Helping you prevent defaults
Now, more than ever, schools need effective default prevention strategies. But if your school is like most, you have very few resources for tracking loan performance, let alone locating delinquent borrowers. That’s where we can help.
Online default aversion tools
ECMC Select features online default aversion, a set of tools that help you target delinquent borrowers and get them back on track with their student loan repayment.
Our experience shows that interaction with borrowers is key to preventing default. That’s why we designed online default aversion to be flexible and intuitive, so you can intervene during delinquency with focused communications.
The customizable features enable you to quickly and easily:
- Devise default aversion strategies to meet the specific needs of your school
- Identify delinquent borrowers
- Produce reports and letters to support outreach
- Track outreach activities
- Support default aversion activities using uploaded data from other guaranty agencies, when data is received in a pre-defined format
The online default aversion tool is updated daily with ECMC data so you have the most up-to-date information on delinquencies and cures.
To start using online default aversion, contact EDE Support at ede.support@ecmc.org.
Comprehensive default prevention consulting
We’ve helped schools across the country design and implement effective default prevention programs.
If a borrower becomes delinquent, we provide you with the tools and resources you need to bring them back into good standing.
We can help you with your default prevention efforts with these free services:
- Comprehensive default prevention program review
- Assessment tools that evaluate your specific goals and programs
- Objective recommendations and programs for improving cohort default rates
- Online default prevention reports
Contact us to learn more about our default prevention services for schools.
You are not alone in the fight against delinquency and default
We maintain a cohort default rate lower than the national average. Our secret? We stay in direct contact with our borrowers and act quickly. When trouble happens, our default prevention counselors go to work:
- We work one-on-one with delinquent borrowers
- We provide experienced advice for their specific circumstances
- We help borrowers explore options like deferment and forbearance
- We explain delinquency and make the consequences of default clear
Our integrated technology and tools support these efforts, allowing us to maintain a high volume of one-on-one connections with our borrowers—this is our foundation for preventing default.
Lender–borrower mediation
When we make contact with a delinquent borrower, we can help them find a solution by bringing the borrower and the lender together in a conference call mediated by an ECMC counselor. With a 90% success rate, our mediation services are one of our most effective tools for preventing default.
Preventing delinquency through financial literacy
Helping borrowers understand their responsibilities is key to preventing default. We communicate regularly with borrowers to remind them of their obligations. Plus, we provide proven financial management strategies through our financial literacy materials and Financial Awareness Basics (FAB) website.
