Student Success Mentor Assessment

1. As a default management company, what does CCS provide to the schools that have contracted with us? (multiple choice, multiple response question)

2. Our schools depend on the SSM to provide what types of mentoring to their borrowers? (multiple choice, multiple response question)

3. What sanctions may be imposed on a school if its default rate is high? (multiple choice, multiple response question)

4. Student loans are tracked during a specific period of time. What is that period of time called? (multiple choice, multiple response question)

5. At 90 days past due, what happens to the borrower’s student loan? (multiple choice, multiple response question)

6. What do many loan servicers offer when a borrower graduates, leaves school or drops below half-time enrollment? (multiple choice, multiple response question)

7. What are some of the consequences if a borrower defaults on their student loans? (multiple choice, multiple response question)

8. What is the one-time temporary program offered to borrowers whose federal student loans were in default prior to the COVID payment pause by the Department of Education (DOE)? (multiple choice, multiple response question)

9. What are the reasons that the SSM would contact borrowers? (multiple choice, multiple response question)

10. What is the web-based system that controls the queue, tracks productivity, and shows the status of the SSM? (multiple choice, multiple response question)

11. What must the SSM remember to complete at the end of every shift before leaving?

12. What Income-Driven Repayment (IDR) plan has recently changed to automatically transfer a loan to the SAVE plan? (multiple choice, multiple response question)

13. What system must always stay open from the beginning of the SSM’s shift to the end of the shift? (multiple choice, multiple response question)

14. What are some of the advantages of an IDR Plan? (multiple choice, multiple response question)

15. In Collect, the SSM can easily locate an account by entering which of the following? (multiple choice, multiple response question)

16. There are (2) types of identification that can be verbally accepted by the SSM before divulging any information about student loans and their account to the borrower. What are they?

17. What is the Champion website that the SSM should provide to the borrower at the end of the call?

18. The IDR Plan that CCS offers to borrowers is based on what two criteria?

19. Name the three (3) different types of forbearances and put them in alphabetical order.

20. Regarding IDR plans, fill in the blanks below.

21. What two types of student loans does Champion assist borrowers with?

22. What is the system that the SSM uses daily to send borrowers pre-filled forms via email?

23. What is the main system that provides the SSM’s daily To-Do List and allows them to access borrower account information?

24. Name the five (5) IDR Plans (including the new one and the one it is replacing) and put your answers in alphabetical order.

25. Fill in the blanks.

26. Before attempting to qualify a borrower for an IDR, deferment, or forbearance, what must the SSM ask the borrower before proceeding?

27. Which of the borrower’s accounts should the SSM work from in Collect?

28. To protect sensitive borrower information, what two things must the SSM do before leaving their desk unattended?

29. What is the name of the document that the borrower signs stating that they will pay back the student loan?

30. Regarding borrower bankruptcies, fill in the blanks.

31. What does WIP stand for in Collect?

Fill in the blanks.

33. What company collects payments, responds to customer service inquiries, and performs other administrative tasks associated with maintaining a specific borrower’s federal student loan?

34. What is the name of the Department of Education’s national database that contains all the student loan information?

35. Fill in the blanks.

36. The goal for our clients’ schools is to ensure that loan delinquency rates remain low.

37. Schools lose their Title IV funding if their default rate is over 30% for four (4) consecutive years.

38. Unsubsidized loans accrue interest even while the borrower is in school.

39. Student loan rehabilitation is a task that the SSM can assist the borrower with.

40. The borrower does not have to give permission to the SSM to receive information via text or email.

41. It is unacceptable for the SSM to receive a verbal forbearance from the loan servicer.

42. The borrower must pre-qualify for an IDR Plan.

43. An IDR is preferable over deferments and forbearances, so always try to qualify borrowers for an IDR first.

44. Interest accrues on both deferments and IDRs.

45. To qualify for an in-school deferment, the student must be enrolled a minimum of 3/4 time at an eligible institution.

46. The SSM creates notations in the Group Status tab in Collect.

47. The SSM is allowed to contact and speak with the borrowers’ references if the borrower cannot be reached.

48. The SSM should always rely on the time zone field in Collect.

49. Once the SSM has contacted a borrower, a 3-week follow-up call is scheduled.

50. SSMs handle jailed and deceased student loan accounts.

51. The Department of Education is the federal agency that establishes financial aid programs and processes financial aid applications.

52. RDT stands for Remote Desktop.

53. Total and Permanent Disability (TPD) can take up to six (6) months to process.

54. A deferment is always preferable over forbearances, so always try to qualify borrowers for a deferment before forbearance.

55. Please state the meaning of each Loan Status Code.