Re: 45-day calls on student loans

From: Duly, Jeffrey S (jeffrey.s.duly@vanderbilt.edu)
Date: Thu Jan 30 2003 - 14:15:55 EST

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    > 1- How many of you have staff make collection calls on student
    > loans when they become 45 days past due?
    > 2- Whether yes or no, why? (cost v. benefits?)

    I have a member of my staff making 45 days calls. She handles the
    "friendly reminder" calls before they get further past due and I
    sick my collector on them. It has always been our practice to
    contact them early and fairly often. It is a tactic that has worked
    well to bring our overall default rate below 3%.
    ----------------------------
    Jeffrey Duly
    Manager
    Office of Student Loans
    Vanderbilt University
    www.vanderbilt.edu/stuloans/

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