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Everyone has to take time to get involved and provide input, because we all know our institutions depend on the resources that the FAO brings in. |
Featured Articles... Get all the offices in your institution to help. At a larger institution, this is easier said than done. "It's the FAO's responsibility!" and "I don't have time to do their work!" are familiar words on some campuses. Everyone has to take time to get involved and provide input, because we all know our institutions depend on the resources that the FAO brings in. Communication is essential - get to know everyone. Use questionnaires to obtain contact information for the students, their friends, and relatives. Invite everyone to the entrance and exit interviews. Meet everyone at graduation, especially students who may encounter problems in the future. Take the time to get to know as many of the student's references as you can. It's much easier to phone someone you know. Take a relaxed and sincere attitude with anyone you talk to. Exit interviews are critical. Conduct exit interviews on an individual basis and emphasize points specific to the student. If time does not allow for individual sessions, keep groups small to encourage more questions. During exit interviews, tell your students if they show up on your delinquency list and you haven't heard from them, you will call. Surprisingly, the majority may call you if they are having problems - you won't have to call them. The same thing doesn't work for all students. Tailor your approach on a student-to-student basis. What works for one student may not work for another. If what you tried didn't work, try something else. Be flexible and understanding - not demanding or intimidating. It doesn't happen between 8 a.m. and 5 p.m. If you don't have the luxury of hiring a collection agency, it may require nights and weekends to contact delinquent students and reduce your default rate. Have deferment and forbearance forms with you when you talk to students who are delinquent. As you talk to students who are delinquent, immediately address and insert whatever form they need in a stamped, self-addressed envelope. When you receive the form back, keep a copy until the name comes off of your delinquent borrower list. Send the original form directly to the lender. It can be done, but it takes time! It takes a while, but it can be done. You will be proud of what you've accomplished by sticking to it. And "nothing" is a sweet reward for both schools and students. |
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