Bennett College for Women is a private, four-year Historically Black College or University that serves 500 students. The college is located in Greensboro, N.C.

The college’s debt-management initiatives have reduced its cohort-default rate to less than 3 percent from a high of nearly 28 percent since 1998.

Its expansive activities, which include a default-management plan, debt-management seminars, financial-aid-week programs, credit counseling, assembly presentations, as well as phone and letter campaigns, are conducted by one staff person with the assistance of a part-time work-study student.

During student-loan entrance interviews, student-loan borrowers are advised how to maintain a student-loan-file ledger to keep track of their education-loan debt. Students are reminded of their loan obligations during financial-aid-week activities and assembly programs. One such assembly featured the presentation of a satire, “Loan Doctors and Scholarship Wizards.” The skit demonstrated how irresponsible borrowing can adversely affect students’ financial futures and also advised students of the benefits of scholarships.

Toward the end of their academic careers, Bennett College students participate in debt-management seminars and exit-counseling sessions. Topics include selecting a repayment plan, deferment, forbearance, loan consolidation and cancellation, understanding credit reports and credit scores.

When former students show up on lists of borrowers whose loans are past due, a Bennett College staff member makes telephone calls to the borrowers and sends follow-up letters reminding them to bring their accounts current.