{"id":298,"date":"2013-12-03T21:32:59","date_gmt":"2013-12-03T21:32:59","guid":{"rendered":"https:\/\/blogs.wp.missouristate.edu\/finaid\/?p=298"},"modified":"2013-12-03T21:32:59","modified_gmt":"2013-12-03T21:32:59","slug":"default","status":"publish","type":"post","link":"https:\/\/blogs.wp.missouristate.edu\/finaid\/2013\/12\/03\/default\/","title":{"rendered":"Default"},"content":{"rendered":"<p><!-- type=\"image\" CHANGE FROM WIREFRAME TO THIS-->Default Prevention<\/p>\n<div id=\"content\">\n<div id=\"mainContent\" role=\"main\">\n<p>The Missouri Department of \u00a0Higher Education promotes default prevention and debt management initiatives related to student loan borrowing and repayment. Objectives\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 include increasing the awareness of financing options for postsecondary education, reducing debt among postsecondary students and parents, increasing enrollment retention, reducing loan defaults, and generally increasing students\u2019 knowledge about\u00a0\u00a0\u00a0\u00a0 their personal finances.<\/p>\n<p>Implementing default prevention and student success programs on campus are:<\/p>\n<ul>\n<li><strong>Smart for schools! <\/strong>Successfully educating student loan\u00a0\u00a0 borrowers can help reduce your institution&#8217;s <a href=\"\/ppc\/studentloans\/studentloandefaultrates.php\">default rate<\/a> and prevent potential\u00a0\u00a0 sanctions against your institution, such as losing federal program eligibility\u00a0\u00a0 for student loans,\u00a0 Pell Grants, and other Title IV aid programs.<\/li>\n<li><strong>Smart for borrowers! <\/strong>Default prevention activities also\u00a0\u00a0 improve the student loan borrowers&#8217; knowledge of their <a href=\"\/ppc\/studentloans\/rightsandresponsibilities.php\">rights and responsibilities<\/a>. Extending\u00a0\u00a0 default prevention to implementing <a href=\"\/ppc\/studentloans\/financialliteracy.php\">financial\u00a0\u00a0 literacy<\/a> and <a href=\"\/ppc\/studentloans\/debtmanagement.php\">debt management<\/a> programs on\u00a0\u00a0 your campus also contributes to the overall financial health of Missouri&#8217;s\u00a0\u00a0 students, parents, borrowers, and citizens.<\/li>\n<\/ul>\n<h3>Top Ten Best Practices in Default Prevention<\/h3>\n<p>Brought to you by the MDHE&#8217;s <a href=\"\/ppc\/studentloans\/defaultprevgrant.php\">Default Prevention Grant program<\/a> team.<\/p>\n<ol>\n<ol>\n<li>Organize a Default Prevention and\/or Student Success Team. Help the team\u00a0\u00a0 start strong by <a href=\"https:\/\/web.dhe.mo.gov\/dhe\/forms\/speakingevents\/speakingevent.faces\">requesting default prevention training<\/a> from the MDHE and reviewing a new printed publication, <a href=\"http:\/\/dhe.mo.gov\/files\/Smart_Approach_Booklet.pdf\">\u201c<em>The Smart Approach to Campuswide\u00a0\u00a0 Retention and Default Prevention Efforts.<\/em>\u201d<\/a> This pamphlet was created\u00a0\u00a0 for Missouri&#8217;s postsecondary staff and administrators to assist with developing and promoting more cohesive retention, student success and default prevention plans. Additionally, Missouri institutions may\u00a0 attend the MDHE&#8217;s free <a href=\"defaultpreventionday.php\">Default Prevention Day<\/a> offered in May.<\/li>\n<li>Profile your institution&#8217;s defaulted borrowers, and put programs in place to\u00a0\u00a0 specifically address at-risk populations at your school.<\/li>\n<li>Make retention part of default prevention efforts. Focus on academics as well\u00a0\u00a0 as providing personal or financial counseling for at-risk students.<\/li>\n<li>Emphasize the benefits of paying <a href=\"\/ppc\/studentloans\/interest.php\">interest<\/a> on\u00a0\u00a0 loans while still in school. Use the MDHE&#8217;s free publication <a href=\"..\/..\/files\/PlanningFFS_calendar.pdf\"><em>Planning for Financial Success<\/em><\/a> to get freshmen\u00a0\u00a0 borrowers off to a good financial start. To order MDHE publications, visit our <a href=\"https:\/\/web.dhe.mo.gov\/dhe\/forms\/publications\/puborderform1.faces\">online\u00a0\u00a0 order form<\/a>.<\/li>\n<li>Develop a &#8220;loan reminder&#8221; presentation\/counseling session for returning loan\u00a0\u00a0 borrowers each year. Results of a 2009 MDHE survey of delinquent and defaulted\u00a0\u00a0 borrowers indicated that more than 50% of borrowers borrowed more than they\u00a0\u00a0 expected. Help future borrowers avoid this mistake!<\/li>\n<li>Conduct <a href=\"financialliteracy.php\">budget and financial management<\/a> workshops in classes or include it in the new student orientation process.\u00a0\u00a0 Seek and use outside resources, such as the MDHE, to help make these workshops\u00a0\u00a0 as interactive and memorable as possible. Complete our new <a href=\"https:\/\/web.dhe.mo.gov\/dhe\/forms\/speakingevents\/speakingevent.faces\">online\u00a0\u00a0 speaking and event request form<\/a> to arrange for a financial literacy workshop\u00a0\u00a0 for your students.<\/li>\n<li>Provide a personalized calendar during <a href=\"\/ppc\/studentloans\/exitcounseling.php\">exit\u00a0\u00a0 counseling<\/a> (mark dates such as the half-way point of the 6-month grace\u00a0\u00a0 period, end of grace period, and first repayment due date). Include\u00a0\u00a0 comprehensive student loan debt information (total amount owed, estimated\u00a0\u00a0 monthly payment amounts, etc.) as well as loan holder contact\u00a0\u00a0 information.<\/li>\n<li>Provide lifetime job placement assistance.<\/li>\n<li>Include financial aid and retention staff in student withdrawal process.<\/li>\n<li>\u00a0 Use creative techniques to contact students and borrowers.<\/li>\n<\/ol>\n<\/ol>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Default Prevention The Missouri Department of \u00a0Higher Education promotes default prevention and debt management initiatives related to student loan borrowing and repayment. Objectives\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 include increasing the awareness of financing options for postsecondary education, reducing debt among postsecondary students and parents, increasing enrollment retention, reducing loan defaults, and generally increasing students\u2019 knowledge about\u00a0\u00a0\u00a0\u00a0 their personal finances. [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[3,8],"tags":[17,27],"class_list":{"0":"post-298","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-defaultmanage","7":"category-money","8":"tag-debt","9":"tag-money","10":"entry"},"_links":{"self":[{"href":"https:\/\/blogs.wp.missouristate.edu\/finaid\/wp-json\/wp\/v2\/posts\/298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.wp.missouristate.edu\/finaid\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.wp.missouristate.edu\/finaid\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.wp.missouristate.edu\/finaid\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.wp.missouristate.edu\/finaid\/wp-json\/wp\/v2\/comments?post=298"}],"version-history":[{"count":0,"href":"https:\/\/blogs.wp.missouristate.edu\/finaid\/wp-json\/wp\/v2\/posts\/298\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.wp.missouristate.edu\/finaid\/wp-json\/wp\/v2\/media?parent=298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.wp.missouristate.edu\/finaid\/wp-json\/wp\/v2\/categories?post=298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.wp.missouristate.edu\/finaid\/wp-json\/wp\/v2\/tags?post=298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}