The focus on student loan issues and students struggling with repayment is at an all-time high—and still growing. As the cost of higher education continues to rise, colleges and universities see more students borrowing more money than ever before and, with that, increasing defaults on federal student loans.

Many of today’s students invest in their education without a solid understanding of the responsibilities and consequences of borrowing. Too many undergraduates enter without basic financial literacy skills. Transfer and graduate students often are already saddled with student and consumer debt.

When it’s time for repayment, these students frequently are confused by the multiple and complex loan repayment options. Without guidance, they may automatically accept the standard ten-year repayment plan, not realizing other options may offer terms and conditions better suited to their situation. Simply put, students facing these challenges need help from their college or university.

At the same time, your campus faces its own challenges dealing with student loan issues, especially relating to loan defaults that can subject your students and school to serious negative consequences. The cohort default rate, which the U.S. Department of Education has traditionally used to help determine your school’s eligibility to offer federal Title IV financial aid, is increasingly viewed as a measure of your institution’s administrative capability.
New proposals to hold institutions accountable for student outcomes are also in the works, with students and parents being encouraged to consider these outcomes in making college choices. Statistics on the outcome related to successful repayment of education loans is one of the key factors.

A quick response to regulatory and market forces, is critical for your college or university. However, despite experience showing that good financial education and repayment success are closely linked, in times of tight budgets, demanding workloads, and competition for resources, your school may lack the staff or time to educate current students about finances or to help former students successfully repay loans.

Even so, to fulfill its’ mission, your school must prepare your students to succeed in their professional endeavors and personal lives. And, of course, this preparation must be provided in an efficient, cost-effective manner.

EX$EL helps you help your students efficiently and cost-effectively. With more than half a century of experience in educating borrowers, the EX$EL team has proven that sound financial education and consistent personal contact have a positive influence on student borrowing and repayment of education loans. Providing this service to your students can assist your institution in retaining students and lowering its’ default rate.

EX$EL serves your students on your behalf—not as a collector of loans, but as a guide, an advocate, and an educator, helping your students find success.

By offering EX$EL, your school shows students you are on their side. You send students the positive message that you know they probably took on debt to enroll and that you want to ensure their success while in school and in repayment.

It’s a message that resonates well beyond the financial aid office. It’s a statement of commitment the whole campus can back, from enrollment management to the development office, from student life to alumni relations. Working on behalf of your institution, EX$EL can assist your students while they are enrolled and your borrowers after they leave school.

Each of the three services making up EX$EL establishes relationships with students and borrowers through consistent regular contact via text, email, social media, and telephone; easy access to material through a user-friendly website; and, for schools, aggregate and individual reports of student and borrower progress and status.

About EX$EL

College Foundation, Inc. and the North Carolina State Education Assistance Authority have worked together for more than 50 years assisting students and families with paying for college. With this long and solid history and year-after-year cohort default rates only a fraction of the national average, these entities are proud to work with Decision Partners, a premiere provider of online financial education, to offer EX$EL Financial Education and Repayment Success services.