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Cohort Default Program
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At Williams & Fudge we understand how critical it is to maintain a low cohort default rate for the Federal Perkins Student Loan Program. We were one of the first agencies in the country to develop a comprehensive cohort default prevention program. Our "Cohort Default Management Team" is committed to bringing quick resolution to your cohort accounts.
All cohort accounts are placed with a flag to designate their special status. The situation of each cohort debtor will be evaluated based on the number of days past due and the borrower's ability in order to determine the appropriate collection steps. Our "Cohort Collection Team" will seek deferments, forbearance, consecutive payments, and/or payment of the amount owed to remove the accounts from default status.
Williams & Fudge has on-line access to the National Student Loan Clearinghouse. All cohort accounts are cross-referenced with the clearinghouse to determine if a borrower may be enrolled at another institution for possible student deferment. All other pertinent information is being captured for use in resolution of the default status.
The goal of our "Cohort Default Collection Team" is to reduce your cohort rate and continue to protect the institution's eligibility for Perkins.
Please contact us at any time to discuss this service or any other service that may be needed.
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