Default Aversion Unit
At Pellissippi State Community College, the Default Aversion Unit (DAU) has one focus: to assist students who have federal student loans avoid delinquency and the consequences of default. Our mission is to provide students with information to better understand loan basics, repayment options, and financial literacy. Don’t know when your loan will become due? Worried that you cannot make your next monthly payment? Don’t know who to contact? The DAU team can provide you with servicer contact information, help you determine the next step, and if necessary, work with your loan servicer. Whether you are a current student with a concern or question about loan repayment or you are a former student experiencing some difficulties repaying your loan, WE CAN HELP YOU!
Your Guide for all things Student Aid Related
You CAN become well-versed in student aid. The world of student aid is complicated. If you are feeling frustrated, know you are not alone. YouCanDealWithIt.com provides practical advice about paying for college and managing your debt. This guide covers:
Student Aid 101
- The difference between grants, scholarships and loans.
- Understanding your award letter
- All things “Loan”: basics, types, your responsibilities, and hidden truths.
- Ways to pay
- Repayment plans
- Loan consolidation
- Loan payoff
- Changing Your Due Date
- Postpone Payments or Reduce Your Monthly Payments
- Explanation and Consequences of Default
Calculators & Resources
- College Cost, Budget Builder, Debt Repayment, and Grace Period Calculators
- Loan Repayment Estimator
- Access to other Online Resources
Dollar Sensei - Your Single Stop Resource For Financial Information That Makes Sense!
This is a vital resource that every student should look into and take advantage of! DOLLAR SENSEI is a totally FREE and all-encompassing financial information smorgasbord that will enable you to understand, plan, budget, and be pro-active for not only your Student Loan debt, but other financial obligations and goals. DOLLAR SENSEI contains interactive elements that allow you to “fill in the blanks” that are unique to YOU and YOUR individual situation, informative videos that clearly explain the many intricacies of student and consumer finance, and current articles and e-magazine links to help you stay on top and IN CONTROL. Don’t miss out on this treasure trove of FREE advice and information. Remember, free is good!
Determining Your Affordable Debt Level
The U.S. Department of Labor Occupational Outlook Handbook will give you information on anticipated earnings for a wide variety of professions. Based upon your anticipated earnings, charts are provided to advise you on the maximum amount of student loan debt which would be considered “manageable”.
The Department of Education enters into a contract with a servicers to service federal student loans. The Department assigns the loans to a servicer, and you are not able to select or change who services your loans. If you are not sure who your servicer is, you can access all of your federal student loan data at nslds.ed.gov.
PSCC Hosted Financial Literacy Webinars
We are pleased to be partnering with Nelnet to host a variety of webinar series each Monday at 2:00 p.m. and 4:30 p.m. May’s topic is Student Loan Repayment Tips. This session will give you information you can use to be better prepared to manage your student loan payments. You’ll learn how to develop a plan for financial survival, know what you borrowed, who you borrowed from, and who services your loans. You’ll also get information on the best repayment plan for your circumstances and how to avoid delinquency and default. approximate. To register for this and other webinar sessions, please click the link below and choose the session you wish to join by clicking the green session to register.http://www.nelnet.com/Money-Mondays/
PSCC Placement Office
The Placement Office serves our Pellissippi State students and the community through access to employment opportunities and preparing students for entering the workforce. We strive to bring our graduates and co-op students together with employers in order to meet the needs of each. http://www.pstcc.edu/placement/index.php
The Tennessee Department of Labor and Workforce Development is proud to roll out its Career Coaches...mobile center with services similar to what you might find in a Tennessee Career Center. These vehicles will arrive on the scene to provide a mobile computer lab and Internet access; create a venue for workshops including resume assistance and interviewing skills; and serve as a recruitment center for companies moving into our state. To check when the Career Coach will be in your area go to www.getonthecoach.tn.gov. For more Tennessee Career information and job search log on to Jobs4tn.gov.
Public Service Loan Forgiveness
Considering a career in Public Service?
You may qualify for forgiveness of any remaining balance on your eligible federal student loans thanks to the Public Service Loan Forgiveness (PSLF) Program.
This program was created by Congress to encourage individuals to enter and continue to work full-time in public service jobs. Under the Public Service Loan Forgiveness (PSLF) program, borrowers may qualify for forgiveness of the remaining balance due on their eligible federal student loans after they have made 120 payments on those loans under certain repayment plans while employed full-time by certain public service employers.
Interested? Review the requirements of the Public Service Loan Forgiveness (PSLF) Program at MyFedLoan.org/PSLF today to learn more!
Here are the most frequent questions we are asked. If you have a question, please do not hesitate to contact us using the information below.
Default Aversion Unit Contact
10915 Hardin Valley Road
P.O. Box 22990
Knoxville, TN 37933-0990