learn how fl is used as a definitive approach to default management and prevention. learn about...
TRANSCRIPT
Learn how FL is used as a definitive approach to default management and prevention. Learn about marketplace resources that can enhance or direct your efforts. Measureable outcomes
should be a consideration priority – so how do you measure?
Why Financial Literacy is an Important Part of your
Default Management Strategy
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What’s the trend?Why are many rates up?
Newly Reported CDR
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Let’s talk management first In house efforts
Focus on 30 day delinquencies Outside resources and third parties
Likely need more expertise to reach 60, 90 and defaulters Annual costs
What’s your goal and how are you measuring success or ROI? % in next 6 months
30,60,90 delinquencies Defaults Importance of grace period?
As a step toward prevention, iGrad can assist in reaching these students to begin changing behavior
Default Prevention vs Management
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ID those students at risk of defaultingRisk identifiers are unique to institutions –
What are yours?Did you know students “at risk” who fall-off just
one time, tend not to get back on track
• iGrad can assist in identifying and reaching these students to begin changing behavior Targeted customized modules Timely and relevant financial literacy content
Risk Reduction Management
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Why continually feed the fire?Establish a limited target approach to
managing delinquencies and defaults, BUT…
Focus on default prevention/risk management by developing a financial literacy initiative!Impacting your students, staff and alumni!
Financial Literacy is the #1 Proactive Approach to Default Prevention!
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Create your plan – make the focus Financial Literacy By committee! It really does take a village
Who do you include? How do you engage other departments and gain buy-in?
Poll your student populations How do students want to receive financial literacy education? What activities have been successful on campus?
Set time frame and attack Time Resources Financial Resources
Collaborate with other departments, schools, group Apply for funding grants
Review other’s Best Practices iGrad has successfully implemented hundreds of campuses and
we take responsibility for sharing best practices to increase student engagement
Begin or enhance current prevention efforts!
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Think about relevancyWho are you students?iGrad’s platform has the ability to push
different material to each unique studentThink about engaging
Consider learning stylesiGrad offers videos, articles, calculators, games,
interactive activities and courses and quarterly webinars and newsletters - all 24/7
What Your Students Want/Need to Know?
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• Basic competencies recommended by the Dept of TreasuryiGrad’s 1 credit course
• EarningsiGrad’s Career Center and GPS to Success
• Managing debtiGrad covers banking, credit cards, student loans and future
debt• Savings, including education savings
20% of discretionary income! iGrad simplifies options• Asset building
Time value of money! • Insurance
Are you prepared?• Estate Planning – begins early
Think About Topics
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Financial Literacy impacts the entire campus
RecruitmentRetentionStudent Success
Once you create a planDo you have the staff to take on the responsibility?Are you in a position to hire staff – with the required
expertise?What about updating content and activities
regularly?
Recognize It’s Huge – and it has become a National PRIORITY!
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Is your Cohort Default Rate really an indicator of financial literacy initiative success or failure?Measured 3 years outReal or maneuvered impact
Seek behavior changesThe only way to positively impact financial health!Will you see an increase in Alumni giving &
relationships?iGrad’s robust, real-time reporting and custom
reporting capabilities will empower you to report a Return on Investment
How do You Measure Impact?
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You’ve got to lead the horse to water before he will drink!E-mail, Text, Twitter and Social Media
iGrad can accept a school data file and send out the message or can provide the language or even video clip to embed!
Campus and local PressiGrad posted the Podcast we did with Mike Fife of the
Center for Financial Literacy at Champlain College.Incentivize! Engage the faculty iGrad created competition for students when faculty
member embraced iGrad’s 1 credit course curriculum and local media advertised it
Once you have a Plan… Launch and Communicate!
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Collaboration with our school clients is invaluable in hosting a successful financial
literacy initiative – lean on us.
iGrad can handle it all!
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Watch clip of iGrad’s abilities!Let us do the “heavy lifting” for you.
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Do you agree that Financial Literacy is the best approach to default prevention
Do you have the time, expertise and resources to carry out a Financial Literacy initiative - or does another department?
What are your Financial Literacy Best Practices?
Are you interested in learning more about iGrad?
Let’s talk!
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Video-based Entrance & Exit Counseling – DOE compliant and easily reported Customized content based on information we learn from the student and school Our highly recognized video library can accommodate closed captioning requirements Both a Financial Literacy Hub and a Financial Aid Hub Customized modules to meet specific needs of you – our school client Content delivery to facilitate different learning styles including games, calculators,
articles, videos, interactive and downloadable worksheets and interactive webinars One-credit Financial Literacy Classroom course meeting the core-competencies set by
the Department of Treasury, complete with Instructors Guide and Student Workbook Our school partners have access to real time reporting in several robust formats with
customized reporting available. At iGrad, we know that 50% of the budgeting equation is income! We created JobGenius to meet that huge part of financial literacy that is often overlooked, supporting your Career Services Center – not competing with it!
Job and internship search vehicle Free resume critique and ability to collect and directly pass resumes to your Career
Services Over 75 videos interviewing experts in the field who talk about “a day in my life”
opening students’ eyes to possibilities and career directions
iGrad!
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Holly ZaglanicznyDirector of Business Development
[email protected] (direct line)
315-466-6715 cell)www.igrad.com
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and alumni!