Plan Your Communications

Plan to communicate with your student borrowers.


How do you plan to communicate with your students? As we all know they can be difficult to keep track of especially after they leave school. With the rules about making sure to keep default and delinquency rates low it is extremely important to have an effective plan to communicate with them.

Before we start talking about how they prefer to be contacted, we need to look at a few strategies to make this important job easier to manage. Unfortunately no one-size-fits-all appeal works in every situation, however, there is a selection of things you can try that have proven effective in many situations.


First, decide how much time and energy you can spare for these efforts. Take a look at your recent cohort default rates and delinquency numbers to get started. If your numbers are high, you may need to make a greater effort to reach out to at-risk students. If your numbers are consistently low you may not have to spend as much time. And remember, you can always rely on CornerStone to help you.


When segmenting your student borrowers your segments should be measurable, accessible, different, durable and substantial.

Second, segment your student borrower population into intuitive groups to help you manage them better. We have found that it helps to separate them by their level of delinquency first. You can create "buckets" of borrowers that have the same range of delinquency. From there, it's up to you to further segment them into logical groups, for example, you may want to group them by major or by loan balance or even by geographic area. These smaller groups will help you target the borrowers that need the most counseling. The added bonus of segmenting your student borrower population is that it makes it easier to track your progress and what strategies work with which populations.

Use Your Knowledge

It's time to start contacting your student borrowers. When communicating here are a few things to keep in mind.