Proven Results:

  • A 50% reduction in early repayment defaults.
  • A 20% reduction in default prevention costs
  • Lifetime defaults projected fall by 30%.

lenders-intro

Many former students struggle with student loan debt after leaving your institution. How you help them manage that debt makes a real difference in your school’s financial stability, as well as your reputation.

 

At Loan Science, our commitment is to provide the technology and analytic solutions you need to maintain your institution’s Title IV eligibility. That’s why more than 50 colleges and universities of all sizes partner with us, including 8 of the top 11 for-profit universities in the United States.

Learn how we can help your former students improve their loan repayment performance.

Our Core Capabilities Drive Your Results

Data Management

Data Management

Our advanced data management capabilities, with an average deployment of only 45 days, give institutions a real jump start. Loan Science is the only resource that offers both off-the-shelf reports and custom reporting options as soon as a solution is deployed, with data security that sets the standard for industry-best practices.  See More »

Reporting

Reporting

Our data management solutions support all the student loan data available, including NSLDS, loan servicers, and your school’s student information system. Our standard reporting provides a wide array of key performance metrics by cohort year, as well as forecasting of future CDR performance. Loan Science reporting provides you with everything you need to uncover new trends and determine the best solutions for your borrowers and your business. See More »

Predictive Analytics

Predictive Analytics

Our data-driven methodology accurately predicts the default risks of every individual borrower, then determines the most effective way to reach each of these borrowers for optimal return – from early intervention through the life of the repayment. Since you’re reaching only the right people at the right time, your costs are lower while your customer relationships reach new levels of cooperation and satisfaction. See More »

Early Intervention Programs

Early Intervention Programs

Once our predictive analytics determine precisely when to reach out to your former students, our comprehensive call center approach deploys a targeted combination of messaging and communication channels tailored for each borrower to deliver your optimal ROI. Loan Science is continually innovating – providing our clients with more effective programs and methods to further improve performance while minimizing borrower stress. See More »

SOLUTIONS THAT DRIVE MEASURABLE RESULTS

You monitor Cohort Default Rate (CDR) data to maintain Title IV funding eligibility, manage your financial performance, and boost your school’s reputation for preparing students for successful careers. It can be a challenging task, requiring access to and understanding of all of the relevant data coupled with the best analytical tools available. That’s where Loan Science offers the edge you need.

 

Loan Science provides institutions of higher education technology and analytic solutions that enable students to better understand and navigate their way through the complex student loan repayment process. Whether used together or separately, Loan Science solutions help top U.S. colleges and universities enable their former students to better manage their student loan repayment obligations.

A cornerstone data warehouse solution that supplies all your CDR and gainful employment (GE) reporting needs, including business intelligence, default prevention operations, 3rd party servicer management and compliance management.

 

DataSolutions takes the vast information available from myriad sources and cleanses and organizes that data into one system. This enables schools to make better-informed decisions, more effectively manage the student loan repayment process and reduce defaults.

 

Creating a comprehensive data warehouse is a critical first step in mastering student loan management that most institutions are not resourced to handle themselves.

 

Key Features:

  • Easily integrates and organizes data from the National Student Loan Data Systems (NSLDS), multiple federal student loan servicers, and schools’ student information systems (SIS)
  • Institutions can be fully up and running in as few as 30 days, much faster and typically at a significantly lower cost than alternative solutions
  • Unlimited 24/7 access to your data at your fingertips
  • Accumulates extensive historical and time series data
  • Includes custom and ad-hoc CDR and repayment rate reporting
  • Provides many summary and drill down reporting options
  • Top level data security safeguards your institution and your students
  • Data is refreshed weekly

Once your data is brought together and organized, Loan Science analytics help you derive more value from that data across the student loan relationship.  Foresight™ is purpose-built for federal and private student loans and applies proven quantitative methods to identify trends, segment risks, build predictive models and forecast performance. This allows schools to optimize their outreach budget by applying it to students who need it most.

 

Key Features:

  • Accurately predicts which borrowers are most likely to default, before they become severely delinquent, providing insight for highly targeted and efficient outreach programs to maximize the return on your budget
  • Updates risk calculations dynamically as more information is obtained about borrowers, their payment activity, and other key data

This powerful program enables institutions to shed the burden of staffing, training, and managing a staff responsible for contacting former students and educating them about responsibly managing their loans. Loan Science’s Student Loan counselors will professionally contact borrowers on your behalf through targeted outreach and ongoing communications to reduce your operating expenses and default rates.

 

Key Features:

  • Includes education tools and materials that educate borrowers on the value of protecting and perserving their credit quality
  • Guides borrowers through specific loan options to find the best match
  • Utilizes advanced skip tracing tools to locate borrowers’ up-to-date contact information
  • Incorporates a variety of communication channels including email, direct mail, text, and phone
  • Leverages world-class call center telephony solutions to cost-effectively deliver exceptional results

This call center application efficiently deploys and manages all your default prevention activities.

  • Each call center representative’s computer screen presents a thoughtfully organized view of the borrower’s relevant loan and school information
  • Data about the borrower and their loans is dynamically updated as new information becomes available
  • Work queues for call center representatives are automatically set up and managed
  • Thorough records are compiled of all contact attempts and results, including follow-up dates and notes on previous interactions
  • Integrates transactions for automated dialing, email, voice messaging and SMS interactions
  • Targeted call center campaigns are created and managed through an administrative console

Benchmark how you’re doing against schools like yours

CONTACT US

Case Studies

Profile:

SCSLC Proactively Reduces Default Rates for 30 Schools

The EdManage Division of South Carolina Student Loan is a state funded program to help eligible schools reduce default rates. To accomplish the task and keep 30 schools informed, Client Relations Manager, Ray Jones needed robust data, campaign and reporting capabilities. Implemented in 2015, OneLook from Loan Science provided Jones with the loan information, reporting and campaign management tools to cut rate spikes by two thirds, reduce overall rates by 20% and eliminate stressful uncertainty.

 

Proposal:

— The OneLook call center application efficiently deploys and manages all of SCSL’s default prevention activities .

— Data Solutions provides frequent reports to check-in on performance and see the difference they are making in the delinquency numbers per school and agent activity.

— Targeted call center campaigns are created and managed through an administrative console.

Outcome:

After using OneLook for one year, Jones reported that the default rates for 2015 are about 1/3 of what the spikes were at this time last year for 2014.

 

Jones consistently keeps his clients up to date with rate forecasts and statistics. “OneLook makes my job much, much easier. I like to be able to see what’s going on and have that conversation with the Schools before the shock of them getting information that they didn’t expect,” he observed.


Download the entire case study here.

Profile:

A medium-sized, for-profit college faced a 30% increase in their cohort default rate over the previous year, despite working with a default prevention vendor. The situation was further complicated because the college did not know if they were paying a competitive rate for the vendor’s services.

Proposal:

Run a champion/challenger test with Loan Science competing against another new vendor. Include a risk-based assignment process and a monthly scorecard to track results.

Outcome:

The college’s default management costs decreased by more than 25%. Cohort default rates dropped 38%.

Frequently Asked Questions

Yes. We believe that the more data you provide, the better we can serve you. So yes, we love adding all the historical data you can supply.

We typically like to receive things like program of study, the type of degree being sought, matriculation and cumulative GPA. If you have specific metrics you want to monitor, just supply us the data and we’ll create a custom measurement for you.

New clients can typically expect to be ready to go within 45 days from the time they send us their data.

We do everything to support and optimize student loan portfolios including daily data management of each portfolio, reporting and analytics, pre-charge off collections, and management of charged off accounts. We rely on the base servicers to continue to send out statements, process payments and provide basic customer service. We find that leveraging Loan Science analytics and collections without disrupting basic borrower communication and payment channels is the optimal approach.

That’s a question best answered by our clients. We believe they’ll tell you that we’re unique in our student lending expertise, our commitment to putting client needs first, that we are highly responsive, and that we work in true partnership with them to solve their most demanding challenges. You’re more than welcome to speak to them directly – just ask us for contact information.

We find missing contact information through a proprietary skip tracing process that pulls data from multiple public and confidential sources, and combine the data with predictive analytics to build the most-probable means for contacting the student. We never obtain data from credit bureaus or where there is no permissible purpose as defined under the Gramm-Leach-Bliley Act (GBLA).

I'm a Borrower

If we’ve contacted you on behalf of your school, our goal is to help you get back on track – without pressure. Our services are always at no cost to you the student borrower. Click here to learn more »