What actions does CVCC take to Manage Loan Default Rates?
• CVCC has an institutional policy that each enrollee’s aggregate limit amount on Title IV loans and other federal education loans (past and current) is $15,000. • Individual student loan balances are verified by using their Institutional Student Information Record and information on the National Student Loan Data System. • Students are required to fill out Student Loan Entrance and Exit Interviews. • Financial Aid office fills out all servicer’s requests for additional information on previous students using student files from both the Financial Aid Office and Departmental Files. • CVCC’s institutional policy of limiting the use of federal funding to tuition only, leads to lower amounts of student’s loans. • CVCC utilizes strategic disbursement dates on federal loans to ensure funding is earned. • We encourage students to only borrow funds that are needed, and emphasize that these are loans that will be required to be paid back. • We encourage our students to pursue all other avenues o
