The Student Loan Alliance (SLA) will be the preferred resource for borrowers challenged with excessive student loan debt to receive comprehensive holistic financial counseling, education and assistance.
The SLA identifies, develops and provides solutions to mitigate the national student loan crisis by promoting:
- Partnership – Facilitating private, non-profit and public partnerships to develop best practices,
- Borrower Outreach – Implementing robust borrower outreach campaigns to increase awareness, and
- Counseling and Education – Providing streamlined counseling and education that deliver sustainable solutions.
The Alliance consists of two types of members; core members and affiliate members who pay annual dues for SLA to provide supportive services.
Core Members represent sophisticated credit and student loan counseling organizations that have streamlined platforms to manage high volumes of consumer calls and are highly trained to assist borrowers in all facets of financial counseling. Organizations have centralized counseling platforms in which technology is best leveraged to effectively triage borrower requests, clearly identify the most ideal options for the borrower, and have a proven track record coordinating with loan servicers and creditors while maintaining a high level of customer service. Most of these counseling agencies manage a minimum of 1 million borrower counseling sessions per year. A limited number of national and regional non-profit counseling agencies will be selected to deliver education, counseling and assistance
Affiliate Members represent other organizations that are directly involved in developing solutions to address the student loan crisis and share in SLA’s core mission. They include:
- Lenders / Servicers
- Secondary Market Investors
- Industry Trade Associations
- Colleges and Universities
Non Profit Counseling and Education
Providing streamlined counseling and education that deliver sustainable solutions.
Providing multiple mediums for borrowers to submit assistance requests:
- National Toll Free Hotline to link borrowers with a credit counselor
- Borrower Portal – Provide an online application that promotes debtors self-submitting a request for assistance from participating counseling agencies
- Counselor & Servicer Portals – Providing a streamlined mechanism for servicers/investors to receive applications for request
- Comprehensive Educational consumer facing website
Implementing robust borrower outreach campaigns to increase awareness.
Comprehensive Marketing and Communications Campaign that includes:
- Social Media Campaign
- Radio and Print Ads and Interviews
- Links on strategic partner websites
Facilitate private, non-profit, and public partnerships to develop best practices,
Facilitate periodic conferences and working groups to improve the delivery of student loan default solutions; this may include:
- Publishing Industry Best Practices
- Promoting standardization between federal and private investor work out solutions
- Serve as repository for industry data
- Facilitate legislative/regulatory briefings
- Identifying a long-term funding model that supports independent counseling