Default Prevention Services
With over 15 years of experience, Edfinancial understands that higher education clients need flexibility. Our approach to default prevention offers a comprehensive solution along with the option to select individual services that meet specific institutional strategies. You choose the program that is right for your school.
We focus on educating students about repayment options and how to avoid default. Our counselors maintain contact throughout the grace period gathering updated demographics and establishing a positive relationship with the borrower as a trusted advisor prior to the repayment begin date.
- Financial literacy
- In-school outreach
- Risk analysis
- Demographic updates
Using our state of the art Default Prevention System (DPS), we manage data from multiple sources, monitor repayment activity, flag delinquent borrowers and secure resolutions. From full service programs to co-managed campaigns, Edfinancial offers custom solutions based on the level of support needed.
- Flexible program options
- Customer accountability
- Results-driven contact strategies
- Payment monitoring
We help schools track federal student loans and evaluate repayment rates by program while providing risk scoring for those programs performing below expectations. Recognizing that each client is unique, Edfinancial collaborates with school partners to create and deploy strategies to improve compliance when needed.
- Repayment goals
- Predictive modeling
- Alignment of GE and CDR strategies
- Custom reporting metrics
Cohort management software
The Default Prevention System (DPS) facilitates data management. This robust web-based system automates the gathering of federal student loan data for NSLDS, TIVAS, guarantors, servicers and lenders. Private and institutional loan data can be accommodated as well. Schools can choose to license the software for internal default management teams or work collaboratively with Edfinancial processors in a co-managed environment. DPS offers:
- CDR forecasting
- Contact campaign automation
- Custom reporting options
- Dialer integration
- Historical demographic repository
- Gainful employment compliance
Draft rate challenges
Beginning with a thorough review of your draft rate cohort data, we identify and research potential errors. We handle the calculations and complete documentation for you. By outsourcing to Edfinancial, you can save time and reduce your default rate.
- Draft CDR, IDC-incorrect data challenge
- UDA-uncorrected data adjustment
- NDA-new data adjustment
- LSA-loan servicing appeal
- eCDR support