Outreach & Default Prevention
At FAME, we are committed to providing comprehensive outreach and default prevention services to students and schools throughout the State of Maine. Through our GOAL$ program, we provide our partners with valuable college access tools and resources, financial literacy and default prevention initiatives. In collaboration with our partners, our goal is to assist schools in reducing their cohort default rates and to implement a “best practices” approach to default prevention. In addition, we educate students and counselors regarding financial aid and responsible borrowing. Through a combination of these efforts, we hope to further assist Maine students and families achieve their educational GOAL$.
We have developed a comprehensive selection of presentations and training sessions
suited to meet the needs of a variety of audiences. From financial aid night presentations,
to early awareness sessions, FAME is committed to providing information to meet the ever-changing needs
of our customers at a location of their choice. The following list of available presentations is
a sample of our offerings and is not an exhaustive list. We are also happy to develop
customized training sessions to meet your needs.
- College Goal Sunday is an annual
program administered by FAME that offers assistance to Maine students and their families who are
in the process of applying for financial aid for higher education. College financial aid
officers and other qualified professionals volunteer their time to help college-bound students
complete the Free Application for Federal Student Aid (FAFSA), which is the required federal
financial aid form.
- 2007 Financial Aid 101 Training Materials is a free day-long
financial aid training session that is offered annually (typically in the fall)
for guidance counselors and advisors.
- Financial Aid Nights – designed to prepare high school students and their families for the
college financial aid process.
- Early Awareness – provides college access, career exploration and financial aid information to students in middle and high school.
- Lifeskills® - partnering with USA Funds® to provide money management, college financing and loan repayment information.
- “Get a Life” – an interactive financial literacy game created for middle and high school students.
- Financial Literacy – helping students gain an understanding of successful money management.
- Life Cycle of FFELP Loans – created to assist our partners in understanding the loan process.
- Identity Theft – intended to provide a variety of audiences on ways to avoid identity theft.
While providing in-person training and information is paramount, FAME has also created a host of
publications to educate schools, students and their families on a variety of topics. Through the
use of brochures and on-line resources, we hope to provide all of the necessary information needed for
Maine citizens to reach their educational goals.
- The Financial Aid Tool Kit – Maine’s guide for higher education financing.
- Planning a Successful Financial Aid Night – a brochure designed to assist counselors in planning a successful financial aid night.
- Scholarship Flyer – a two-sided flyer created to assist students in locating scholarship opportunities.
- Life 101 - A Magazine for High School Students.
- A Guide to Your Federal Loans – An overview of federal student loans available to college students.
- Stafford Loan Entrance & Exit Interview Checklist – a three-ply checklist designed to for use during entrance and exit counseling sessions.
- Locating Your Student Loans Brochure - intended to provide students with instructions on how to find information on their student loans.
- Teacher Loan Forgiveness Brochure – designed to assist teachers with understanding potential loan forgiveness options.
go to topComprehensive Default Prevention Program
- Default Prevention: Early Stage
Through our guarantee services, all schools in Maine receive the benefits of a comprehensive default
prevention program. Through this program, FAME provides early intervention to high risk borrowers before
they enter repayment. As a replacement to EDSI®, this service focuses on a reduction in the school’s
cohort default rate by automatically contacting high risk borrowers during their grace period.
As part of our GOAL$ program, borrowers are identified weekly through enrollment data reported from
FAME’s guarantee database; eliminating the labor intensive process of schools entering data.
Borrowers are contacted directly via phone, mail and email throughout their grace period and are
counseled regarding loan repayment options, lender/servicer contact information, along with the
consequences of default.
- Default Aversion: Late Stage
In addition to early intervention, FAME provides all borrowers with a premiere default
aversion program that targets students once they become 60 days delinquent on their loan payment.
Through this program, borrowers are contacted directly via phone, mail and email in attempt to
bring their loan into good standing. Delinquent borrowers are provided with a variety of options,
such as the ability to make automatic debit payments, alternative repayment options (graduated,
income-sensitive, interest-only) and lastly, deferment and forbearance options
- National Leader in Loan Recovery & Rehabilitation
FAME consistently boasts one of the highest loan recovery rates among guarantors nationwide. Through our
recovery efforts, borrowers who are in default on their Federal Family Education Loans can bring their
loans into good standing and as a result, avoid many of the negative aspects of default such as damaged
credit and loss of Title IV aid eligibility. At FAME, we believe that all defaulted borrowers deserve a
second chance and we have consistently provided borrowers with that opportunity.
- Borrower Debt Statements
We provide our school clients with the option of receiving individualized borrower debt statements.
These statements provide borrowers with information regarding their total indebtedness, as well as an
estimated monthly loan payment. Schools can customize how these statements are used; they can be mailed
following graduation or withdrawal either to the school, or directly to the student.
go to topFAME Model Default Prevention Plan for Schools
go to topUnderstanding Your Cohort Default Rate
FAME created this unique on-line tutorial to provide students with the information regarding alternative
loans and money management. Designed to enhance the education of the student; we actively involve them
in seeking out more favorable financing options
before they turn to alternative loans. At FAME,
we are committed to encouraging successful loan repayment and a key element in that effort is to educate students
on ways to avoid unnecessary borrowing.
FAME is a full member of Mapping Your Future®, which allows our school partners to tailor their online
entrance and exit counseling to meet their specific needs. In addition, colleges have the option to
receive and download valuable entrance and exit completion reports and statistics.
