[Natfinwellness] Debt Letter

Fri Oct 14 16:39:39 EDT 2016

Thanks for bringing this up Flor. My school just uses the info that comes in on the FAFSA (since our students tend to have debt from prior schools). To my knowledge there is no aggregate report from NSLDS that can be reformatted into a flat file to upload into our database. We researched that method when we first implemented our debt letter (per Indiana law).

I guess now we have to get creative, as the 1718 ISIR files we receive won't have debt from the 16/17 academic year.

Good luck to you...!

Crystal Baker
Director, Student Financial Aid
Indiana State University
www.indstate.edu/finaid

From: Natfinwellness [mailto:natfinwellness-bounces at lists.osu.edu] On Behalf Of Carabez, Flor
Sent: Thursday, October 13, 2016 1:36 PM
To: National Financial Wellness Listserv <natfinwellness at lists.osu.edu>
Subject: Re: [Natfinwellness] Debt Letter

Is your school individually retrieving student information from NSLDS, or are they somehow pulling mass files. If they are pulling mass files, which file are they pulling?

Flor E. Carabez

Financial Education Consultant & Financial Literacy Specialist
Columbia College Chicago

From: Natfinwellness [mailto:natfinwellness-bounces+fcarabez=colum.edu at lists.osu.edu] On Behalf Of Hertling, Leo J
Sent: Thursday, October 13, 2016 12:22 PM
To: National Financial Wellness Listserv
Subject: Re: [Natfinwellness] Debt Letter

Aggregate amounts borrowed are reported on the letters sent out.  We report on anything that we have in our systems as well as anything that we can see that the student has borrowed that is listed on NSLDs.

We then attempt to project how much the student will borrow if they continue at their current rate and take a guestimate at what their payment may be given the known interest rates.  With private loans, this is a little murkier as interest rates are not regularly disclosed to us on an individual basis.

This is something that is mandated by Indiana law.  Any school that receives assistance from the state must provide these letters to their students.

I don't see that the move to PPY will affect the letters any as the information being reported to the student is not related to data on the FAFSA.

Hope this helps,

Leo

Leo Hertling
Associate Director
Division of Financial Aid
Purdue University
765-494-5074 (V)
765-496-3918 (F)
hertling at purdue.edu<mailto:hertling at purdue.edu>

[Description: Description: p_web]Boiler Up!

From: Natfinwellness [mailto:natfinwellness-bounces at lists.osu.edu] On Behalf Of Carabez, Flor
Sent: Wednesday, October 12, 2016 3:57 PM
To: National Financial Wellness Listserv <natfinwellness at lists.osu.edu<mailto:natfinwellness at lists.osu.edu>>
Subject: Re: [Natfinwellness] Debt Letter

And you're able to pull the aggregate amounts for all the student loans?

Flor E. Carabez

Consultant, Outreach and Education

Columbia College Chicago: Student Financial Services

600 S. Michigan Ave. Ste 303

Chicago, IL 60605

Email: fcarabez at colum.edu<mailto:fcarabez at colum.edu>

________________________________
From: Natfinwellness <natfinwellness-bounces+fcarabez=colum.edu at lists.osu.edu<mailto:natfinwellness-bounces+fcarabez=colum.edu at lists.osu.edu>> on behalf of Schuman, Philip Andrew <phaschum at iu.edu<mailto:phaschum at iu.edu>>
Sent: Wednesday, October 12, 2016 2:44 PM
To: National Financial Wellness Listserv
Subject: Re: [Natfinwellness] Debt Letter

Flor,

We send out debt letters to our students and we're not seeing changes as a result of prior-prior.  The majority of our campuses send them out after the spring disbursement.

Phil

[pastedGraphic.png]

Phil Schuman

Director of Financial Literacy

504 N. Fess Ave.,

Bloomington, IN 47408

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

[cid:image003.png at 01D22639.8E818550]

From: Natfinwellness <natfinwellness-bounces at lists.osu.edu<mailto:natfinwellness-bounces at lists.osu.edu>> on behalf of "Carabez, Flor" <fcarabez at colum.edu<mailto:fcarabez at colum.edu>>
Reply-To: National Financial Wellness Listserv <natfinwellness at lists.osu.edu<mailto:natfinwellness at lists.osu.edu>>
Date: Wednesday, October 12, 2016 at 3:07 PM
To: National Financial Wellness Listserv <natfinwellness at lists.osu.edu<mailto:natfinwellness at lists.osu.edu>>
Subject: [Natfinwellness] Debt Letter

Hello everyone,

I hope this message finds you all well. Out of curiosity, do any of your respective schools send out letters to the student body notifying them of their loan debt up-to-date? If so, how will this continue with the prior-prior year efforts with FAFSA?

Our school wants to adopt this action piece as well, however, we are struggling with the prior-prior year efforts, since this will not allow for us to generate aggregate up-to-date info for the whole student body.

Please email me for clarity or if any of you are already moving forward with these projects.

Thank you in advance,

Flor E. Carabez

Consultant, Outreach and Education

Columbia College Chicago: Student Financial Services

600 S. Michigan Ave. Ste 303

Chicago, IL 60605

Email: fcarabez at colum.edu<mailto:fcarabez at colum.edu>

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