SLT Profile: Default Management Team

The GRCC Default Management Team includes:
  • Ann Isackson, Paul Doane, Sandi Glennemeier, Rebecca Powell and Veronica Beitner, Financial Aid
  • Bruce Morrison, Institutional Research and Planning
  • Bryan Vliem, Student Records
  • Eric Mullen, Enrollment Management and Financial Aid
  • John Cowles, Student Success and Retention
  • Marisol Blanco, College Success Center
  • Michael Passer, IT-Enterprise Applications
  • Tina Hoxie, Student Affairs
  • Todd Hurley, Accounting and Budget Services
  • Victoria Powers, Counseling and Career Center/TRiO

To address rising student loan default rates at GRCC, this team has developed, implemented and begun monitoring a student loan default management plan.

This plan consists of two primary areas of focus. The first is to provide delinquent borrowers with information necessary to facilitate successful loan repayment.

The second is to identify various touch points during the student’s college experience where financial literacy education could be delivered effectively. Since the team’s formation in June 2012, resources have been secured to provide students both delinquency outreach and financial literacy services through the SALT® educational finance support program.  Additionally, two part-time Loan Repayment Specialists were hired to serve as student advocates and to organize on-campus financial literacy events.

During the past year, an outreach campaign to delinquent borrowers and students entering repayment was initiated.

The campaign included:

  • Phone, text, mail and email communications.
  • In-person loan exit counseling sessions.
  • Information at Gradfest.
  • Information sent with 1,800 diplomas.

On-campus financial literacy offerings were expanded to current students through partnerships with Student Alliance and Phi Theta Kappa, as well as community organizations including Hello West Michigan, PNC Bank, and Lake Michigan Credit Union.  Additionally, in the last year 3,026 students enrolled in SALT® and 6,381 financial literacy modules were successfully completed by students enrolled in CLS 100, PY 100 and CLS 102 classes.

With these outreach and financial literacy initiatives, the college’s cohort default rate has continued to decline from an all-time high of 26.4% to our current rate of 23.2%. When draft cohort default rates are released in late February, a further decline is anticipated.

During the coming year, the team will:

  • Evaluate and revise the default management plan.
  • Expand the communications plan
  • Evaluate the effectiveness of financial literacy components used in first-year experience courses.
  • Examine the relationship between SALT® enrollment and successful loan repayment.

The GRCC Default Management Teams goal is to reduce the cohort default rate to 20% or below in the next three years.

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