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Default Management Tips from MTTI’s Paulette Allen-Wilson

July 16, 2014

Paulette 053Meet Paulette Allen-Wilson,Financial Assistant/Default Manager at MotoRing Technical Training Institute (MTTI) in Seekonk, MA.

“This is the best job I’ve ever had!” smiles Paulette. Her responsibilities at MTTI include default management. Paulette shares, “I’m really in a position to help a student struggling with repayment.”

As cohort default rates climb nationally, Paulette is very proud that MTTI’s 3 Year Cohort Default Rate has gone down. Last September, Paulette jumped for joy when MTTI was able to lower their rate by 2.9%.

Paulette utilizes many of the resources available from FSA and the federal loan servicers to assist her students. At her desk, Paulette has binders full of resources ready at her finger tips. Paulette shares some ways she helps keep MTTI’s CDR down:

  • Run servicer delinquency reports on a monthly basis.
  • Follow up with students after they graduate or leave the institution on a regular basis.
  • Provide borrowers with detailed loan information from NSLDS and their loan servicer, important contact info, and other relevant information.
  • Utilize campus resources to acquire current student contact information.

Paulette faces similar challenges as other campuses in locating and communicating with those students who have left their program. She understands the importance of identifying these students early and being proactive. Campus collaboration is the key.

I asked Paulette, if she had a magic wand and could change anything in the financial aid world, what that might be. Paulette shared that “the language of the laws are complex and need a little more simplicity.” She said it’s difficult trying to keep up with all the regulations and changes. She also said she would like to reduce the amount of student debt and lower the interest rate on student loans.

When Paulette is not assisting students, she spends her time caring for her family and her granddaughter, Kylee.

 

Dan Dreves, Northeast Regional Director, Nelnet Partner Solutions

Dan Dreves, Northeast Regional Director, Nelnet Partner Solutions

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