If you are actively working to bring down a high cohort default rate with a small staff, you have likely faced numerous frustrations – the inability to complete preventative phone calls to students ending a deferment or forbearance; insufficient contact with students during the grace period; and increasing numbers of students in the 30-90 days past due range who simply are not receiving enough attention.

Often, schools with high default rates operate in crisis mode- we call the most delinquent students as often as we can manage, focusing on late-stage cures. Depending on the size of your staff and… >>>

Over the weekend, I saw a travelling comedy troupe at a local festival. At a point in the performance where the actors were doing particularly embarrassing things for our entertainment, one joked about having a Master of Fine Arts degree but scraping together a living off tips at small events.  Then they made a joke that I have heard all too often- stay in school for ever and you’ll never have to pay back your loans.

And so today we have met the final student in our tale- borrower number three is the perpetual student.

The perpetual student has… >>>

Student number two is a pretend student. Believe it or not, I have met several educated adults who, when facing large credit card debt and car or mortgage delinquencies, enroll in school just to collect federal student loan funds.

These ill-informed people wish to solve a debt problem by taking on more debt, and they feel this is a good idea mainly because they don’t take student loans seriously. Too often I have heard people flippantly refer to student loans as debt that you don’t really have to pay back, either because they falsely believe that loans can be… >>>

Over the next three weeks, I would like to introduce you to three student loan borrowers whom I have met many times while pursuing my own education. While the academic programs and enrollment practices at our institutions may differ greatly, chances are that at least one of these problem students poses a threat to your cohort default rate.

First, there is the enthusiastically lost student.

This person is well-intentioned, and excited about being in school. She has no clear career goals, but she knows from watching the news that a degree, diploma or certificate is important for securing a… >>>

In a November FSA webinar, we were encouraged to consider many factors that can lead to default. While we often discuss the efficacy of exit interviews and strategies for contacting students once they are already delinquent, it was interesting to shift focus to the very early phases of enrollment, namely college preparedness and program selection. To address these topics, the goal of default prevention evolves out of the Financial Aid office and is embraced by entire institution. Every department, from Admissions to faculty, has a vested interest in the financial success of the organization and the personal success of every… >>>

Dr. Antonio R. Flores,
president and CEO of the Hispanic Association of
Colleges and Universities, did not have to dig deeply
to f ind compelling evidence that plenty of work
remains f or his organization to do to ensure that
his constituents are well represented in higher
education and the world at large.
Two screens in the ballroom Saturday displayed the
cover of the latest edition of Time magazine that
f eatured a headline of “The United States of Texas”
and a map to promote an article inside about the
state’s impact and inf luence on national issues.
Flores said… >>>

A newly released report from the National Center for Education Statistics (NCES) reveals the average cost of attendance and the net price of attendance for the 2011-12 academic year.  The report reveals that the costs varied by institutional sector.

Among full-time, first time degree/certificate-seeking undergraduate students receiving any grant aid, the average cost, for those attending public 4-year institutions, was approximately $18,300 and net price was about $11,700; for those attending nonprofit 4-year institutions, average cost was roughly $35,200 and net price was about $20,600; and for those attending for-profit 4-year institutions, average cost was approximately $27,000 and net… >>>

 Greg Gottesman is a Managing Director of Madrona Venture Group, a leading venture capital firm based in Seattle.  Here, Greg gives a TED talk discussing the problem of rising student debt due to rising costs of higher education.  He provides eye-opening data and suggests ideas for educating more students with less money.  

71% of all undergraduate students received some type of financial aid (including student loans) in the 2011–12 academic year.  For those who received any aid, the total average amount was $10,800.  That's according to the 2011–12 National Postsecondary Student Aid Study (NPSAS:12) study released by the National Center for Education Statistics (NCES).  This study represents undergraduate and graduate students attending postsecondary institutions in the United States.  

Other findings from the 2011–12 academic year include:

• 59% of undergraduate students received grants
• 42% took out student loans
• 6% received aid through work-study jobs
• 4% received veterans’ benefits
• 5% had parents

… >>>

It is important to remember that as a financial aid officer you need to be honest and care about what you are dong. You are the key to whether a student can go to school or not in most casesl.

this course really help me do better also to under stand it way better it make it were it break down how to understanted it to what happends .it also refer to terms and definitions for understanting of words and terminoglogy of used.

This educational video from the Consumer Financial Protection Bureau presents excellent data on the rising costs of Higher Education.  In what ways should this challenge be addressed?

You may also want to read:

• Consumer Financial Protection Bureau Releases Examination Procedures for Private Student Loans
• Cohort Default Rats Stabilizing: Is it Because of Regulation?
• Radio Higher Ed Podcast: A Conversation About Federal Student Loan Policy
• Will this be a Best Practice or Just Paperwork?

This course has reinforce our financial aid policies & procedures.  About 80% of what was covered I see on a daily basis.  Our third-party auditors frequently visit our office to inspect, train and mentor our operations.  Big Brother is constantly watching and I feel more confident because of it.  It reflects in the smiles of our students, the near 0% error rate we strive for and the school financial picture.

Financial aid is a daily challenge because of the diversity our our students and their challenges.

I can honestly say that employee's don't make it to the DOF level without being able to handle difficult interactions!  I just completed this course and it lays out a comprehensive plan for dealing with difficult people and conflicts, not only employee to employee but also for customer employee relations.  So many people do not understand Financial Aid and it's up to the FA Dept to diffuse the anger and confusion and replace it with understanding and acceptance.  This course  helps FA professionals deal with those angry students and/or parents so everyone leaves with at least a sense of understanding… >>>

Welcome to the brand new Financial Aid Performance Group! Simply put, this is the 80-20 rule in action! It’s probably safe to say that 20% of development is through formal training and 80% is through informal learning. We learn by doing and by sharing. So let’s get our learning community for Financial Aid started. Who is going to break the ice?