Image: by Jewel Caruso Anthony Jones (PhD 2019) chaired a national task force on the resumption of student loan repayment with the National Associate of Student Financial Aid Administrators (NASFAA) that released the Resumption of Loan Repayment Report. Jones also serves as the executive director of financial aid and scholarships at the University of Utah. This task force was convened in September 2022 with the purpose to help develop a plan for borrowers to start, either for the first time or again, repayment since the pause in 2020 due to the pandemic. This report has gotten significant interest and their toolkit was picked up and linked by CNN concerning an article prior to the Supreme Court ruling at the end of June. “It is our hope that this report and its accompanying toolkit will help financial aid administrators assist borrowers in being more informed and better prepared for successful repayment. The report highlights that borrowers along with their institutions and organizations need to be better prepared to raise awareness and how to properly communicate with their loan servicers. The potential effects for institutions in terms of calculations for cohort default rates and repayment rates are brought up as something to be considered as well. The toolkit contains a variety of informative and digestible content to use to spread awareness across organizations and institutions. “We hope this report facilitates strong partnerships with numerous colleagues to help provide effective information and support to borrowers preparing for student loan repayment.” The report created by Jones and his task force can be viewed here to share with your institution or organization to help the transition back into payments. Type of News/Audience: General News
