[Natfinwellness] Loan Debt Letters

[Schuman, Philip Andrew]

Nicole,

At Indiana University, we’ve been sending out the debt letters through Financial Aid the last few years.  I don’t actually have the answer to your question, but the webinar that NSCFW is holding on Thursday at 3pm EST will be about IU’s debt letters and it would be a great opportunity to get in touch with those in charge of our debt letter and ask them.  If you need more information about the webinar, go here to register: http://goo.gl/forms/YajjJaPkkC and the login information will be on the confirmation page.  Hopefully that will help.  Thanks!

Phil


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Phil Schuman

Director of Financial Literacy

980 Indiana Ave., #4415

Indianapolis, IN 46202

317.274.7430 / phaschum at iu.edu<mailto:phaschum at iu.edu>


[cid:540879F0-BFCD-4B50-A767-776F190ADF5A]


From: Natfinwellness <natfinwellness-bounces at lists.osu.edu<mailto:natfinwellness-bounces at lists.osu.edu>> on behalf of Derek A Brainard <dabraina at syr.edu<mailto:dabraina at syr.edu>>
Reply-To: National Financial Wellness Listserv <natfinwellness at lists.osu.edu<mailto:natfinwellness at lists.osu.edu>>
Date: Tuesday, February 23, 2016 at 7:24 PM
To: National Financial Wellness Listserv <natfinwellness at lists.osu.edu<mailto:natfinwellness at lists.osu.edu>>
Subject: Re: [Natfinwellness] Loan Debt Letters

Same question!

Regards,

Derek Brainard
Syracuse University
Financial Literacy Coordinator

On Feb 23, 2016, at 6:31 PM, Nicole Solomon <Nicole.Solomon at mail.wvu.edu<mailto:Nicole.Solomon at mail.wvu.edu>> wrote:

Hello all –

I hope everyone is doing well.  I have a question, and I’m hoping someone can help.

Prior to award letters going out to returning students, we send an “indebtedness” letter to let them know how much they have borrowed in federal loans at this point to make students think about their debt right before they accept loans for the upcoming aid year.  Last year this had an average impact of 10% - 13% on their borrowing for the following aid year.

We would like to include an estimated monthly repayment for their loans on this letter, but we are not sure where to get that information or how to calculate it.  Does anyone do something similar and include an estimated monthly payment tailored to the students’ debt?  If so, do you include Perkins loan debt as well?

Any help you all can provide will be greatly appreciated.  Thank you in advance!

Sincerely,

Nicole

Nicole Solomon
Assistant Director of Outreach and Communication
WVU Financial Aid Office
Phone: 304-293-5242
Fax: 304-293-4890
http://financialaid.wvu.edu/
www.facebook.com/wvufinancialaid<http://www.facebook.com/wvufinancialaid>
www.twitter.com/wvufinancialaid<http://www.twitter.com/wvufinancialaid>

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