Could unsolicited email help solve the nation's student-debt crisis? The White House, at least, thinks it's worth a try.
With many of the nation's 17.5 million borrowers struggling to pay off their college debt—perhaps half of them, by one estimate—the Obama administration has been pushing new income-based programs that could reduce their payments.
One problem, however, is that relatively few borrowers are trying the programs. One solution being tested by the White House involves sending emails to borrowers to tell them about income-based repayment alternatives and inviting them to try out those options.
"Results of the pilot are promising," the White House reported in a blog post today. Sending emails to borrowers with student loans delinquent by 90 to 180 days led to a fourfold increase in completed income-driven repayment applications, administration officials said.
Read more at The Chronicle of Higher Education: http://chronicle.com/article/White-House-Tries-a-New-Tactic/148441