Default Management Services
The Arkansas Student Loan Authority has been involved in student loan funding and management since 1977. ASLA is responding to the serious student loan default problem in our state by offering Default Management Services to Arkansas higher education institutions. Our services can protect your institution and student loan borrowers from the severe and long-lasting repercussions of student loan default.
It is well understood that student loan default can be prevented when communication takes place with the borrower. Creative skip-tracing techniques are utilized to locate borrowers and then we act as counselors, not collectors, to help borrowers understand their options while guiding them to delinquency resolution. Our counselors are knowledgeable, experienced financial aid professionals.
High Tech & Hands-On Communication
Innovative techniques are used to contact and communicate with borrowers in order to achieve successful delinquency resolutions. An "auto-dialer" is used for many early stage delinquencies while manual dialing is often used for more delinquent borrowers. A variety of on-line resources, both proprietary and public, are utilized to locate missing borrowers.
Cohort Management & Tracking Software
ASLA has entered into a partnership with Edfinancial Services to provide state-of-the-art cohort management software, the Default Prevention System (DPS). DPS is used to manage data from multiple loan sources, monitor repayment activity, flag delinquent borrowers and secure resolutions. Institutions can use the web-based DPS to accurately track their cohort default rate at any time during the two- or three-year cohort period.
Our experts work with institutions to implement a customized and cost-effective plan to meet each school's unique needs. We hope we have the opportunity to discuss a default management plan with you.