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SUNY Initiatives NYSFAAA Annual Conference 2012 October 2012.

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Presentation on theme: "SUNY Initiatives NYSFAAA Annual Conference 2012 October 2012."— Presentation transcript:

1 SUNY Initiatives NYSFAAA Annual Conference 2012 October 2012

2 SUNY Smart Track An innovative and transparent system wide approach to promote awareness and understanding regarding college choice, college financing options and responsible loan borrowing

3 SUNY Smart Track Helps students make the right choice in college and how to pay for college! If borrowing is part of that plan, students must understand their rights and responsibilities to make informed decisions

4 National Research Strong financial literacy tools can assist students in making informed decisions with respect to loan borrowing Keeping students engaged promotes retention and increases completion rates Students who complete their education are more likely to become successful student loan repayers- regardless of the amount borrowed

5 SUNY leads the nation We want to make sure our students and their families make the right choices by providing the right tools and guidance throughout their time at any of our campuses… Standard award letters, education and financial literacy and on going student engagement is the formula for SUNY students to achieve success!

6 SUNY Smart Track will help students stay out of default Data driven approach to student retention and default prevention using federal and SUNY data to identify at risk borrowers Creates targeted and measurable campus interventions to mitigate risk Develops student engagement strategies for all borrowers beginning with loan disbursement thru grace period and repayment Additional strategies for delinquent borrowers and defaulted borrowers

7  Adopts the federal shopping sheet format  Costs are displayed  Type of aid clearly displayed-loans vs grants  Campus comparison data-graduation rates, cohort default rates and median loan debt SUNY Award Letter

8 SUNY Student Loan Service Center Expands services to include communications with students throughout their time on campus and beyond Assists former students who are delinquent or in default on a loan they borrowed while attending one of our campuses

9 Financial literacy Loan payment estimators Responsible borrowing Successful repayment planning Web Based Learning Center

10 At risk students receive targeted interventions All students receive communications based on plan developed in collaboration with campus Customized at each campus Student Engagement

11 On Boarding Process Program description and expectations to College Presidents Letter to College President-notification of schedule and request for campus contact designation Coordinate campus meeting Initial campus meeting to collaborate on campus plan Authorization for NSLDS data

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