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January 24, 2013
Round Rock, TX — Texas Tech University has selected TG's HigherEDGE® Default Aversion Solutions to enhance the university's efforts at helping student loan borrowers stay out of default.
The new contract will allow TG's HigherEDGE default aversion counselors to contact Texas Tech student loan borrowers during the grace period before loan repayment begins, and also those borrowers who are delinquent but can still avoid default.
"We look forward to working with Texas Tech University in helping students understand the benefits of maintaining a positive repayment history, and assisting those borrowers who may be experiencing financial challenges in the repayment cycle," said John Zanot, TG's vice president of marketing and product management.
As federal student loan borrowing continues to rise, college and university administrators are mindful of loan delinquency and default. Today, schools are more at risk of potential loss of Title IV eligibility due to rules surrounding the calculation of cohort default rates, and must make certain their former student borrowers remain in good standing so that current students have access to federal aid.
"Texas Tech is already recognized as a role model in the financial aid and financial literacy industry. We believe HigherEDGE will compliment their existing programs," Zanot said.
"Texas Tech is committed to providing its students the needed resources to ensure their overall financial health," said Becky Wilson, Texas Tech University's senior managing director of student financial aid. "We feel TG's suite of default prevention services, including the personalized approach they take with borrowers, as the means to help them meet their repayment obligations after they leave our campus."
TG promotes educational access and success so that students can realize their college and career dreams. As a public, nonprofit corporation, TG offers resources to help students and families plan and prepare for college, learn the basics of money management, and repay their federal student loans.
About HigherEDGE Default Aversion Solutions
HigherEDGE Default Aversion Solutions is TG's suite of fee-based offerings that go beyond TG's existing school support services. HigherEDGE solutions provide school customers with outsourcing options that maximize efficiencies, reduce administrative burden, and are cost-effective. Additional information is available at www.HigherEDGE.net.