Monitor Cohort Default Rates Year RoundInceptia’s Free Cohort Default Rate Reporting Tool Provides Real-Time Data
As financial aid administrators
process the impact of their newly released 2- and 3-year cohort default rates from
the U.S. Department of Education, Inceptia is making its proprietary Cohort
Activity Report freely available to any school that wants to monitor their default
rate.
Administrators can use this
report to receive updated data on open cohort default years and monitor
borrowers so that they can actively help student borrowers while lowering their
default rate.
“The Cohort Activity Report
gives schools the power to see what’s happening right now with their
borrowers,” said Dave Macoubrie, Inceptia vice president of repayment
solutions. “By proactively addressing the cohort of student defaulters, they
can take steps to remove them from the list and make a positive impact on the trajectory
of their school’s cohort default rate helping to save those student borrowers
from default.”
Once registered, upload your
School Portfolio report to the Cohort Activity Report system. The data from the
School Portfolio report will be analyzed and organized into a simplified report
for you to gain updated insights in real time.
This report can be used to monitor:
·
number of borrowers
in repayment
·
number of
borrowers in default
·
impact one
default borrower has on their rate
·
number of rescued
borrowers needed to reduce the rate by one percent
·
open and closed
cohort year comparison data
You may also download a list of loan details on each
defaulted borrower.
With cohort default rates on
the rise, schools need to proactively monitor cohort default rates year round
in order to gain the knowledge required to lower their rate and help student
borrowers. The details in this report can help you closely monitor default
borrowers so that you can proactively work to correct defaulted loans prior to
closing years.
“We
want to show every school the impact they can have on their rate, simply by
lowering it by even one percentage point,” Macoubrie said. “For some institutions,
that may be as few as five borrowers. But lowering the rate over time can have
a significant impact on a school and is good for student borrowers.”
Inceptia’s
goal is to help students borrow wisely, resolve their delinquency issues and guide
them to successfully repay their student loan obligations; while also helping
schools reduce their cohort default rates. Find
out more about Inceptia’s default prevention services by contacting Inceptia at
888.529.2028.
ABOUT INCEPTIA
Inceptia, a division of National Student Loan Program (NSLP), is
a non-profit organization providing premier expertise in default prevention and
financial education. Since 1986, we have helped more than two million students
achieve their higher education dreams at 5,500 schools nationwide. Annually,
Inceptia assists more than 150,000 delinquent borrowers in repaying their
student loans. By using practical tools of cohort analysis, financial education
and repayment outreach, Inceptia educates students on responsible personal
finances and loan repayment counseling and provides default prevention
strategies and services to schools. More information at Inceptia.org.
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