Services
School Information
Our Services
Pantheon Student Solutions employs proven techniques as endorsed by Federal Student Aid’s Portfolio Performance Division and leveraged by the most successful default reduction programs. Our services are intended to enhance, not replace, existing borrower education services. For example, most schools already provide some sort of entrance and exit counseling, borrower education/financial literacy, student retention activities and job placement services.
These steps are all integral to a comprehensive default management plan and Pantheon can recommend improvements or additions to your school’s current offerings. Pantheon, however, will focus on post-enrollment activities: specifically, early- and late-stage delinquency assistance and skip tracing – services typically not offered by schools to their former students. We will work closely with the school and the loan servicer to ensure borrower account data is current and accurate.
Data Collection & Tracking System Entry
Pantheon will collect necessary student-borrower data from the financial aid department, the loan servicers and/or the loan guarantors. Information will be entered into the Pantheon Database for the entire cohort and maintained in a secure environment.
Early- and Late-Stage Delinquency Assistance
Pantheon takes all reasonable measures to prevent student-borrowers from entering delinquency and to assist them in bringing accounts current, or arranging for a forbearance or deferment. Our team employs several communications channels including physical, mailed communications, phone calls, text messages and emails. Pantheon Student Loan Counselors explain to the borrower his/her responsibilities, present options and shares consequences of default.
Grace Period Notifications
It is critical to ensure borrowers are contacted and repayment information is shared with them before they enter repayment. Pantheon contacts all borrowers via mail, phone, and email to remind them to start budgeting for their repayment date and provides loan servicer contact information. Preparing borrowers to make their first payment can reduce delinquencies and eventual defaults.
Default Management Reports
Pantheon will provide a monthly summary report for each contracted cohort including current status of each borrower’s account and calculation of the school’s ongoing CDR. The report also includes current delinquencies, delinquency resolutions and new accounts.
Skip Tracing
Pantheon takes reasonable and legal measures to locate student borrowers for whom no current contact information is immediately available. We leverage proprietary skip-tracing services to scour numerous databases and return potential phone numbers and addresses. We also contact references as provided by the school as necessary.
Existing Default Management Plan Consultation
Pantheon can review any current default prevention activities at your school and provide an assessment with recommendations for improvements or additions. Also, including Pantheon introductory materials in the exit interview process allows for a seamless transition and familiarity of our team as a resource for borrowers. This step is beneficial if and when a borrower needs to be contacted in the case of a delinquency.
Date Entered Repayment (DER) Report
It is critical that students are placed in the correct cohort, as circumstances often impact the original expected graduation date. Pantheon can review DER Reports from NSLDS and assist the school in making any necessary changes to borrowers’ status via NSLDS Enrollment Reporting. Actively correcting erroneous data can prevent a time-consuming, expensive appeal process later.
Review of Cohort Default Rates
Pantheon can review annual draft/official LRDRs (Loan Record Detail Reports) to ensure the CDRs are calculated based on accurate data. Pantheon will assist if any challenges, adjustments, or appeals are necessary.