agenda mohela great lakes nelnet navient. 2 delinquency outreach details

Agenda

MohelaGreat LakesNelnetNavient

MOHELA’s OutreachAct

ivit

ies

Perf

orm

ed

>360Days Past Due: 0 30 60 90 120 150 180 210 240 270 300 330 360

DELINQUENCY OUTREACH DETAILS

50-58 Day Notification


130 Day Notification

170-178 Day

Notification

60 Day Disclosure


211-218 Day

Notification

Final Demand

Transfer to DMCS2, communication to

borrower.

MOHELA completes additional phone attempts through out the delinquency. A portion of these calls are automatically scheduled and are completed by our dialer. The other portion of the calls are manual calls completed by an agent. We have improved our strategy to include the use of blaster campaigns for additional contact attempts, special dialer campaigns such as follow ups to mail and email campaigns, targeted due date campaigns based on forecasting in addition to required due diligence attempts

and the expansion of dialing efforts to include extended hours.

Delinquency email campaigns along with additional campaigns created to target specific borrower groups.

Specialized mailings are generated to reach out to borrowers to let them know that we are here to help. These additional mailings change – we do not have a static plan – we are always reviewing the portfolio and what our mailings were the prior quarter and the success associated. Recent mailings include: personalized legal letter, penny

postcard, personalized forbearance time available, buckslip inserted with delinquency letters and personalized affordable repayment with the IDR form..

Dedicated team of repayment assistance specialists manually reviewing/working their portfolio of accounts. The specialists perform manual calls, dialer calls, and

additional skip tracing activities for borrowers in skip and non-skip borrowers to locate new contact information through reference calls, relative calls and web searches.

Dedicated team of repayment assistance specialists manually

reviewing/working their portfolio of accounts.

Est

# o

f Con

tact

s/

Att

empts

Notes: A welcome letter/email is generated based on an incoming transfer. If the borrower pays the account in full a paid in full letter is sent. Skiptracing activities for invalid demographics exceeds requirements i.e. emails, phone attempts, utilize additional external resources. Cosigner/Co-maker collection and skiptracing activity meet the minimum requirements. MOHELA’s additional activities have been ongoing and are modified based on the tracking of success and cost effectiveness.

Key:

Required Activities Performed

Additional Activities Performed

2

1-7

3

1-10

3

1-12

3

1-12

3

1-12

3

1-12

2

1-12

3

1-12

3

1-12

2

1-12

2

1-5

2

1-5

2

0

1

0

34

12-123

TOTALS

MOHELA completes the required phone calls (1 contact or 2 attempts) beginning with day 36 of delinquency. Calls are scheduled to ensure no gap of 45 days occur between call attempts. Calls are schedule at day 36, 66, 96, 126, 151, 185, 215, 246+ through the transfer to DMCS2.

MOHELA generates a monthly statement 20-25 days prior to the due date. For the delinquency notifications MOHELA includes the required information.

Access the Loan Servicing Support section in Support Central to view samples of correspondence sent to your borrowers.

Borrower CorrespondenceBorrower Correspondence

Communications during the In School period are focused on early engagement to ensure borrowers understand who their servicer is as early as possible.

Borrower Communication Borrower Communication Timeline - In SchoolTimeline - In School

During Grace, our proactive communications ensure borrowers know it’s going to be time to start paying soon. Strategic segmentation allows us to target our messaging to borrowers in specific situations.

Borrower Communication Borrower Communication Timeline - GraceTimeline - Grace

Communications in the Repayment time period are focused on the borrower’s situation in an effort to ensure they successfully repay their loans.

Borrower Communication Borrower Communication Timeline - RepaymentTimeline - Repayment

In the Delinquency time period, communications are focused on reaching borrowers and working through their repayment options.

Borrower Communication Borrower Communication Timeline - DelinquencyTimeline - Delinquency

When borrowers have unique needs during the Repayment period, they receive other pieces of communications to help.

Postpone paymentsDefermentForbearance

Income-driven repayment

Other Repayment ScenariosOther Repayment Scenarios

We encourage all borrowers to create a website account.Loan informationMake paymentsExplore repayment optionsKeep contact information up-to-date

Borrower PortalBorrower Portal

mygreatlakes.org

Detailed loan informationBalancePayment terms, amounts, and due dates

Borrower Portal - Account Borrower Portal - Account Summary and DetailsSummary and Details

• Alerts• Paperless

messages• Missing

information• Past due

Borrowers can easily get more information and determine if consolidation is right for them.

Borrower Portal Tools and Borrower Portal Tools and Resources - ConsolidationResources - Consolidation

1. Bring any past due accounts up-to-date

2. Prepare• Gather information• Decide on a repayment

plan

3. Apply online4. Come back and track

the application

If they’re ready to apply, we make the process easy to understand.

Borrowers can use Knowledge Center to find information about student loans and other financial literacy topics.

Borrower Portal Tools and Borrower Portal Tools and Resources - Knowledge CenterResources - Knowledge Center

• Getting started• Money smarts• Payments• Repayment• Special situations

We’re putting the finishing touches on our new responsive website, which allows borrowers to access the Borrower portal from any device.

Borrower Portal Tools and Borrower Portal Tools and Resources - New SiteResources - New Site

We communicate regularly with borrowers at every stage of their student loan life-cycleEmailMailPhone (if needed)Social mediaText messages

Borrower Communications - Borrower Communications - NelnetNelnet


In School: First Year

letter (full-page mailed message)

email

message blast

mailer (full-page mailed message)


In School: Every Year After Initial Year


email

message blast



In Grace


email

message blast



In Repayment: First Year of Repayment


email

message blast



In Repayment: Every Year of Repayment (After First Year)


email

message blast


Welcome Email


In Grace EmailMonth 4: What to

Expect



In Repayment Email

Month 1: Repayment Plan Options

Account Management - NelnetAccount Management - Nelnet

Loan Assist AppiPhone and AndroidMake paymentsAllows borrowers to schedule payments up to 30 days in advanceCan review account and group summaryView their payment historyCheck status of deferment/forbearance requestsUse loan calculatorsSign up for text alerts


Text messagingBorrowers can opt inPayment due datePast due notificationsLoan status changesNotifications that their online statement is ready to view


#1 goal: Support your borrowers and help guide them toward successful student loan repayment by:

Keeping borrowers informed throughout their loan’s cyclewith timely, relevant communication, tools and resourcesProviding assistance to help our school partners withany concerns Constantly evaluating what we do and how we can continueto provide superior service

Overview | The Borrower Overview | The Borrower ExperienceExperience

Loan Life Cycle Touch PointsLoan Life Cycle Touch PointsWhat We DoWhat We Do

Exiting In-School Email CampaignNotifies borrowers when their in-school deferment is about to end and lets them know how to reenroll or next steps for repayment

Specialized Call RoutingWhen a borrower who is in school or grace calls us, they are routed to specialists who provide counseling and guidance to help them transition into repayment

Loan Life Cycle Touch PointsLoan Life Cycle Touch PointsWhat We Do What We Do (cont’d)(cont’d)

Borrower Communication | MessageBorrower Communication | MessageWhat We SayWhat We Say

New Loan In School• Warm welcome to Navient• Highlights total loans and amount borrowed• Online account set up• Look for future communications• Web links and toll-free phone number

• General reminder email – you have loans but at this point no action is required.

• Message: We’re here to help. Contact us!

Online - details account set up By phone - toll-free phone number

• Quarterly interest statements – with account balance, interest information, anticipated repayment begin date

Includes benefits of paying interestto avoid interest capitalization

Sent quarterly until accountenters repayment

Available by email:Your interest statementis ready!

Borrower Communication | MessageBorrower Communication | MessageWhat We Say What We Say (cont’d)(cont’d)

Entering Grace Exiting Grace• What is grace?• Expect your first statement• In-school deferment reminder and details• Income-driven repayment plan information• Online account set up• Message: What to expect and when

How to save money through repayment; details on repayment options

What you need to do now to stayon track

• Look for future communications

• Sent 45 days before first payment due date• Repayment options information

What you need to do right now to stay on track

Income-driven repayment plan information

• Message: Transition touch points Highlights what is owed and when Simple next steps; whether ready to

make payments or need to choose other options

Borrower Communication | MessageBorrower Communication | MessageWhat We Say What We Say (cont’d)(cont’d)

Repayment

• Message: You are in repayment! We are here if you need help Sign up for email – stay in the know Learn more about your repayment options – online or by phone Save money through auto debit

• Monthly billing statements• Provides relevant and timely messages to help borrowers better manage

their account• Provides critical account details: balance/interest/remittance slip

Borrower Support-Customer Borrower Support-Customer ServiceService

In School In Grace

• Our goal: Provide guidance and make sure students understand what toexpect next

• Dedicated call center agents counsel students and prepare them for a smooth experience and reinforce we’re here to help through:

• Online tools and resources Account access 24/7, including account information by email Repayment plan calculators

• Reminders about savings through auto debit

• Financial literacy materials Financial planning checklist Top 10 things to do at repayment

Borrower Support-Customer Borrower Support-Customer Service Service (cont’d)(cont’d)

Repayment

• We understand that life happens; financial difficulty may arise. Our dedicated agents help borrowers explore their options to choose a solution that works best for them.

Determine if borrower can afford to make a payment Explore eligibility for deferment Explain eligible repayment plans (including income-driven options),

model monthly payment amounts under different plans, and assist in changing to a new repayment plan

Explore eligibility for forbearance (This option is considered after all other options

have been exhausted)

Mobile | Borrower ResourcesMobile | Borrower Resources

Pay Loan

Dynamic new communication tools give improved experience for 24/7 account information •New web experience for phones•New loan management phone app

navient.comnavient.com

• New name, new brand – continued focus on superior education loan servicing

• Content counsels students and prepares them to use online tools and resources including:

Account informationby email

Repayment plan options and calculators

Online | Borrower ResourcesOnline | Borrower Resources

www.navient.com/loan-customers*New website!•Intuitive navigation and flow of information allows borrower to self-select data based on loan status•Easy access, intuitive navigation and customized alert features•Detailed information on repayment plans•Emphasis on assistance for those in need

Educational SupportEducational Support

Comprehensive financial literacy and loan management collateral available for download to assist borrowers every step of the way toward successful repayment

We have dedicated customer service agents with specialized skills to assist military service members and their families!

Keeping Schools InformedKeeping Schools Informed

www.navient.com/financial-aid-offices*•Detailed online information and new school portal give a clear view of how we are working togetherto help your students succeed •New portal contains snapshot portfolio summaries:

Loan and repayment status Default prevention statistics Call center and demographic metrics

Keeping Schools Informed Keeping Schools Informed (cont’d)(cont’d)

www.navient.com/financial-aid-offices*Relevant, timely information for your office and regarding your borrowers - available online and for download

Jim HarrisNelnet Education Loan Servicing970.226.2140(t) | 970.222.6399(c)E-Mail: [email protected]

Question and AnswerQuestion and Answer

Greg CarloNavient614.742.7123(t) | 614.557.4889(c)E-Mail: [email protected]

John BrownGreat Lakes800.640.8602(t) | 614.425.2912(c)E-Mail: [email protected]

Will ShaffnerMOHELA636-733-3830 (t) | 317-496-3996 (c)E-Mail: [email protected]

agenda mohela great lakes nelnet navient. 2 delinquency outreach details

Documents

borrower correspondence

school slide

borrower portal tools

date borrower portal

welcome email borrower

resources new site slide

repayment period

borrowers situation