Overheard NAFSAA Annual Meeting | July 18–21, 2010, Denver, CO
We’ve regressed 15 or 20 years.
Regulatory changes mean a complex dance for borrowers in repayment. Students are not always able to find out who their servicers are because NSLDS is behind. | Susan Neppl, School Trainer, Great Lakes Higher Education
We’ve regressed 15 or 20 years. Students have loan servicers all over the place. And servicers aren’t making it easy for students to repay their loans. | Thelma Ross, Director Financial Aid, Lincoln University
My husband just finished his degree, and we are trying hard to figure out who we are supposed to pay to begin his student loan repayments. | Amanda Reisinger, Director Financial Aid, Zane State College
Capella has been struggling with the issues resulting from multiple lenders and multiple servicers for about 10 years. We have a team of five dedicated to default prevention, financial literacy and responsible borrowing. | Jillian Brown, Associate Director Financial Aid, Capella University
Our students have very little understanding of what servicers are trying to communicate. We have to explain most things to them. | Amanda Reisinger, Director Financial Aid, Zane State College
It’s a real challenge to bring down default rates. | Virginia Tucker, Associate Director Financial Aid, New Mexico State University-Las Cruces
The Pell grant program has become a fiscal Frankenstein.
We use every possible means of communication—including hand-addressed Valentines and Christmas cards—to get the attention of borrowers who are 31 to 269 days late. | Amanda Reisinger,Director of Financial Aid, Zane State College
At Capella we run a constant simulation of our expected three year default rate. It looks like we will be in the 6 percent range—up from our current 2.5 percent. | Jillian Brown, Associate Director Financial Aid, Capella University
Texting works well for getting students into our office for help if they’re headed toward default. | David Burney, Assistant Director Financial Aid, John Brown University
Nelnet will likely be servicing student loans at every Title 4 eligible college and university. | Jim Harris,National Director, Nelnet Campus Solutions
Money is not the most effective tool for persuasive advocacy. | Haley Chitty, Director of Communications, NASFAA
The federal government will spend $145 billion for higher education. That’s less than five percent of all federal spending and not nearly enough. Meanwhile, our members feel inundated and overwhelmed by increased government regulations. | Justin Draeger, President, NASFAA
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