Default prevention

Preventing default, one borrower at a time

We communicate regularly with borrowers to remind them of their obligations.

Preventing delinquency through financial literacy

Promoting overall financial literacy is a key to preventing default. We provide financial literacy tools that help borrowers take control of their finances.

Working with borrowers who are delinquent on their federal student loans

We take a direct, personal approach to default prevention. Our counselors work one-on-one with delinquent borrowers to help get them back on track.

ECMC's experienced default prevention counselors use a systematic approach, including:

  1. Telephone calls and letters that clearly explain options available to the borrower
  2. Individual options for each borrower, such as income-driven repayment plans, forbearance and deferment
  3. Clear explanations of default and its consequences

Our counselors help borrowers find a solution, send them the appropriate form with instructions for completing the form, or bring the borrower and the lender together in a conference call to help them resolve their delinquency. Our facilitation services are one of our most effective tools in preventing default.