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2003 Debt Management Conference
Default Prevention:Mapping Your Future
Connie KentNSLPCaroline SandersEDFUND
2003 NCHELP Debt Management Conference
Mapping Your Future
mapping-your-future.org Sponsors and Friends Mission: Counsel students & families
about college, career, & financial aid National collaborative public service
project of the financial aid industry
2003 NCHELP Debt Management Conference
Default Prevention Features
Online Student Loan Counseling Ten Steps to Financial Fitness Calculators
Student loan repayment Loan consolidation Budget Debt/Salary Wizard
Continued . . .
2003 NCHELP Debt Management Conference
Default Prevention Features
Loan Wizard Locating Your Loans page Deferment Navigator
2003 NCHELP Debt Management Conference
Enables schools & students to meet federal loan counseling requirements conveniently
Free service provided by the Sponsors and Friends that support Mapping Your Future
Stafford & Perkins entrance & exit counseling
Online Student Loan Counseling
2003 NCHELP Debt Management Conference
Step-by-step instructions Explanation of loan types Annual loan amount chart Borrow conservativelyContinued . . .
Online Student Loan Counseling
2003 NCHELP Debt Management Conference
Student loan calculator to estimate payments
Budget calculator (exit counseling) Tips regarding student
loan management
Online Student Loan Counseling
2003 NCHELP Debt Management Conference
Schools receive notification of counseling Batch e-mail Individual e-mails
School retrieves counseling record from secure FAO Access area Print batch reports Download data
Online Student Loan Counseling
2003 NCHELP Debt Management Conference
Through ExitExpress, Mapping Your Future sends exit data to participating guarantors on behalf of school Saves time and money (fax, mail) Makes process more efficient through
less data entry errorsContinued . . .
OSLC ExitExpress
2003 NCHELP Debt Management Conference
Aids in default prevention efforts with more timely and up-to-date information
Collaboration with the National Student Clearinghouse results in accurate guarantor information
OSLC ExitExpress
2003 NCHELP Debt Management Conference
Financial Fitness Tools
Educate students about personal finance
Help in determining financial fitness Give advice on using credit wisely Tips on avoiding loan defaults
2003 NCHELP Debt Management Conference
Understand roles of student loan players
Avoid consequences of default Be in control of your finances Balance your checkbook Establish a budgetContinued . . .
10 Steps to Financial Fitness
2003 NCHELP Debt Management Conference
Pay yourself and invest Use credit wisely Know your credit report Cleaning up credit Surf the web for more info
10 Steps to Financial Fitness
2003 NCHELP Debt Management Conference
Student Loan Calculator
Estimate student loan payments What-if analysis for interest rate
and loan amount
2003 NCHELP Debt Management Conference
Student Loan Calculator
2003 NCHELP Debt Management Conference
Budget Calculator
Methods to develop budget Control finances by calculating
income and expenses
2003 NCHELP Debt Management Conference
Budget Calculator
2003 NCHELP Debt Management Conference
Debt/Salary Wizard
Encourages responsible borrowing Provides borrowing limits based on
expected future earnings Estimates future income needed to
support debt Links to salary.com to explore
starting salaries by geographic area
2003 NCHELP Debt Management Conference
Debt/Salary Wizard
2003 NCHELP Debt Management Conference
Loan Wizard
Interactive decision tree Borrowers answer series of yes/no
questions Appropriate page opens on site
2003 NCHELP Debt Management Conference
Loan Wizard
2003 NCHELP Debt Management Conference
Locating Your Loans Page
Student loan players & definitions of each
Need to provide loan holder and guarantor with address and phone number changes (including references’ information)
2003 NCHELP Debt Management Conference
Locating Your Loans Page
Links to two sites to locate loan holder & guarantor National Student Loan Data System
(NSLDS)• Requires PIN (links to PIN registration)• Student loans and Federal Pell Grant
National Student Clearinghouse LoanLocator• No PIN required• Student loans only
2003 NCHELP Debt Management Conference
Deferment Navigator
Basic information regarding purpose of deferments and application
Deferment eligibility charts based on oldest outstanding loan disbursement Stafford Perkins
2003 NCHELP Debt Management Conference
Deferment Navigator
Includes easy-to-understand definition of deferment types
Links to the deferment application in Portable Document File (PDF) format for Stafford Loans
2003 NCHELP Debt Management Conference
Deferment Navigator
2003 NCHELP Debt Management Conference
Promoting MYF
Links to site (mapping-your-future.org/services/myficon.htm)
Collateral materials General brochure Online Student Loan Counseling
postcards Financial Fitness Tools flyer
Default aversion efforts
2003 NCHELP Debt Management Conference
The Future
Enhanced Financial Fitness Tools flyer for students, borrowers
Online Student Loan Counseling version 3.0
EntranceExpress Reality Store
2003 NCHELP Debt Management Conference
Mapping Your Future Contacts
Cathy MuellerExecutive [email protected](940) 321-0421
CariAnne CutshallProject/Team [email protected](573) 634-8641
2003 Debt Management Conference
THANK YOU!Connie KentNSLPCaroline SandersEDFUND
