Lender, Guarantor Data Enhances Value of Debt-Management Tool

Regular communication with students is one of the ways schools can positively influence cohort-default rates and promote financial literacy among student-borrowers. USA Funds Debt Manager^® makes it easy to communicate with borrowers, and ultimately help prevent loan delinquencies and reduce cohort-default rates. 

USA Funds Debt Manager displays borrower and loan information via a secure Web site. Schools log in and use this borrower and loan information to help target communication efforts. For example, if sending a letter to all borrowers who are just entering repayment, USA Funds Debt Manager finds all borrowers who match that description and generates a letter for each of them. In order for USA Funds Debt Manager to identify those borrowers, lenders, lender-servicers or guarantors must send borrower information for the school to USA Funds Debt Manager.  

To help effectively communicate with all student-borrowers, timely information from the lender or lender-servicer is a key component. USA Funds Debt Manager was created as an open system, capable of receiving information from lenders, lender-servicers and guarantors. 

Schools that are interested in importing borrower and loan information into USA Funds Debt Manager should contact their lenders to make a formal request for the data. Lenders should contact Mary Jo Adams via e-mail for file specifications and set-up information.

Access to the loan data managed within USA Funds Debt Manager is restricted to school personnel. USA Funds^® staff and USA Funds guarantor-servicer have access only to the extent necessary to support a school’s use of USA Funds Debt Manager.