This is comical. Go to socleeducation.com and read the "case study" on how Socle was "called upon" to save CCi! Bahahahaha unbelievable! This company's ethics are represented right there in the introduction to who they are. Completely misleading for any potential client. The "about us" is worth a read too, but not quite as gag inducing.
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Several still believe that Socle is the GOLDEN CHILD!
Thanks, that explains it accurately and well.
(some history posted below - Socle was just CCi's student financial aid department changing their name in 2013)
I'll explain what Socle does. Student Financial Services (SFS) was started in 2009 as a centralized internal financial aid processing center. At the same time, CCi was about to be cut off from federal financial aid due to our default rates. A new department was formed under Kim Dean, the VP of SFS, to "manage" default rates. Articles have been written about how unethical we were in getting our rates down. Basically, when a student has a federal loan, there are several options available to help them stay in good standing. There are various payment plans that allow them to pay less in the beginning, based on the fact that many people start out their careers at lower wages. When a student chooses that option, they pay more in the end. There are also deferments, which allow the student to not make payments for a period of time and have the interest not accrue and get capitalized. Some deferment reasons are unemployment, underemployment, temporary disability, and financial hardship. Then each loan has a couple of years of "forbearance" which doesn't require a specific situation but does have interest accrue. CCi pushes all late payers into forbearance immediately. The student uses up their lifetime allotment of forbearance, interest has accrued on their loan that wouldn't have, but CCi has postponed their default so it hits after the cohort period that is tracked. In 2013, SFS became Socle and are aggressively selling our default management services to other colleges. I guarantee they don't realize that we are infamous for how we deal with this very area. ED will end it before long. Socle doesn't have a future. Sorry you guys had to take furlough when none of us did (a few IT in SA). In the end, we're going down too