes. Goal and expectation alignment.

Ice Cream Social: Oct. 12, noon. Learn about loan repayment options.

Lunch and Learn: Oct. 19, noon to 1 p.m. Have a free lunch with loan repayment experts from the Financial Aid Office. Learn about student loan repayment strategies, including Income Base Repayment and Public Loan Forgiveness.

Wonderful Wednesday: Oct. 24, 11 a.m. to 2 p.m. Meet financial counselors and enter a drawing.

Information Session: Oct. 31, noon to 2 p.m. Peer financial counselors will discuss money basics; a money management slideshow will be provided.

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Race day grace
Race Day (Grace) written permission from Inceptia.

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Race day grace1
Race Day (Grace) written permission from Inceptia.

  • Send E-mails

  • Make Telephone Calls

  • Offer Financial Education

  • Use the NSLDS Early Stage Delinquency Assistance report

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Riding the repayment race
Riding the Repayment written permission from Inceptia.Race

NSLDS DELQ01 Report

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Who can i help
Who can I help? written permission from Inceptia.

  • Do I work with all delinquent borrowers or only those that are in active cohort years?

  • How many days of delinquency do I allow to pass before I start helping?

  • What efforts do I give to PLUS and PLUS Grad borrowers?

  • If this borrower is in the cohort denominator and is delinquent, but can’t default by then end of the year, what efforts do I provide?

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


How do i help
How do I help? written permission from Inceptia.

  • Send E-mails

    • Protect Personally Identifiable Information

    • Use multiple addresses when possible

    • Allow them to “op-out” if they choose

    • Include a telephone number they can call back to

    • Include self-help websites if you have them

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


How do i help1
How do I help? written permission from Inceptia.

  • Send letters

    • Can include Personally Identifiable Information

    • Include the servicer name and telephone number for them to call directly if they choose

    • Include a telephone number they can call back to

    • Include self-help websites if you have them

    • Include a personalized signature line if possible

    • Try different types of enveloped and colors to entice them to open.

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


How do i help2
How do I help? written permission from Inceptia.

  • Make Telephone Calls

    • Verify identity before providing any information

    • Have the servicer name and telephone number quickly available

    • Call at different times of day and days of week.

    • Provide a call back number when you leave messages

    • Have forms ready to be e-mailed

    • Conference call student with servicer when possible

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Final thoughts
Final thoughts? written permission from Inceptia.

  • How will you track efforts?

  • How do you measure success?

  • Do you have the right number of staff and the optimal hours of Operation?

  • How will you train staff initially and ongoing?

  • Do you have security in place to protect your staff?

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Crossing the finish line
Crossing the finish line written permission from Inceptia.

Confidential. Do not copy or redistribute without expressed written permission from Inceptia.


Questions
Questions? written permission from Inceptia.


Contact information
Contact Information written permission from Inceptia.

Dave Macoubrie

Vice President of Repayment Solutions

402.479.6867

[email protected]

Inceptia.org

Follow us on Twitter | @Inceptia


Thank you
Thank you written permission from Inceptia.


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