As you develop and refine your RFPs, you may want to ask lenders if and how they are helping borrowers in these tough economic times. For example…
- Did you know that some lenders charge borrowers $50 to request forbearance? At T.H.E., we don’t penalize borrowers for requesting help.
- Did you know that some lenders have chosen to tighten their PLUS and Grad PLUS credit criteria? At T.H.E., we continue to comply with the Department of Education’s adverse credit guidance on all PLUS loans.
- Did you know that some lenders’ only point-of-contact or outreach regarding repayment strategies occurs after a student graduates and becomes delinquent? At T.H.E., our students receive a clear strategy for repayment before graduation through our proactive outreach or when talking to one of our knowledgeable customer service representatives.
So go ahead. Why not ask your lenders?