Discussing repayment options
How do you inform your students of the different repayment plans available to them?
From when the student enrolls to the exit interview we explain the repayment obligation.
During the enrollment, we begin by covering the different types of repayment plans that exist from the 10 year standard to the extended and also IBR and ICR repayment. Also, we let students know that if they do go into a 25+ year repayment plan they will pay more in interest and should try to stay in the 10 year repayment but if they aren't able to make those payments that's why the extended plans exist. If the students here it multiple times, it will more likely stick.
The exit interview is the most crucial I believe because at that time you can assist in setting them up with those plans with the servicers.
Hope this helps!
