Let Our Dedication Help You Succeed
At American Student Assistance® (ASA), we are committed to students’ success. Our loan calculators, budget worksheets, and Wellness programs are just some of the resources we offer to help borrowers during college and beyond. Additionally, by offering quality delinquency prevention initiatives and delivering guarantee, origination, and fund delivery services, we allow financial aid officers to spend time on what matters most—students and their families. ASA understands that assisting borrowers to achieve healthy financial futures is a responsibility. It is one we all share.
ASA’s Cohort Default Rate
Cohort default rates (CDRs) monitor effectiveness in default prevention. They track the borrowers within a Federal Family Education Loan Program (FFELP) participant’s portfolio who default within 2 years of entering repayment. The most current CDR tracks borrowers whose first loan repayments came due between October 1, 2006 and September 30, 2007, and who defaulted before October 2008.*
American Student Assistance® (ASA) is consistently among the lowest in the nation in CDR. At just 3.7%, ASA’s current CDR is the second lowest among all national guarantors, and well below the national average rate of 6.7%.
ASA remains committed to borrowers’ rights and debt management services, especially during these tough economic times. Now more than ever, borrowers need help successfully repaying their student loans.
* The 2008 Reauthorization of the Higher Education and Opportunity Act changed the CDR definition. Beginning in 2011, CDR will measure the percentage of borrowers who default within the first 3 years of entering repayment.
Customer Service That Sets Us Apart
Our regional account executives and school services team work together to provide schools and borrowers with exemplary customer service.
Results:
- – 97% of our school clients are satisfied with the client management services we provide
- – 96% say they are satisfied with their client manager’s proactive communication
- – 92% of borrowers are satisfied with the services offered by ASA’s call center
Think About Tomorrow
Think of ASA as a resource for industry information, regulatory updates, and training sessions designed to help both students and financial aid professionals. We deliver the right information, when it is needed most, to successfully manage education debt.
Results:
- – We lead the industry in financial literacy training initiatives
- – Every month we educate at least 333 students about financial literacy
- – In 2007, our staff of financial aid advisors held 1,596 borrower training and advising sessions
Investing in Students
When students default on their federal education loans, it costs taxpayers money. By using our Wellness model to connect with students during each stage of repayment, we ensure that their loans remain in good standing.
Results:
- – We rehabilitated more than $116 million worth of defaulted loans in 2007
- – Our default prevention and rehabilitation efforts have saved taxpayers more than $40 million over the last 6 years
- – Our post-default recovery solutions present win-win scenarios for borrowers and for taxpayers
Contact us today to find out more about how ASA acts as a trusted agent for schools and borrowers.
