Informed Planning, Smart Borrowing, and Improved Support to Help Minimize Student Borrowing
Student debt in the U.S. continues to be at a crisis level, with about 44 million borrowers owing more than $1.7 trillion in student loans.* Regent Plan empowers higher education institutions to help students borrow responsibly and minimize debt. It does so by providing students with informed, dynamic financial aid planning aids, smart borrowing tools, and improved counseling and contact support throughout the financial aid process.
*Source: US Student Loan Debt Statistics
INFORMED, DYNAMIC FINANCIAL AID PLANNING
Enabling Students to Plan, Forecast, and Track Their Financial Aid
My Plan enables students to plan, forecast, and track their financial aid not only for the existing degree program or year, but also for upcoming ones by:
- Calculating total aid eligibility and out-of-pocket costs for a given program or year and providing an estimated monthly loan repayment plan for optimal decision making;
- Forecasting alternatives with “What if” scenarios like 'What if I go part-time v. full time?';
- Providing visibility into current and projected loan indebtedness as well as remaining eligibility to complete their program or year;
- Informing students of the aggregate loan amounts and their relationship to the maximums; and
- Automatically updating My Plan with actual post-enrollment awarding, progress, and completion.
Helping Students Borrow Only What They Need
My Borrowing extends from My Plan and helps students borrow only the amount of financial aid they need. It provides visibility into alternate financial aid packaging options such as Direct Costs versus Maximum Borrowing, so students understand the implications of each. In addition, My Borrowing helps students understand overall debt management for the financial aid year or program, so they can make optimal borrowing decisions.
COUNSELING & CONTACT SUPPORT
Improving Student Support Throughout the Process
While Regent's solutions enable student self-service, there are times when students may want to talk to someone about their financial aid. When they do, Advisor Assist adds improved support to the student experience and can reduce call times. It allows an institution’s financial aid counselors or call center advisors to view the student’s financial aid portal interface for real-time, interactive guidance and question resolution.