Inceptia Awarded the State of Michigan Contract to Provide Student Loan Delinquency Counseling
Lincoln, Neb. (February 1, 2017) – Inceptia, a division of National Student Loan Program (NSLP), announced today that the State of Michigan has selected Inceptia to provide student loan delinquency counseling and financial education services to borrowers who are delinquent on their federal student loans.
The State of Michigan is partnering with Inceptia to conduct a one-year Loan Delinquency Management Pilot program to help Michigan borrowers currently delinquent on their federal student loans. The program provides free one-on-one counseling for borrowers. Borrowers work with a counselor to develop a repayment plan that will return the borrower to good-standing and help with continued successful repayment. In addition, borrowers are provided with financial education to assist in the creation of a budget and to better understand their credit score.
“Helping borrowers’ address their student loan delinquency is a priority for the well-being of our state,” said Anne Wohlfert, State Bureau Administrator for the Michigan Department of Treasury. “This program provides the assistance and guidance needed so Michiganders can follow a path toward financial success. When we proactively problem-solve student loan delinquency, our communities become stronger and more resilient.”
Wohlfert continued, “Michigan continues to take steps toward helping borrowers address their student loan delinquency, which is in the best interest of borrowers.”
To qualify for the program, borrowers must have federal student loans from a public or private non-profit Michigan higher education institution, currently be delinquent on their student loans, and agree to provide their credit score twice during the pilot period. The pilot runs from January 1, 2017, through January 1, 2018. To learn more about the program, borrowers can go to: www.loanassistmichigan.org.
“We are proud to work with the State of Michigan to offer our default prevention services to delinquent borrowers,” explained Randy Heesacker, NSLP president and CEO. “By using practical tools and personal attention, Inceptia educates borrowers on responsible personal finances and loan repayment, thereby working together with the State of Michigan to contribute to the borrowers’ success and create a stronger community.”
Inceptia, a division of National Student Loan Program (NSLP), is a nonprofit organization committed to offering effective and uncomplicated solutions in financial aid management, default prevention, and financial education. Our mission is to support schools as they launch brilliant futures for students, armed with the knowledge to become financially responsible citizens. Since 1986, we have helped more than two million students at 5,500 schools reach their higher education dreams. Each year, we help more than 160,000 students learn how to pay for college, borrow wisely, resolve their delinquency issues, and repay their student loan obligations. Our solutions are designed to support student success by helping financial aid administrators maximize resources, so they can spend more time focusing on students. More information at Inceptia.org.