Instilling confidence: HigherEDGE® delivers on its promises
For Diana Mateer, Financial Aid Director of University of Advancing Technology (UAT), there aren't enough hours in the day. For everything she and her staff accomplish, she wishes she could do more. "Schools have so much to do," she says. "[The current state of] financial aid has made it essential for schools to seek assistance."
This is especially true when it comes to serving student borrowers who are graduating. "We care about what happens after [graduation], but UAT does not have the staff resources to contact borrowers after they leave school," says Mateer. She says that soon after she arrived at UAT and assessed her staff's workload, she decided that the institution needed to find a reliable third-party servicer to provide borrowers with critical support during the transition from school to repayment.
UAT hired TG's HigherEDGE® Default Aversion Solutions to provide its exiting borrowers with grace counseling. The timing of the service is perfect — the period directly after graduation is the key teachable moment when borrowers really start thinking about what they owe. The service reaches out to borrowers to inform them of their student loan rights and responsibilities, and to set them on a solid path to repayment success.
"TG's grace counseling service has allowed UAT to have the confidence that our borrowers are getting thorough information on their loans, while our staff can focus on other projects," says Mateer. The service also helps the school feel assured that their cohort default rates (CDRs) will remain in control.
Why did UAT decide on HigherEDGE? Sincerity and reliability.
Mateer says that TG's HigherEDGE treats her school as a true partner in its default prevention efforts, and not just because UAT is a paying customer. "Unlike some companies that offer outsourced services, TG is sincere in their interest in my school. Of course they want my school's business, but their concern for what is best for me, not just them, is always evident."
Mateer says that TG also delivers as promised. "TG does what they say they're going to do," she says. "TG does an amazing job with the customer. And TG provides a great product at an affordable price to do what we cannot."
UAT is pleased to have support from a service provider that provides significant relief from the school's workload. For those who are wondering about whether they should add default prevention services for their student borrowers, Mateer has some advice: "Do it. If you think you don't have a problem, you probably do." As for wavering on whether to hire a third party to provide support, Mateer is unequivocal. "Not outsourcing is crazy. Relinquish enough control so you can get [your default management goals] accomplished." This is sound advice from a school that is achieving borrower and institutional success.