More informed students know when to reach out, meaning more opportunities to offer support throughout the student lifecycle. Whether it’s identifying issues or simply providing a stronger sense of attachment to the institution, the effect is a positive impact on student persistence.

Students that are in control of their financial futures can better manage their other priorities which leads to increased course completion, increased credits completed, overall persistence, and, interestingly, an increase in Grade Point Average – all contributing to greater retention rates that lead to degree attainment, a positive for both students and institutional revenue.

When used in conjunction with financial education programming, students leave school with more manageable levels of debt and a sense of empowerment to build financial wellness. For schools, this can contribute to future outcomes like improved Cohort Default Rates – a positive as schools face increased repayment scrutiny via resources like the College Scorecard.

Loan Summary satisfies state reporting requirements where laws have been passed requiring such communication.