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Rehabilitating Default Accounts
Coast will explore all avenues to rehabilitate a cohort borrower’s defaulted accounts. We fully understand that once a borrower crosses the 240-day threshold on a monthly billed account, or the 270-day threshold on a quarterly-billed account, it is imperative to work with the borrower to establish repayment options to remove the borrower from the cohort default rate.
Our representatives fully understand the cohort account collection process, as well as the fields of deferment and forbearance. They are trained to explain options to borrowers and to request necessary forms and information. If the representative ascertains the borrower may qualify for an academic deferment, total and permanent disability cancellation, or other benefit, the representative will refer the borrower back to the client for assistance.