USA Funds Debt Manager Enhancements Aid in Communication With Borrowers

A variety of new enhancements to USA Funds Debt Manager^® make it even easier for schools to stay in contact with their education-loan borrowers. The following are among the USA Funds Debt Manager enhancements effective Jan. 22:

• A new communication strategy called “Delinquency Aging” is designed to mirror the USA Funds Debt Manager delinquency-aging report. Users can generate a calling campaign or letter/e-mail campaign for all delinquent borrowers in a given cohort year, or for just those who are at risk of defaulting within the current cohort year. This enhancement gives schools an easy way to quickly target communications to borrowers who need it most.
• USA Funds Debt Manager now captures the “Paid-in-Full Reason” when a loan is paid in full by the borrower or through consolidation. Additional enhancements help ensure that all paid-in-full loans are reported for each year, to improve the accuracy of data reported in the delinquency-aging report.
• The USA Funds Debt Manager Help feature offers a series of new “Show Me" tutorials, allowing users to launch page-specific topics or view the entire menu of items that guide users through key activities. Help also provides printable instructions and offers screen navigation with audio commentary.
• New borrower-search criteria allow searches by e-mail address — an important feature for those who use e-mail campaigns, as it allows users to more easily find borrowers whose e-mails bounce back as undeliverable.
• USA Funds Debt Manager users can print the Delinquency Aging Report by Office of Postsecondary Education ID and by Lender/Servicer ID, and can include a Detail File of Borrowers in the report. This report no longer includes loans that have a false-certification or school-closure claim in the total and defaulted borrower counts. This enhancement enables users to segment their cohorts to examine smaller populations within their repayment years
• Users now can retrieve a unique ID on a borrower account and import it into individual letters as data tags. Data tags act as placeholders within the documents that indicate to USA Funds Debt Manager where to insert specified types of information. This enhancement provides another way for USA Funds Debt Manager users to make borrower letters more personalized and meaningful.
• Report descriptions now are available on each report page, giving users quicker and easier access to report samples as they create report strategies.
• A new “sort” feature on the Portfolio Summary screen displays information specific to Federal Stafford loans and current repayment year. The new feature allows users to see more-specific information regarding the current repayment year.

Accepts data from other lenders
Additionally, USA Funds reminds USA Funds Debt Manager users that they can accept data from other lenders and servicers. Receiving data from additional lenders and servicers enables users to reach a broader base of borrowers and provide more-comprehensive loan counseling for those borrowers. USA Funds Debt Manager users who have lenders or servicers that are interested in sharing data with USA Funds Debt Manager should contact Mary Jo Adams, product-support manager.

For more information about USA Funds Debt Manager, contact your USA Funds debt-management consultant.