click to add title presented by. 1 st …. some statistics 20 million americans attend college each...
TRANSCRIPT
Click to add titlePresented by
1st…. Some Statistics
• 20 Million Americans attend College each year
• 60% borrow annually to cover education costs
• 37 Million student loan borrowers in U.S. as of 1st quarter 2012» 5.4 Million borrowers have at least 1 past due student loan
• $902 Billion to $1 Trillion dollars are in outstanding student loan debt in the US today» Average debt: $24,301 per student
• 65% of student loan borrowers misunderstood or were surprised by the aspects of their student loans or the loan process
• National Student Loan Default rate is 8.8% (FY2009) = 3.3 Million borrowers
35% of recent grads, said if they had to do it again – they would have pursued more scholarships or financial aid options, got a job while attending or started saving earlier.
Why Care?
• Most student’s first experience with debt is related to education costs
• Students often need help in understanding money management while on campus and for the future
» More focus on courses, less stress
• Creates proponents of higher education and your campus
• Avoids over borrowing and ruining credit ratings» Helps the economy
• Controls Default Rates at your Institution» Affects funding options
• Creates active and happy alumni
Resources to help!
www.YouCanDealWithIt.com
Borrowers
Learning about education debt and how to manage
Borrowers – STUDENT AID 101
Research topics on education funding. Click on a topic to receive additional information
Borrowers – MAKING PAYMENTS
Topics to understand options of repayment
Borrowers – TROUBLE PAYING
Options and Tips for Repayment
Borrowers – MANAGING MONEY
• Budgeting• Saving• Credit
Learn it Live it Love
it
Borrowers – CALCULATORS & RESOURCES
Figuring out what works best
Enter thenumbers
Explore Related websites
Borrowers – STUDENT AID TIMELINE
Tips for next steps
And beyond……………...
Borrowers – GRADUATE STUDENTS
Graduate School planning and tips
Borrowers – NON TRADITIONAL STUDENTS
Tips for starting or continuing education plans
PARENTS – from here to there
To help parents through the process
SCHOOLS – Debt Management
Tools for Financial Literacy and Default Prevention practices
Schools – FINANCIAL WELLNESS
Information, handouts & powerpoints to help you educate your students. Your HEAP can help with presentations on Financial Wellness
Schools – LEARNING MODULES
Helpful hints and activities to help with important topics like Retention and Exit Counseling
NEW: Entrance Counseling on this page!
Schools (Learning Modules) –
RENTENTION / EXIT COUNSELING
Tips…. and …..Tools
Schools – DEFAULT PREVENTION
Start
Here!
School – Default PreventionTHREE STEP LETTER SERIES
Scroll on the website toSee how to obtain copies of letters from: AES, FedLoanServicingor other Servicers
It helps when students hear from you!
Schools – Default PreventionDEFAULT AVERSION ROSTER
Keep track of possible default issues
Scroll on the website tosee how to obtain pre-default rosters from: AES, FedLoanServicingor other Servicers
Schools – Default PreventionCOHORT DEFAULT RATES
Learn more about your school’s Default Rates, how to read and protect them
Schools – CALCULATORS & DOWNLOADS
Tools for calculating Repayment Optionsand Managing Repayment Issues
Add them to your websites
Web Banners to add YouCanDealWithIt.com to Your School Site for quick access
Schools – HOW TO USE THIS SITE
Free Tips and Resourcesfor use in Educating,Assisting &Monitoring
www.YouCanDealWithIt.com
How to create Financial Literacy using YouCanDealWithIt ?
Enhance your Exit and Entrance Counseling
Include debt management topics in Freshman Experience/101 classes
Add to your Career Counseling workshops
Use Clubs and RA’s to talk about the message
Include YCDWI brochures around campus
Link www.YouCanDealWithIt.com to your websites
PHEAA can help create and provide plans using your:- Higher Education Access Partners and
- Fed Loan Servicing Representatives
THANKS!Questions?Comments?What’s in place - sharing?Who’s ready to start?
Linda Pacewicz
PHEAA, Higher Education Access Partner