School Participation and Partnerships with Financial Aid Professionals

1
School Participation and Partnerships with
Financial Aid Professionals

• Carrie Steere-Salazar
• UCSF
• Paul S. Garrard
• NCHELP

2
Congratulations to Carrie! She is now the new
Director of Financial Aidat UCSF!
3
School Participation and Partnerships with
Financial Aid Professionals

• Carrie Steere-Salazar
• UCSF
• Paul S. Garrard
• NCHELP

4
Questions for Carrie

• How do you decide which organizations you will
  partner with?
• Do you partner with more than one organization,
  and is that ethical?
• What constitutes crossing the line between
  offering support and offering inducements?
• How does the School as Lender Model (SLM) apply
  to partnerships?

5
Questions for student loan industry partners

• How do you decide which schools to target for
  partnerships?
• What constitutes crossing the line between
  offering support and offering inducements?
• What determines how long your partnership will
  last with a given institution?

6
School Participation and Partnerships with
Financial Aid Professionals

• Carrie Steere-Salazar
• UCSF
• Paul S. Garrard
• NCHELP

7
Why Partner?

• Resource Issues
• Craft the message to fit population
• Undergraduate
• Transfer
• Graduate
• Health Sciences

8
Successful partnerships

• Lenders as Entrance/Exit partners
• Lender wraps
• Lenders printing materials
• Guarantor assistance
• Default management programs
• Resources as grants to improve social outcomes
• Outreach

9
Restrictive Partnerships

• Exclusive lender agreements
• Benefits versus negatives
• Banking agreements on campus
• ATM
• Kiosks
• Bookstore
• Others?

10
School minefields

• Approaching alumni groups for graduate
  lists/consolidation
• Telemarketing consolidation
• Nightly calls
• Emails
• Advertising campaigns
• Small print disclaimers

11
School Participation and Partnerships with
Financial Aid Professionals

• Carrie Steere-Salazar
• UCSF
• Paul S. Garrard
• NCHELP

12
AAMC and AAMC MEDLOANS Program

• Association of American Medical Colleges (AAMC)
  represents academic medicine (MCAT, etc.)
• AAMC uniquely qualified to tailor loan program
  for medical students
• MEDLOANS started at request of aid community who
  wanted a private loan in lieu of HEAL for students

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MEDLOANS Debt Management Program

• MEDLOANS Debt Management Program, including
  in-person workshops, on VHS tape, and on the Web
  through streaming technology
• streaming allows 24/7 access, which is perfect
  for medical residents, students, and even aid
  officers
• www.aamc.org/DEBTHELP, look for The Laymans
  Guide

14
AAMC streaming workshops on the Web

• started with a national videoconference that was
  taped
• word got to the right organization (small, up and
  comer, into distance education) about our
  workshops
• bargain basement price for AAMC
• paid for with income from MEDLOANS partners

15
AAMC streaming workshops on the Web (continued)

• enter through AAMC Web site (site actually hosted
  elsewhere)
• pick from a menu of options, or watch the entire
  workshop in sequence
• menu included descriptions and time of each topic
  (capitalization, deferment, forbearance, etc.)

16
UCLA School of Medicine pilot project with AAMC

• special password for UCLA students
• access to same menu of options
• special welcome message from Dean Neil Parker
• evaluation tool so aid office could track what
  their students had watched
• cited as Best Practices by ED

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why partnerships are important to schools

• resources are limited
• FAOs are the gatekeepers, they know the students,
  but the loan industry knows the particulars of
  the loans (marriage made in heaven)
• there is more to a loan than just the loan
  itself, and this is where I think the FFELP
  community can shine

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Unique challenge to the FFELP community

• Provide assistance, but help elevate the
  financial aid officer profession
• Provide assistance without providing incentives
  or inducements
• Remember to keep the borrower first
• Accountability will be the key in Reauthorization

19
Questions for Carrie

• How do you decide which organizations you will
  partner with?
• Do you partner with more than one organization,
  and is it ethical to do so?
• What constitutes crossing the line between
  offering support and offering inducements?
• How does the School as Lender Model (SLM) apply
  to partnerships?

20
Questions for student loan industry partners

• How do you decide which schools to target for
  partnerships?
• What constitutes crossing the line between
  offering support and offering inducements?
• What determines how long your partnership will
  last with a given institution?

21
THANK YOU!

• Carrie Steere-Salazar
• UCSF
• Paul S. Garrard
• NCHELP