Default Prevention Step 2: Organize Your Default Team
November 14, 2013
In Step 1, we talked about the importance of cross-institutional participation in understanding why default is an issue at your school. The perspective of various departments continues to play a key role throughout your default prevention efforts. When building a default prevention team, you should include key players from both the financial aid office and from other areas of your institution. Possible members may include:
- Financial aid office personnel
- Representatives from key student service offices
- Student affairs
- Academic faculty and academic advisors
- Enrollment management/admissions officers
- Student accounts staff
- Placement office representatives
- Students
Once you have formed a team, take steps to formulate an action plan, such as:
- Determine the source of your default risk
- Decide what steps your school will take to reduce default risk
- Recruit from all areas of the institution (including management and students) to help you create risk-reduction activities
- Allocate school resources toward default reduction activities
- Assess the effectiveness of default reduction activities over time
For more information about creating a plan for your school, visit our Default Prevention page or view Step 1.
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