The Student Loan Debt

Topic 

The Student Loan Debt

Instructions 

Write a report (2000 words excluding appendices and references) addressing the questions at the end of the case and include other relevant global corporate governance and social responsibility issues concerning the case. The report should be submitted via Turnitin. The report will be marked based on the marking guide (Group Assignment- assessment criteria) uploaded in the Blackboard.  Written Report worth 25% weightage. There is no presentation.

Answer Preview 

Embracing Default Reduction: With regards to this, colleges should not let the financial aid office conduct all default reduction efforts (Han, 2015). Rather, colleges should be proactive in building trustful relations with students when applying for federal aid eligibility.

Analyzing Defaulters and Borrowers: For this purpose, the importance of data analysis cannot be underscored (Ionescu, 2016). It will offer the institution a preview of the unique behaviors and characteristics of the institution’s population. The borrowers who are most in need will then be prioritized.

Providing Information and Counselling: Through data analysis that is college-specific, it will become easier to ensure borrower outreach strategies. For this purpose, various tactics should be embraced. For instance, contact information should be updated regularly, as well as references from borrowers (Minder, 2016). Borrowers who are default-prone should also be contacted regularly after leaving campus. Further, loan entrance counseling that is supplemental should be provided, including personal budgeting worksheets and loan request forms.

Word Count: 3000