Financial Literacy Services

The vendor required to provide Financial Literacy Services for include:
1. Default Prevention and Loan Counseling
•    Provide one-on-one counseling via phone or Live Chat with students.
•    Facilitate three-way calls with student and their loan servicer(s).
•    Utilize progressive skip tracing methods to reach out to students via multiple mediums (phone, emails, text, mail, etc.).
•    Conduct outreach to student borrowers during the six-month grace period within 30 days of withdrawal and graduation.
•    Conduct outreach to student borrowers who are delinquent on their loans beginning at day 30 and monthly thereafter.
•    Conduct outreach to student borrowers who have defaulted on their loans beginning at day 270 of delinquency and monthly thereafter; assist students with default rehabilitation.
2. Financial Literacy
•    Provide relevant, accessible, and high-quality online learning resources and tools for students on subjects such as banking and savings, budgeting, using credit, personal finance management, ID theft, student loans, debt management, and more.
•    Proactively engage students to help them borrow wisely and prepare for post-college responsibilities by understanding interest, loan repayment, and how to utilize FSA resources through studentaid.gov and NSLDS.
•    Provide personalized annual loan summary to students per Oregon state law (see SB253).
3. Data and Support
•    Provide access to data and reports on MHCC student borrower population, including borrower and loan information, outreach efforts and methods, borrowing and repayment trends, default rate projections, and more.
•    Utilize borrower data and trends to provide insight on the impact of default prevention and financial literacy efforts for student retention and completion.
•    Provide training and on-call support for college staff.
- Budget: $18,000 per year