The performance difference: RepayReady lowered deliquencies by 30%

Reducing delinquency and default

In 2007, a group of student loan borrowers were introduced to the Electronic Loan Counselor (ELC), a component of RepayReady. This web-based application helped borrowers:

• organize their student loan debt,
• learn about repayment options and
• implement a strategy to successfully repay their loans.

Since its implementation, RepayReady and the ELC have been used by tens of thousands of borrowers who are transitioning to repayment. Both student borrowers and customer service staff appreciate its simplicity and guidance toward managing repayment obligations.

The impact on payment performance was staggering. Borrowers who used RepayReady's ELC were 30% less likely to go delinquent.