Ongoing communication with your student loan borrowers is a proven best practice for preventing loan defaults and promoting successful student loan repayment. There are a variety of strategies that can help to identify those most at risk of default, conduct initial and ongoing outreach programs, and communicate the best options to students for loan repayment.
Higher education institutions face several challenges when it comes to affordability. But with the right business office plan, colleges and universities can reduce student accounts receivable while maintaining enrollments, improving retention, and providing quality customer service.
Students today want more options when it comes to their refunds, and institutions are looking for disbursement methods that limit students’ exposure to fees. In addition, the increased scrutiny and mounting regulatory pressure regarding student refunds disbursement is creating an even greater need for higher ed leaders to reexamine the refund processes at their institutions.