This page contains information undertaken by Strathclyde University to assist students in understanding the responsibilities of borrowing US loans to fund their education and to reduce the number of students who default on their loan repayments.
1. Entrance Counselling
Entrance Counselling is a process that is intended to help borrowers better understand the responsibilities that they will be taking on with Federal Loans. All first time borrowers and new students to the University are required to undertake entrance counselling. During Entrance Counselling, students will learn about:
- How the MPN works
- The importance of repaying their loan
- The consequence of defaulting on the loan
- Sample monthly repayment amounts
2. Financial Literacy for Borrowers
The University of Strathclyde recommend students only borrow what they need and advise students are not required to take out the maximum amount of loans available to them. University of Strathclyde will provide students with entrance counselling materials at enrolment, following graduation or withdrawal and provide the following information:
- Estimate of required monthly payment on the borrower’s loan balance
- Calculators to help estimate and manage debt
- Loan service contact information
- Introduction to NSLDS for students
- Repaying your Student Loans publication
3. Early Identification & Counselling for Students at Risk of Progression/Withdrawal
The University is responsible for monitoring borrowers who are at risk of non-progression or withdrawing and offers different support services that counsel students according to their circumstances with a view to retaining those students. The aim is to ensure every effort is made to resolve any issues to prevent student withdrawal.
4. Communication
All students are directed to Strathclyde University’s Consumer Information and Policies on our website. Borrowers’ academic progress and enrolment status are held on our central student database to be accessible by all relevant offices across the University including the office that disburses funds and authorises US loan payments. Up-to-date contact information for both the student and next of kin is obtained from students at enrolment and stored on our student database. In addition, we request confirmation from the students’ advisers/supervisors of their satisfactory academic progress before disbursement of funds.
The University has effective procedures in place to ensure accurate and timely communications across the relevant departments. Therefore, academic progress and enrolment status is communicated across Campus ensuring the relevant aid is disbursed on time and to the correct students and compliance with Direct Loan regulations.
5. Exit Counselling
Prior to graduating students are reminded of their obligation under Federal Direct Loan regulations to complete Exit Counselling. They are asked to do this and confirm to the Student Finance team that counselling is completed. They are asked to complete it on the Federal Student Aid website. Students who withdraw from their programme or who fall below half time are also asked to complete exit counselling.
6. Timely and Accurate Enrolment Reporting
Strathclyde University will ensure that accurate information on enrolments including any enrolment changes or updates is reported in a timely manner via NSLDS.
7. Analyse Defaulted Loan Data
The University of Strathclyde will run defaulted loan data available from NSLDS and analyse the information to improve default prevention. This analysis and the Loan Record Detail Report will be used to pinpoint common trends amongst defaulters. Any student defaulting on their loans and who contact the Student Finance Team will be directed to their individual Loan Servicer and provided with contact details to discuss repayment options.
Tools & activities for schools
Strathclyde University will also make use of the below recommended tools to ensure data accuracy and employ effective loan counselling and default prevention and management techniques to aid students and the University.
Where do I begin?
Loan counselling
- Federal Student Aid:
- Loan Counselling
- Students and Counsellors
- How much will it cost?:
- How will I pay for it?:
- Will I make enough money in my chosen occupation to repay student loans I receive?:
- Repaying Your Student Loans:
- Ombudsman
- Ensuring Student Loan Repayment Best Practices
- Mapping Your Future
- Jump Start Coalition for Personal Financial Literacy
Enrollment Reporting & Data Accuracy
- National Student Loan Data System (NSLDS):
-
- NSLDS Date Entered Repayment Report
- School Repayment Information Loan Detail Report
- Enrollment Reporting Summary Report
- NSLDS Reports, requesting and formatting questions
- NSLDS Enrollment Reporting Guide (formerly SSCR User’s Guide)
- Cohort Default Rate Guide for information on challenges, adjustments, and appeals
Default prevention
- Default Management
- Ensuring Student Loan Repayment Best Practices
- National Student Loan Data System:
- NSLDS Reports and Exit Counselling
- NSLDS Reports, requesting and formatting questions
- Late Stage Delinquency Assistance (LSDA) Guide
- Federal Student Aid Partner Connect: Direct Loan Servicing/Schools website, accessed via COD website
- Default Prevention Strategies
General connections/publications
- Federal Student Aid Partner Connect: Information for Financial Aid Professionals (IFAP) Library with publications, training, tools, references, laws
- Office for Federal Student Aid
- Federal Student Aid
- National Student Loan Data System