New Report Outlines Policy Steps for Promoting Effective Student Loan Counseling

ROUND ROCK, Texas – Policy can and should do a better job of preparing students to responsibly navigate the federal student loan system. That is the central message of a new report from TG, in collaboration with the National Association of Student Financial Aid Administrators (NASFAA).

Effective Counseling, Empowered Borrowers, the fifth and final installment in a series of reports on student loan counseling, identifies specific policy changes that could improve current counseling efforts, thus better equipping students to navigate the sometimes-confusing borrowing and repayment process. The report draws from the previous four studies – which examined legislative history, research literature, the student experience, and promising practices – to suggest several improvements. For example:

These and other recommendations speak to a pressing concern in higher education. “The process of borrowing and repaying student loans can seem quite daunting to students and parents, so the earlier we can get information about college costs and paying for college into the hands of students and families, the better,” said NASFAA President and CEO Justin Draeger. “Tailoring the relevant information to the student will also go a long way toward making the process more streamlined and less confusing.”

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