Wesleyan College improves its CDR with a personal touch.
Wesleyan College is a liberal arts women’s college located in Macon, Ga. It offers undergraduate degrees in 31 major and 28 minor academic programs, eight pre-professional programs and a bachelor’s degree in nursing. Wesleyan was chartered in 1836, and was the first college in the world to grant degrees to women.
Borrower Connect™ cohort management solution and our financial literacy and student success program
“Our emphasis will continue to be on the personal touch with students and their families, helping to ensure that they’re making good financial choices from the time they first visit our campus all the way through repayment.”
Danielle Lodge, director of financial aid, Wesleyan College
Reductions in personnel left Wesleyan College without a person dedicated to student loan borrower outreach. At the same time, the college’s cohort default rate was rising, drawing the attention of both the college and the U.S. Department of Education.
Wesleyan College combined extensive in-person and phone contact with enhanced financial literacy offerings. It developed a new financial literacy lab, serving as a central location where students can get assistance with tools like FAFSA on the web, scholarship searches and our online financial literacy and student success curriculum.
The school implemented Borrower Connect to report on which borrowers need the most attention after leaving school and to reach out to those borrowers. Due to enhanced contact before they leave school, borrowers now are more receptive to the school’s messages.
Wesleyan has surpassed its cohort default rate goals and remains focused on reducing the amount students borrow. The school’s three-year default rate went down to 6.2 percent for 2012 and 7.9 percent for 2011, from 13.2 percent in 2010 and 15 percent in 2009.