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New Year's Resolutions from Nelnet

December 13, 2019

With 2019 drawing to a close, Nelnet’s School Services team is looking to 2020. No, that doesn’t mean we are binge-watching old Barbara Walters interviews. Instead, we’re focusing on our resolutions for the new year.

Here’s a quick look at what members of our team are striving for in 2020:

“Push the limits on what I think is within my scope!” – Justin Fischer, School Service Center Supervisor

“Adopt All Dogs” & “I’m going to live and promote a healthier life style!” (with dogs) – Judy Vuong, School Service Center Advisor

“I am going to task myself to exceed goals and find new challenges!” – Jim Kelsea, School Service Center Specialist

“I’m going to lean in to change and be open to ‘scary’ opportunities!” – Dawn Knight, National Manager

Whatever your resolutions may be for 2020, we wish you a happy holiday season and a prosperous new year.

Season’s greetings from the Nelnet School Services team!

Latest from FSA: Secretary DeVos Approves New Methodology for Providing Student Loan Relief to Borrower Defense Applicants

December 11, 2019

Per a press release from the Department of Education, FSA has implemented a new methodology for assessing borrower defense to repayment (BDR) claims.

As noted in the release, “… the new borrower defense relief methodology relies on publicly available data to compare median earnings of graduates who have made BDR claims to the median earnings of graduates from comparable programs. If the earnings from the school in question under the BDR application are lower than the median for that program at all comparable schools, then they will be determined to have suffered harm and will receive student loan relief, either in full or in part:

  • Earnings lower than two standard deviations from the median will result in full relief.
  • Successful BDR applicants whose program earnings are lower than the median but higher than two standard deviations from the median will receive tiered relief of either 25%, 50%, or 75%, based on their program’s earnings deviation from the median.”

For more information, see the press release.

Supplement Your Exit Counseling with our Live Life Smart Guide

December 10, 2019

As students prepare to leave school and enter grace/repayment, they have questions. Lots of questions. Nelnet’s Live Life Smart Guide is the perfect resource to use as a part of your exit counseling efforts and help answer some of those questions.

Specific to exit counseling, the Live Life Smart Guide contains an Exit Counseling Checklist. This resource lists the topics that should be covered during Exit Counseling sessions to help exiting students understand repayment plans, rules around deferment and forbearance, and more.

The Live Life Smart Guide also includes a servicer contact information sheet, which lists out phone numbers, websites, payment remittance addresses, and general correspondence addresses for all four Title IV Additional Servicers (TIVAS).

The Live Life Smart Guide is available in the Nelnet Library, along with a variety of other helpful resources. Check it out today.

Thanks for a Great FSA Training Conference

December 10, 2019

We would like to thank our school partners and industry peers for making the 2019 FSA Training Conference successful! We always enjoy connecting with friends and colleagues – both old and new – talking about experiences, and sharing resources to help you and your students.

Thanks to all who were able to stop by and say hi!

Default Prevention Resources for Every Financial Aid Office

September 18, 2019

With the release of annual Cohort Default Rates on the horizon, we know that default prevention is on every financial aid administrator’s mind. Whether you have difficulty connecting with past-due borrowers or need tips on how to conduct default prevention calls, the Nelnet library has resources to help.

What to Say During Default Prevention Calls

Connecting with past-due borrowers can be a challenge—that’s why we’ve created an easy-to-follow call script/flow chart with language you can use to make your default prevention calls as successful as possible.

What to Do Before, During, and After Default Prevention Calls

There are lots of simple things you can do before, during, and after default prevention calls to make sure you’re as thoroughly prepared as possible. This tip sheet serves as an excellent guide for every call.

For these, and many more, excellent resources, check out the Nelnet Library.

Latest from FSA: Financial Aid Administrator’s Tool Kit Available

September 17, 2019

FSA recently announced the availability of a new Financial Aid Administrator’s Tool Kit, which is available on the Federal Student Aid E-Training website.

This resource is designed to help financial aid professionals administer federal student aid programs in compliance with federal regulations, and it offers quick access to FSA resources, references guides, and training materials.

For more details, including instructions on accessing the Tool Kit, refer to FSA’s announcement.

Supplement Your Entrance Counseling with This Helpful Handout

September 16, 2019

Are your students aware that they can make a dent in their student loan payments by something as simple as sacrificing one coffee a month?

This tip and more are available in our infographic, 10 Things You Should Know About Student Loans. Our printer-friendly infographic lays out ten bits of knowledge that every student borrower should know about his or her student loans, and it serves as a great handout to supplement entrance counseling.

What’s the difference between subsidized and unsubsidized? Who is your servicer? How much should you borrow? 10 Things You Should Know About Student Loans answers these questions and more.

The updated infographic is available in the Nelnet library, along with many other great resources. Download it today.