Default Aversion

TSAC is pleased to deliver a new, innovative tool that will assist schools to proactively resolve delinquencies and reduce their cohort default rates. With limited time, and more demands on financial aid administrators, TSAC is committed to continue our efforts in providing value added services.

March 30, 2009, TSAC released Dollar Sensei. Dollar Sensei is a web-based program connecting schools to real-time information on delinquent borrowers. Schools have the ability to search electronically for current data on borrowers, based upon criteria determined by the institution. Dollar Sensei offers the following functionality:

• Utilize single sign on functionality with eGRandS or e*CLIPS
• Works in real-time
• Innovative technology to push out notices electronically to borrowers
• Ability to select borrowers based upon pre-determined factors
• Ability to run delinquent borrower reports
• Ability to download reports into an assortment of different file formats
• Electronically update borrower demographics
• Customize email blasts designed with institution’s information
• Mail merge functionality with pre-set letters
• Download tracking reports on communications sent to delinquent borrowers
• Ability to download default aversion letters

Financial Literacy

In conjunction with the default aversion feature of Dollar Sensei, TSAC has a new online financial literacy-training program for borrowers. Instructing borrowers on financial literacy is the basis for a good foundation on default aversion. Dollar Sensei provides practical education that is presented in a style that will engage and encourage active participation of students. Dollar Sensei provides the following for borrowers:

• Training modules on: Budgeting, Loan Repayment, Credit Cards, Credit Reports, and Identity Theft
• Interactive financial literacy quizzes
• Current financial news
• Budgeting Calculators
• Quick links to useful web sites
• Corresponding collateral materials

For more information, or to view a demonstration of Dollar Sensei, please contact Cathy Jones. Phone Number: 1.615.428.5741 or email: Cathy.L.Jones@tn.gov

Posted 04/23/09 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.