Good Credit Letters
I like the idea of sending Good Credit Letters to students who are making cash payments to the school on time. We've never tried this and I am curious if anyone else has and what kind of response they have experienced.
I also think it is a good idea to send Good Credit Letters. This is directly connected to establishing a relationship with the student. Sometimes people don't remember what you do or what you say, but they will always remember how you made them feel. Making the students feel that the school is a friend and not an enemy is critical in Default Management. I'm going to try and implement these letters at my school.
I couldn't agree with you more. The more connected a student feels with an insitution, the better chance of them not defaulting. Good Credit letters are definitely a good way to help the student have positive reinforcement with the insitution. We do not currently incorporate this strategy; however, I will definitely be bringing it up with the registrars office.
Seems like a good idea...not too much work with hopefully a payoff in the long term. Anyone know of any templates for an effective letter?
I think this is a great idea as well. We are very good at letting students know when they are not making payments; a great incentive would be to reward them when they are making consecutive, on-time payments. I am going to discuss this with our bursar and see if we can implement a plan to send these letters to our students. Great idea!
WOW! What a great idea. It is like a huge light bulb just went on. Something so simple creating such incredible benefits. Not only is it a positive way to get and maintain current address information, it is a great positive reinforcement to may keep a student paying their debt even if times get tough. . . just to get that peice of paper that says "you have established good credit" -- a simple pat on the back goes a long way.
