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Notification to Colleges and Universities of Delinquent FFELP Borrowers
NCSEAA works closely with College Foundation, Inc. (CFI) to ensure that
borrowers in repayment of FFELP loans maintain their repayment responsibilities
in order to avoid defaulting on those loans. If a borrower becomes more than 60
days delinquent in the repayment of a FFELP loan, CFI notifies NCSEAA of the
delinquency and requests "default aversion assistance". This is a process
similar to what was previously known as "pre-claims assistance". A borrower's
defaulted loans could affect the default rate of the college or university the
borrower attended when he or she received the loans. This in turn may affect
the institution's ability to participate in Title IV federal student aid
programs. Therefore, colleges and universities may wish to be notified of any
default aversion assistance requests that apply to their current or former
students. A college or university financial aid office may contact NCSEAA to
make a blanket request to be notified monthly about such default aversion
assistance requests. Requests should be sent to the Director of Guaranty Agency
Services, NCSEAA, P. O. Box 14002, Research Triangle Park, NC 27709.
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