#3 and last in the series
There’s turbulence ahead in the student loan business. How can lenders and financial aid administrators (FAAs) work together to identify and stake out the “high ground” in the eyes of American consumers and government agents?
Here are three more suggestions.
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Jeff Wendt
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FAAs and their staffers can become more adept at counseling consumers who are over-24. They make up more than half of U.S. college enrollments. They are often credit-savvy and very interested in speed and convenience.
Help FAAs weave personal finance and tax tips into their counseling repertoire.
Help FAAs become more sensitive to consumer attitudes about the FAFSA. With each passing year consumers are more reluctant to complete the form. And less rewarded by it. Size up a consumer before steering him or her to a Stafford loan because “it’s the cheapest.” He or she may not necessarily want “the cheapest.” He or she may appreciate knowing about other values in other products.
Jeff Wendt is publisher of The Greentree Gazette.