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Creating Consistency in Educational Finance: A Training Curriculum

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Module 1  

Want to know more about the Council? Contact Maria Luna-Torres at (800) 252-9743, ext. 4632, or send an e-mail at maria.luna-torres@tgslc.org.

Module 1: Customer Service Representatives

Introduction

It's been stated that student loan regulations are second in complexity only to IRS rules. Given this, customer service representatives play a key role in helping students and parents understand both basic student loan information as well as the nuances that can affect their decisions.

Customer service representatives are the face of the company they represent. They are in contact with borrowers throughout the life of a student loan, and more often than not this period covers a span of 10 or more years.

Exchanging information over the telephone can be challenging under the best of circumstances. Whether it's answering a specific question about the student's loan account or simply answering a general question, the conversation can get complicated. Representatives must be able to interpret, explain, and apply the rules affecting borrowers in everyday situations. They are expected to be knowledgeable not only about today's rules but those of the past as well. They must be cheerleaders, a sounding board, a friend, a resource, and a shoulder to cry on. And, all the while, they must be patient, calm, and reassuring.

Keeping in mind the challenges facing call center representatives, this module is designed to:

  • Present some practical customer service techniques that are designed to facilitate meaningful conversations with borrowers
  • Assist customer service representatives in becoming knowledgeable about the various repayment options that are available to borrowers. Through building a knowledge base about the rules and regulations affecting repayment, customer service representatives will be prepared not only to help address a borrower's unique situation, but also to maintain consistency in the information that is provided to all borrowers.
  • Provide customer service representatives with an understanding of the impacts that an adverse credit history can have on a borrower. By knowing and sharing this information with the borrower, customer service representatives can be more effective in creating a sense of urgency in borrowers to pay back their student loans.

Learning objectives

At the end of this module, you will be able to:

  • Employ proven skills and techniques for communicating with borrowers effectively
  • Convey the different repayment plans available to borrowers
  • Understand and apply regulatory requirements pertaining to deferments and forbearances
  • Counsel borrowers on the most appropriate repayment option based on practice scenarios
  • Convey the impact that an adverse credit history can have on a borrower

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