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  MDHE Default Prevention Grant
   

Synopsis: 

Colleges and universities with high student loan default rates can lose eligibility for federal student aid programs.  The Missouri Department of Higher Education (MDHE) Default Prevention Program seeks to reduce the number of student loan borrowers who default on loans. 

In April 2012, Mineral Area College responded to an RFP from the MDHE Default Prevention Department and received a $5,500 award in July 2012 to fund default prevention activities. 

Activities:

  • Three mail campaigns in advance of student aid refunds that encourage borrowers to return excess funds;
  • Default prevention seminar to be held October 17 providing students with information about loan forgiveness programs, finance management, credit ratings and effects, etc.;
  • Research into the impact that  mandatory college success courses have on completion rates and cohort default rates;
  • Staff participation in MDHE Default Prevention Workshops to cultivate best practices.

Personnel:

Because default prevention activities affect several departments, a cross-departmental approach was taken to develop and implement the default prevention proposal, including:

  • Gil Kennon, V.P. of College Affairs
  • Jean Merrill-Doss, Student Affairs Dean
  • Russell Straughan, Business Manager
  • Denise Sebastian, Financial Aid Director
  • Kimberly Graham, Accounts Receivable
  • Pam Watkins, Grant Writer

Budget:

Line Item

Total Cost

 

Postage

$1890

 

Supplies

210

 

Copies

420

 

Travel

143

 

Food/Student Seminar

173

 

Personnel

2400

 

Fringe

264

 

Total

$5500