OCAP’s use of Student Connections helped the 26 participating schools outperform both national and local CDR trends.
The school's small financial aid office staff was facing significant challenges keeping up with borrower outreach, so they started using Borrower Connect in 2013. Since then, the school has expanded the amount of outreach Student Connections performs on its behalf and enjoys a collaborative partnership with Student Connections team.
A proactive outreach strategy, using the Borrower Connect tool and outreach services along with our financial literacy and student success program, helped this institution reduce its cohort default rate by over 10 percentage points.
A holistic approach, which included our financial literacy and student success curriculum and Borrower Connect comprehensive service, helped this institution reduce its number of borrowers at high-risk and moderate-risk of default by more than half.
To keep its cohort default rate in the range of similar institutions, this school began using Borrower Connect to reach borrowers who were delinquent, in their grace period or who had defaulted on their loans. The tool also helps Valencia College analyze borrower data, monitor the effectiveness of its efforts and review default rate projections.
When staff reductions made it difficult for this school to provide students with the attention and information they need to make good borrowing decisions, Wesleyan College partnered with us to provide online financial literacy programming for students and help better focus its default prevention efforts. Since then, Wesleyan has surpassed its cohort default rate goals and remains focused on reducing the amount students borrow.