<p>I work really, really hard to keep my school’s default rate down. In addition to one-on-one counseling with current students, I reach out to every former student who has late payments, providing information about options for repayment. Unfortunately, some still totally ignore my communications and the servicer’s communications. It’s incredibly frustrating. Yes, as a financial aid administrator I do have the responsibility to educate my students … I do that. In the end, though, I cannot force them to pay up. I am fortunate, as my school has a low default rate. However, I realize how little “I” am in control in the end.</p>
<p>But I do agree that schools that work to educate their students about budgeting, borrowing and repayment … and schools that have programs in place to encourage academic success … will most likely have lower default rates than they otherwise might.</p>