USA Funds Debt Manager Enhancements Help Curb Loan Defaults
Submitted by Arnold Trejo, Sandy Holt & John Bautista

USA Funds® has announced the release of a more-powerful online tool that helps financial aid professionals combat loan defaults.

Enhancements to USA Funds Debt Manager® now permit financial aid administrators to develop e-mail campaigns, in addition to mail and telephone campaigns, to encourage their student-loan borrowers to successfully repay their loans. USA Funds Debt Manager offers users the same flexibility in designing the targeting and timing of e-mail campaigns as the tool provides for letter and telephone campaigns.

Users can select to send e-mails, letters or both to selected groups of their borrowers. The text of their e-mail messages is saved within USA Funds Debt Manager for future use.

The reports available to users of USA Funds Debt Manager also have been improved to display best- and worse-case scenarios for a school’s cohort-default rate based on the current status of its borrowers. In addition, the reports permit schools to identify those borrowers who directly affect the school’s default rate.

Additional enhancements include improved navigation and streamlined processes in USA Funds Debt Manager. These improvements were based on feedback from campus users of the tool. USA Funds Debt Manager is in use at approximately 300 campuses nationwide.