New tool helps prevent Student Loan Defaults

March 14, 2012 - PRLog -- 123taxcredit.com, a private company that provides taxpayers reliable receipt of entitled tax credit refunds, has introduced the Generate Awareness Program to assist Colleges, Universities and Student Loan Default organizations to promote successful loan repayment and reduce the risk of default.

"Providing students with funding is the proven best practice for reducing the risk of default," said Adam Zalka, President at 123taxcredit.com. "We allow schools and organizations the opportunity to provide students with funding that can be used to pay down existing student loan debt or get current on payments."

The Generate Awareness Programs offers schools and organizations the following benefits:

1. Financial Literacy for students and borrowers- Explanation and information regarding Education Tax Credits
2. Education Credit Refund Service- Provides 50% of students and borrowers with a reliable service to recover average education credit tax refunds of $1500 per enrolled year
3. Improved student and borrower relationship- Positive assistance towards a mutually beneficial goal results in fewer defaults

Several post secondary institutions throughout America have already adopted the program to assist students with reducing tuition costs. Many are utilizing the program in response  to new 3 year cohort default rate standards used to determine whether institutions qualify for federal assistance.  

"Several organizations have partnered with us recently as a direct result of the new 3 year standard. I asked one CFO what their primary need was in 2012, she responded "Help preventing defaults!" we'll start mailing previous students applications in April," said Zalka.

To date the Generate Awareness Program has been implemented at five Colleges and Universities serving 20 locations and over 15,000 current and previous students and borrowers.

For more information about 123taxcredit.com and the Generate Awareness Program, college administrators can visit www.123taxcredit.com, email info@123taxcredit.com
Or call 1.877.987.7237