Concord, NH - The official Fiscal Year 2007 Cohort Default Rates have been released by The U.S. Department of Education. The New Hampshire Higher Education Assistance Foundation (NHHEAF), New Hampshire's leading student loan guarantor, maintained one of the best default rates in the nation at 3.1%, ranking 7th. The national average stands at 6.7%.

NHHEAF is dedicated to ensuring borrowers meet their student loan obligations and avoiding the negative repercussions of default. NHHEAF's default aversion team works diligently with families that may be struggling to stay on track with their loan payments by establishing one-on-one working relationships and assisting borrowers in finding alternative methods of meeting their student loan obligations.

July was a record month for NHHEAF's Claims Department having processed a total of 937 claims and averting $2.5 million dollars in defaulting loans. "The default prevention team has shown a true commitment to our customers as more and more need assistance in the struggling economy," said René A. Drouin, President and CEO of the NHHEAF Network Organizations. "Through utilization of alternative payment options and counseling them to successful loan repayment, our team has had a record year in assisting families in NH."

NHHEAF also works closely with New Hampshire colleges and universities to stress the importance of default prevention and sound money management with students through the Campaign for Financial Literacy, created in partnership with Consumer Credit Counseling Services of New Hampshire and Vermont. Through a series of free presentations, NH students have the opportunity to learn about the importance of managing their finances now and are given tools to help them achieve this goal. "Our entire staff is wholeheartedly committed to assisting our borrowers through successful loan repayment," said Christine Williams, Vice President of Guarantor Services. "Given the current conversations in Washington about the role and value of local student loan agencies, our success in assisting borrowers through successful repayment is especially significant."

To learn more about the default prevention and financial literacy activities NHHEAF supports, visit www.nhheaf.org.

The NHHEAF Network Organizations are comprised of four 501(c)(3) nonprofit organizations that provide students and families with the resources and funding to pursue higher education aspirations. Funds generated by the Organizations make their charitable mission possible as student loan earnings are reinvested in programs and services that benefit citizens of New Hampshire. For more information, visit www.nhheaf.org.

Posted 09/24/09 to www.NASFAA.org. Posting of press releases is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.