Financial Education News & Events



::Ready Set Repay Offers New Videos::

Ready Set Repay, the default prevention initiative of the Oklahoma College Assistance Program (OCAP), strives to help student loan borrowers make smart borrowing decisions and successfully repay their student loans. We receive a lot of questions about paying for school and repaying student loans, so we've developed and updated videos answering some of our most frequently asked questions:

These short videos outline specific steps to address these common issues. The videos are available on OCAP’s YouTube Channel  and on the Videos page  at ReadySetRepay.org. Feel free to share these videos or link to them from your website. 


::Oklahoma Money Matters Offers New Video: What Factors Determine Your Credit Score?::

Oklahoma Money Matters, the financial education initiative of the Oklahoma College Assistance Program (OCAP), strives to help people take control of their money and make positive financial choices. Learning to manage credit is a crucial piece of the personal finance puzzle, so we created What Factors Determine Your Credit Score?, a short video that explains the six basic categories that factor into your credit score and simple steps you can take to maintain a positive credit history.

The video is available on OCAP’s YouTube Channel and on the Videos page at OklahomaMoneyMatters.org. Feel free to share this video or link to it from your website. 

Credit Factors video thumbnail

 


::Fall into Financial Freedom: Schedule a Financial Workshop this Fall::

If you ask your students what “financial freedom” means to them, they’ll give an array of answers – some more defined than others. Help them find financial success by partnering with Oklahoma Money Matters (OKMM) to host a personal finance workshop. Not only will personal finance education help your students plan for life during and after college, it may also help them succeed in class and boost retention efforts on your campus. If you’re in charge of planning fall classes, seminars and workshops and agree that financial education is a critical element of student success, OKMM would love to help.

For 13 years, OKMM has provided relevant, engaging information and materials to help students make wise financial decisions. Our free workshops explore living on a college budget, saving money, understanding credit, preventing identity theft and managing student loans and financial aid. To complement our customizable presentations, we offer online learning modules, downloadable lesson plans and activities and access to free online tools and resources.

To schedule a workshop on your campus or request more information, contact Ava Doyle at 405.234.4488 or adoyle@ocap.org to discuss your needs. Workshops are subject to staff availability. Schedule yours today! 

 

 

::OCAP’s Partnership with Student Connections is an Investment in Student Success::

The Oklahoma College Assistance Program (OCAP) recognizes the impact default prevention has on the mutual success of institutions and borrowers. Helping schools excel in this area is what led Mary Heid, OCAP’s executive director, to work with Student Connections, a nonprofit affiliate of USA Funds focused on enhancing student success in college and career. Under Heid’s leadership, OCAP forged an arrangement with Student Connections to provide default rate management support to 26 Oklahoma campuses with CDRs (cohort default rates) above 10 percent. The agreement provides the schools with the ability to offer comprehensive grace period and default prevention counseling to their borrowers.

Since OCAP began working with Student Connections, it has seen marked improvements in beneficiary school CDRs. “Our schools all seem extremely happy with the service we’ve been able to offer them through Student Connections,” said Heid. “Our state CDR rate has been declining at a greater pace than the national rate, which makes us feel really good that our service is working.”

Student Connections grace counseling informs borrowers of all options, which may include a return to school. In all cases, the objective is to determine the course of action best for the borrower’s individual circumstances. Since the OCAP partnership with Student Connections began, students who underwent grace counseling were more than 40 percent less likely to enter delinquency on their student loans.

Whether it’s measured in reduced default and delinquency rates or in the hundreds of millions of cured federal loan dollars, it’s clear the OCAP-Student Connections partnership has helped preserve the value proposition of higher education in Oklahoma. As Heid says, “I think this investment in our students and institutions is rather unique, and we are very pleased that we’ve been able to do that with an industry partner that shares our vision of student success.”

Read more about the Student Connections-OCAP partnership at the Student Connections website.