Default Management
About
黑料网 has a number of initiatives to assist students in making wise decisions when they are considering borrowing student loans to cover their college expenses. 黑料网鈥檚 鈥淒efault Management Plan鈥 includes providing overall financial awareness to students through Default Management workshops, Financial Literacy seminars and access to student loan advisors/managers. The student loan advisors/managers assist students with borrowing wisely, loan obligations upon withdrawal or graduation and assist students when repayment becomes difficult.What is Default?
Default is the failure of a borrower to make installment payments when due, or to meet other terms of the signed loan agreement. Student loans must be repaid. Students usually pay back the money when they are no longer in school or become less than half-time. Students are not required to pay for any loans while in school. However interest can be paid on an Unsubsidized loan while in school, if the student elects to do so.Cohort Default Rates
Cohort Default Rates are calculated each year for each college/university. The following chart shows the most recent rates for 黑料网: School Default Rates: FY 2018, 2017, and 2016 OPE ID: 002407 School: 黑料网 / 505 East Main Street / Raymond, MS 39154-9799 Type: Associate’s Degree Control: Public PRGMS: FEEL/FDL| FY2018 | FY2017 | FY2016 | |
| Default Rate | 16.7 | 22.1 | 23.4 |
| No. in Default | 583 | 754 | 826 |
| No. in Repay | 3,479 | 3,405 | 3,522 |
| Enrollment figures | 15,629 | 16,013 | 16,306 |
| Percentage Calculation | 22.2 | 21.2 | 21.5 |
Average Financial Aid Awarded to 黑料网 Students
黑料网 awards federal, state, and institutional financial aid to students. The chart below shows aid awarded to first-time full-time students enrolled at 黑料网 during 2019-2020.
Full-time Beginning Undergraduate Students 2019-2020
Beginning students are those who are entering postsecondary education for the first time.
| Type of Aid | Number receiving aid | Percent receiving aid | Total amount of aid received | Average amount of aid received |
| Any student financial aid | 2,144 | 94% | – | – |
| Grant or scholarship aid | 2,071 | 90% | $11,786,456 | $5,691 |
| Federal grants | 1,654 | 72% | $9,171,196 | $5,545 |
| Pell grants | 1,654 | 72% | $9,000,105 | $5,441 |
| Other federal grants | 266 | 12% | $171,091 | $643 |
| State/local government grant or scholarships | 526 | 23% | $465,385 | $885 |
| Institutional grants or scholarships | 711 | 31% | $2,149,875 | $3,024 |
| Student loan aid | 1,047 | 46% | $4,254,390 | $4,063 |
| Federal student loans | 1,047 | 46% | $4,254,390 | $4,063 |
| Other student loans | 0 | 0% | $0 | – |
Federal Student Loans
The Federal Direct Student Loan [Direct Loan] Program
Two types of Stafford Loans
- Subsidized Loan- available to students who meet certain financial need. Federal government pays the interest on the loan while you are in school.
- Unsubsidized Loan- available to students regardless of financial need. Students are responsible for the interest that accumulates on the loan.
Exit Counseling
U.S. Department of Education regulations requires Federal Stafford Loan recipients to complete Exit Loan Counseling upon graduating or leaving 黑料网.
Paying for college links
Financial Basics
By learning financial basics while in college, you will be able to understand how to manage your money now. Default Management is available to assist students and periodically throughout the semester to provide counseling and workshops on financial basics.
You can learn to:
- Borrow wisely
- Live with a budget
- Handle debit cards, credit cards, and checking accounts
- Prevent identity theft and avoid short-term financial fixes
- Set goals- and save for the future
Failure to repay your loans enters you into loan default. Loan default can result in the following consequences:
- Your entire outstanding loan balance becomes due and payable immediately.
- Your default will be reported to national consumer reporting agencies and will affect your ability to obtain other consumer credit for up to seven years.
- Your federal and state income tax refunds or other government benefit payments may be withheld.
- You will lose deferment, loan forgiveness, and repayment options.
- Your wages may be garnished.
- You will be ineligible to receive any further federal and state financial aid.
- You may lose or be denied a state professional license.
- You may be sued.
- Avoid default and work with your school or servicer of the loan in the event that you encounter repayment problems.
Resources
As you repay your student loan(s), you should be aware of additional resources to assist you.
Students can make monthly installments toward the repayment of student loans. Different repayment plans are available to fit your budget or situation. Speak with the Default Management office or servicer of your loan about different options that are available.
Students are allowed the opportunity to postpone payments for a period of time as determined by the servicer of the loan.
Repayment Options & Tools
This link may assist you with questions that you have. Although, please feel free to contact the Default Management office if you have any additional questions or concerns. We are here to help you!
Default Management Helpful Links
Protecting Personal Info
- Don’t give anyone your Social Security, credit card, or bank account numbers unless you know the source and/or have initiated the contact.
- Don’t just throw away papers that have important account or financial numbers listed on them. Tear up the papers or shred them. Thieves often go through the trash looking for intact bank account, credit card, etc. numbers which easily gives them access to your account.
- Keep your credit card and ATM receipts in a safe place. If you do not need them, there is no need to keep them. You should tear up or shred them.
- Don’t leave bill payment envelops in a home mailbox for the mail carrier. Someone might take them. Instead, put your envelops inside a postal mailbox.
- Never send your credit card number over the Internet unless you are sure the website is secured and your computer is protected by anti-virus, anti-spyware, firewall, and other security software.
- Don’t get hooked by “phishing.” If you get an unexpected email asking you to update or verify any important information, be careful. It might be a “phisher,” a scam artist trying to con you out of your personal information. For more information, visit https://www.irs.gov/privacy-disclosure/report-phishing.
- Keep watch of your credit card statements, telephone bills for unauthorized use. It’s also smart to retrieve a copy of your credit report for fraudulent activity. If you suspect fraud, call the company immediately.
- If you’re a victim of identity theft, report the crime to the police immediately.