A Behavioral Perspective on Student Debt
The ‘Student Debt Crisis’ is often in the news but what seldom gets mentioned is that more than half of the 4 million borrowers who leave school every year owe less than $20,000 and that those who owe the least when leaving school are the most likely to default.
Current loan counseling approaches often focus on financial literacy, but this approach too often misses the fact that attention is actually the limiting factor in students’ lives. Students are going through a major life transition as they leave school and enter the working world. They need an easy way to manage their loans and build a budget without having to become an expert of this complex system.
Helping Students Build Strong Credit Profiles
Designed to help students both while they’re in school and after they depart, our web-based solution makes it easy for student-borrowers to establish healthy repayment behaviors.
Our system puts students on a path to financial success by guiding borrowers to take the most important actions with the least amount of friction.
Setting Students Up for Success
Personalized process shows students the exact options available for them
Guides students to establish their servicer relationship right away
Helps borrowers actively choose a repayment plan that is best for them
Mobile optimized web application
Building Healthy Repayment Habits
Facilitates budget and repayment planning
Offers triggered interventions if a borrower misses a payment
Behaviorally informed messages nudge borrowers to take action
Reinforces healthy repayment behaviors