Student loan default isn’t strictly a student issue or a financial aid issue; it affects everything from enrollment to graduation rates.
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.
Web-enabled solutions are allowing institutions to optimize recruitment and admissions processes for both students and faculty, while streamlining processes and increasing efficiency with dynamic online student applications, forms, and workflows.
As the academic retail industry faces unprecedented changes in student behavior and rapid advances in technology, one thing is clear: campus bookstores need to rise above the transaction. Today’s campus bookstores must focus on delivering a superior experience that supports and celebrates the cultural and academic aspirations of students, faculty and alumni.
One out of every two colleges and universities today are considering implementing a virtual payments strategy to reap the financial rewards and streamline payment operations.
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.
As more students, faculty and staff request to use their personal mobile devices for accessing institutional information and systems, university leaders are faced with the challenge of separating and managing access for educational purposes from the personal settings and content on the device.
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.
Demand for academic video from the “YouTube generation” of students is growing at an astronomical rate, and universities large and small are evaluating how best to harness the power of video to meet this new level of student expectations and broaden the reach of their institutions.
Communicating with student loan borrowers helps support their success in repaying their student loans and improving your institution’s cohort default rate. If staffing limitations prevent your institution from connecting with your borrowers, partnering with external vendors may be the solution.