Creating a Successful Campus Default Prevention Plan Sarah Arno Staff Accountant/Default Manager Tri-State Cosmetology Institute Jennifer Steed Financial Aid Counselor Grayson County College

Tri-State Cosmetology Traditional default prevention plan –One-on-one entrance counseling –Exit counseling for both drops and grads –Letter campaign utilizing in-house letters as well as grace period notifications provided through TG –In-house default prevention specialist who uses both phone calls and home visits to help students who are delinquent get current or apply for a deferment or forbearance –Third-party default prevention company

Tri-State Cosmetology New campus-wide updates to default aversion plan –Financial literacy and money management training provided for students –Faculty training and involvement seminars held twice a year –Attendance monitoring to help identify “at-risk” students and additional default counseling provided while the student is still in school –Default presentation at every new student orientation highlights the consequences of defaulting and the options available to students –On-campus, dedicated computer provided for students –Job placement specialist assists unemployed students searching for a job, and locates delinquent grads who are working

Grayson County Community College Recent updates to the default aversion plan: –Feature a default aversion committee –Use delinquent letter templates available from TG’s Integrated Default Assistant ™ (IDA ™ ) –Make in-person exit counseling sessions available –Require students to complete Loans By Web™ and sign a new MPN annually –Require annual entrance/exit counseling –Offer a new financial literacy session at the south campus –Provide a default aversion training session for almost 100 faculty members

Grayson County Community College Future changes to the default aversion plan may include: –Training new administration who are not familiar with the financial aid process or default rate methodology –Continuing to make default aversion important to all areas of campus –Posting signs with loan repayment information in all campus bathrooms –Offering financial literacy sessions during both campuses’ success series (and possibly College 101 program) –Continuing to hold regular default aversion committee meetings

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