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Work Closely with External Partners to Promote Default Prevention

External PartnersInternal Partners
  • Take advantage of services offered by guaranty agencies, lenders, and lender servicers such as:
    • Supplemental due diligence.
    • On-line account access.
    • Default management reports.
    • On-line entrance and exit counseling via the Web.
  • Invite industry experts in to train financial aid office staff on default prevention methods.
  • Assist with skip tracing activities.
  • Develop a relationship with guaranty agency default prevention or claims and collections representatives to facilitate communication of any special circumstances pertaining to delinquent or defaulted borrowers.
  • Provide the guaranty agency, lender, and lender servicer with the name and phone number of a contact person at the school who can assist with the immediate completion of deferments, enrollment histories, or skip tracing.
  • Request the assignment of a contact person for the times when circumstances require that the processing of forms be expedited in order to prevent default.
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