Shaw University, Raleigh, N.C. This private, four-year university pursues a variety of activities to enhance student retention and curb student loan defaults. It conducted a survey during freshman orientation to identify students who were at risk of dropping out of school and in need of academic or social intervention. Based on the survey results, the university launched a pilot mentoring program. In conjunction with that program, the university also presented 27 financial literacy and financial aid workshops during the past academic school year to 625 students. The university also conducts face-to-face exit counseling sessions for graduating seniors to provide information about their lenders, various repayment options and information about the amount of debt that they have incurred while in school. Following graduation, Shaw University conducts aggressive communication campaigns to former students who have fallen behind in the repayment of their student loans. These efforts include contacting student loan borrowers, beginning when a former student is more than 30 days past due on a student loan payment, and conducting a monthly telephone blitz to reach borrowers whose loan payments are more than 180 days past due. As a result of these activities, Shaw University reports that its 2010 draft cohort default rate fell to 13.2 percent, down from its official 2009 rate of 22.6 percent. The award includes a $15,000 USA Funds grant to support student scholarships at Shaw University.
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