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Default Prevention: Mapping Your Future Connie Kent NSLP Caroline Sanders E D F UND
Mapping Your Future <ul><li>mapping-your-future.org </li></ul><ul><li>Sponsors and Friends </li></ul><ul><li>Mission: Coun...
<ul><li>Online Student Loan Counseling </li></ul><ul><li>Ten Steps to Financial Fitness </li></ul><ul><li>Calculators </li...
<ul><li>Loan Wizard </li></ul><ul><li>Locating Your Loans page </li></ul><ul><li>Deferment Navigator </li></ul>Default Pre...
<ul><li>Enables schools & students to  meet federal loan counseling  requirements conveniently </li></ul><ul><li>Free serv...
<ul><li>Step-by-step instructions </li></ul><ul><li>Explanation of loan types </li></ul><ul><li>Annual loan amount chart <...
<ul><li>Student loan calculator to estimate payments </li></ul><ul><li>Budget calculator (exit counseling) </li></ul><ul><...
<ul><li>Schools receive notification of counseling </li></ul><ul><ul><li>Batch e-mail </li></ul></ul><ul><ul><li>Individua...
<ul><li>Through ExitExpress, Mapping  Your Future sends exit data to participating guarantors on behalf of school </li></u...
<ul><ul><li>Aids in default prevention efforts with more timely and up-to-date information </li></ul></ul><ul><ul><li>Coll...
Financial Fitness Tools <ul><li>Educate students about personal finance </li></ul><ul><li>Help in determining financial fi...
<ul><li>Understand roles of student loan players </li></ul><ul><li>Avoid consequences of default </li></ul><ul><li>Be in c...
<ul><li>Pay yourself and invest </li></ul><ul><li>Use credit wisely </li></ul><ul><li>Know your credit report </li></ul><u...
 
 
Student Loan Calculator <ul><li>Estimate student loan payments </li></ul><ul><li>What-if analysis for interest rate and lo...
Student Loan Calculator
Budget Calculator <ul><li>Methods to develop budget </li></ul><ul><li>Control finances by calculating income and expenses ...
Budget Calculator
Debt/Salary Wizard <ul><li>Encourages responsible borrowing </li></ul><ul><li>Provides borrowing limits based on expected ...
Debt/Salary Wizard
Loan Wizard <ul><li>Interactive decision tree </li></ul><ul><li>Borrowers answer series of yes/no questions </li></ul><ul>...
Loan Wizard
Locating Your Loans Page <ul><li>Student loan players & definitions  of each </li></ul><ul><li>Need to provide loan holder...
Locating Your Loans Page <ul><li>Links to two sites to locate loan holder & guarantor </li></ul><ul><ul><li>National Stude...
Deferment Navigator <ul><li>Basic information regarding purpose of deferments and application </li></ul><ul><li>Deferment ...
Deferment Navigator <ul><li>Includes easy-to-understand definition of deferment types </li></ul><ul><li>Links to the defer...
Deferment Navigator
Promoting MYF <ul><li>Links to site (mapping-your-future.org/services/myficon.htm) </li></ul><ul><li>Collateral materials ...
The Future <ul><li>Enhanced Financial Fitness Tools flyer for students, borrowers </li></ul><ul><li>Online Student Loan Co...
Mapping Your Future Contacts <ul><li>Cathy Mueller Executive Director [email_address] (940) 321-0421 </li></ul><ul><li>Car...
THANK YOU! Connie Kent NSLP Caroline Sanders E D F UND
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  1. 1. Default Prevention: Mapping Your Future Connie Kent NSLP Caroline Sanders E D F UND
  2. 2. Mapping Your Future <ul><li>mapping-your-future.org </li></ul><ul><li>Sponsors and Friends </li></ul><ul><li>Mission: Counsel students & families about college, career, & financial aid </li></ul><ul><li>National collaborative public service project of the financial aid industry </li></ul>
  3. 3. <ul><li>Online Student Loan Counseling </li></ul><ul><li>Ten Steps to Financial Fitness </li></ul><ul><li>Calculators </li></ul><ul><ul><li>Student loan repayment </li></ul></ul><ul><ul><li>Loan consolidation </li></ul></ul><ul><ul><li>Budget </li></ul></ul><ul><ul><li>Debt/Salary Wizard </li></ul></ul><ul><li>Continued . . . </li></ul>Default Prevention Features
  4. 4. <ul><li>Loan Wizard </li></ul><ul><li>Locating Your Loans page </li></ul><ul><li>Deferment Navigator </li></ul>Default Prevention Features
  5. 5. <ul><li>Enables schools & students to meet federal loan counseling requirements conveniently </li></ul><ul><li>Free service provided by the Sponsors and Friends that support Mapping Your Future </li></ul><ul><li>Stafford & Perkins entrance & exit counseling </li></ul>Online Student Loan Counseling
  6. 6. <ul><li>Step-by-step instructions </li></ul><ul><li>Explanation of loan types </li></ul><ul><li>Annual loan amount chart </li></ul><ul><li>Borrow conservatively </li></ul><ul><li>Continued . . . </li></ul>Online Student Loan Counseling
  7. 7. <ul><li>Student loan calculator to estimate payments </li></ul><ul><li>Budget calculator (exit counseling) </li></ul><ul><li>Tips regarding student loan management </li></ul>Online Student Loan Counseling
  8. 8. <ul><li>Schools receive notification of counseling </li></ul><ul><ul><li>Batch e-mail </li></ul></ul><ul><ul><li>Individual e-mails </li></ul></ul><ul><li>School retrieves counseling record from secure FAO Access area </li></ul><ul><ul><li>Print batch reports </li></ul></ul><ul><ul><li>Download data </li></ul></ul>Online Student Loan Counseling
  9. 9. <ul><li>Through ExitExpress, Mapping Your Future sends exit data to participating guarantors on behalf of school </li></ul><ul><ul><li>Saves time and money (fax, mail) </li></ul></ul><ul><ul><li>Makes process more efficient through less data entry errors </li></ul></ul><ul><li>Continued . . . </li></ul>OSLC ExitExpress
  10. 10. <ul><ul><li>Aids in default prevention efforts with more timely and up-to-date information </li></ul></ul><ul><ul><li>Collaboration with the National Student Clearinghouse results in accurate guarantor information </li></ul></ul>OSLC ExitExpress
  11. 11. Financial Fitness Tools <ul><li>Educate students about personal finance </li></ul><ul><li>Help in determining financial fitness </li></ul><ul><li>Give advice on using credit wisely </li></ul><ul><li>Tips on avoiding loan defaults </li></ul>
  12. 12. <ul><li>Understand roles of student loan players </li></ul><ul><li>Avoid consequences of default </li></ul><ul><li>Be in control of your finances </li></ul><ul><li>Balance your checkbook </li></ul><ul><li>Establish a budget </li></ul><ul><li>Continued . . . </li></ul>10 Steps to Financial Fitness
  13. 13. <ul><li>Pay yourself and invest </li></ul><ul><li>Use credit wisely </li></ul><ul><li>Know your credit report </li></ul><ul><li>Cleaning up credit </li></ul><ul><li>Surf the web for more info </li></ul>10 Steps to Financial Fitness
  14. 16. Student Loan Calculator <ul><li>Estimate student loan payments </li></ul><ul><li>What-if analysis for interest rate and loan amount </li></ul>
  15. 17. Student Loan Calculator
  16. 18. Budget Calculator <ul><li>Methods to develop budget </li></ul><ul><li>Control finances by calculating income and expenses </li></ul>
  17. 19. Budget Calculator
  18. 20. Debt/Salary Wizard <ul><li>Encourages responsible borrowing </li></ul><ul><li>Provides borrowing limits based on expected future earnings </li></ul><ul><li>Estimates future income needed to support debt </li></ul><ul><li>Links to salary.com to explore starting salaries by geographic area </li></ul>
  19. 21. Debt/Salary Wizard
  20. 22. Loan Wizard <ul><li>Interactive decision tree </li></ul><ul><li>Borrowers answer series of yes/no questions </li></ul><ul><li>Appropriate page opens on site </li></ul>
  21. 23. Loan Wizard
  22. 24. Locating Your Loans Page <ul><li>Student loan players & definitions of each </li></ul><ul><li>Need to provide loan holder and guarantor with address and phone number changes (including references’ information) </li></ul>
  23. 25. Locating Your Loans Page <ul><li>Links to two sites to locate loan holder & guarantor </li></ul><ul><ul><li>National Student Loan Data System (NSLDS) </li></ul></ul><ul><ul><ul><li>Requires PIN (links to PIN registration) </li></ul></ul></ul><ul><ul><ul><li>Student loans and Federal Pell Grant </li></ul></ul></ul><ul><ul><li>National Student Clearinghouse LoanLocator </li></ul></ul><ul><ul><ul><li>No PIN required </li></ul></ul></ul><ul><ul><ul><li>Student loans only </li></ul></ul></ul>
  24. 26. Deferment Navigator <ul><li>Basic information regarding purpose of deferments and application </li></ul><ul><li>Deferment eligibility charts based on oldest outstanding loan disbursement </li></ul><ul><ul><li>Stafford </li></ul></ul><ul><ul><li>Perkins </li></ul></ul>
  25. 27. Deferment Navigator <ul><li>Includes easy-to-understand definition of deferment types </li></ul><ul><li>Links to the deferment application in Portable Document File (PDF) format for Stafford Loans </li></ul>
  26. 28. Deferment Navigator
  27. 29. Promoting MYF <ul><li>Links to site (mapping-your-future.org/services/myficon.htm) </li></ul><ul><li>Collateral materials </li></ul><ul><ul><li>General brochure </li></ul></ul><ul><ul><li>Online Student Loan Counseling postcards </li></ul></ul><ul><ul><li>Financial Fitness Tools flyer </li></ul></ul><ul><li>Default aversion efforts </li></ul>
  28. 30. The Future <ul><li>Enhanced Financial Fitness Tools flyer for students, borrowers </li></ul><ul><li>Online Student Loan Counseling version 3.0 </li></ul><ul><li>EntranceExpress </li></ul><ul><li>Reality Store </li></ul>
  29. 31. Mapping Your Future Contacts <ul><li>Cathy Mueller Executive Director [email_address] (940) 321-0421 </li></ul><ul><li>CariAnne Cutshall Project/Team Coordinator [email_address] (573) 634-8641 </li></ul>
  30. 32. THANK YOU! Connie Kent NSLP Caroline Sanders E D F UND

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