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Hawkeye Community College’s Default Prevention Program Gisella Baker Director of Financial Aid
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Hawkeye Community College’s Default Prevention Program

Feb 25, 2016

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Hawkeye Community College’s Default Prevention Program. Gisella Baker Director of Financial Aid. HISTORY. Responsible Borrowing Initiative: One on One Loan Session One on One Unsubsidized counseling Full Withdrawal Counseling LIVE Suspension seminar: Yes You Can. - PowerPoint PPT Presentation
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Page 1: Hawkeye Community College’s Default Prevention Program

Hawkeye Community College’sDefault Prevention Program

Gisella BakerDirector of Financial Aid

Page 2: Hawkeye Community College’s Default Prevention Program

HISTORY

• Responsible Borrowing Initiative:One on One Loan Session

• One on One Unsubsidized counseling

• Full Withdrawal Counseling

• LIVE Suspension seminar:Yes You Can

Page 3: Hawkeye Community College’s Default Prevention Program

CURRENT EFFORTS: Communication prior to Enrollment

• Speak at Experience Hawkeye Days (Visit Days) to prepare students for college

• Have specific Financial Aid Experience Hawkeye Day

• Speak at Mandatory Orientation Sessions prior to students registeringHave Q&A session for family members

Page 4: Hawkeye Community College’s Default Prevention Program

CURRENT EFFORTS: Prevention

• Table at Student Health Fair, Wellness Fairs and during FA Awareness Month to give information on managing their debt to decrease stress

• Visit College 101 classes

• “Stall Street” News for anyone on campus

Page 5: Hawkeye Community College’s Default Prevention Program

• “Hawkeye Happenings” for instructors to pass information along

• Parent Newsletter

• Constant Up to Date Information on website

• FA Advisor Tables in Cafeteria

CURRENT EFFORTS: Prevention Cont.

Page 6: Hawkeye Community College’s Default Prevention Program

CURRENT EFFORTS: Early Intervention

• New and Improved Responsible Borrowing online

• New and Improved Suspension ProcessAcademic Compliance FormYes You Can Seminar online

Page 7: Hawkeye Community College’s Default Prevention Program

CURRENT EFFORTS: Before they leave school

• Require In-Person Exit Counseling Sessions for GraduatesHold official transcriptsHold College Diploma

Page 8: Hawkeye Community College’s Default Prevention Program

CURRENT EFFORTS: After they leave school

• Send forbearance and deferment forms to those incarcerated

• Send out postcards every other month to borrowers in delinquent status– Complete monthly– Tailored to Loan Servicer

• Keep Skip Tracing up to date

Page 9: Hawkeye Community College’s Default Prevention Program

RECENT EFFORTS• Teamed up with Business Office– Enclose Repayment Information with 1098Ts

• Teamed up with Career Services Center– Refer to help with resumes– Keep up to date contact information

• Increased Financial Literacy Awareness

• Requiring Game Plan as more hands on preparation for borrowing-in inclusion to Entrance Loan Counseling

Page 10: Hawkeye Community College’s Default Prevention Program

• Teamed up with other offices to incorporate different ideas to College Strategic Planning to help with keeping Default Rates down:

Early Intervention Program (Look at midterm grades and requiring mandatory meetings with advisors and completing a mandatory “FA Consequences of withdrawing from school and not meeting SAP standards session)

Make College 101 classes mandatory

RECENT EFFORTS

Page 11: Hawkeye Community College’s Default Prevention Program

IN THE WORKS

• Utilize new methods of contacting students

• Create understandable registration statement comparing bill & financial aid on the school portal

• Outsourcing Default Prevention

• Hire full time default prevention person

Page 12: Hawkeye Community College’s Default Prevention Program

IN THE WORKS• Work in conjunction with UNI-CUE and IHaveAPlanIowa.gov

• Start call system with telecounselors

• Hawkeye Alumni testimonies

• Send reminder in Graduation Survey

• Regular LIVE chat sessions promoting different financial literacy topics

Page 13: Hawkeye Community College’s Default Prevention Program

Gisella [email protected]

(319)296-4465