University of Phoenix Provides Students Access to CFPB’s Path to Graduation Tool to Foster Smart Financial Decision-Making Around Paying for College

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University of Phoenix Provides Students Access to CFPB’s Path to Graduation Tool to Foster Smart Financial Decision-Making Around Paying for College
University of Phoenix Provides Students Access to CFPB’s Path to Graduation Tool to Foster Smart Financial Decision-Making Around Paying for College

PHOENIX–(BUSINESS WIRE) – The decision to go to college can be daunting, especially when thinking about how to pay for it. The University of Phoenix wants to ensure that all students have access to resources that will help them fully explore their options to responsibly plan and pay for their education. In addition to the financial planning tools currently provided by the university, students will now also be provided with a tool created by the Consumer Financial Protection Bureau (CFPB). The university believes that having access to various tools for students can help them be better prepared for the path ahead in their educational path.

This is the latest step in their longstanding commitment to student protection and study preparation. For the past decade, the university has contracted with iGrad to provide students with free access to an extensive range of resources and tools related to financial planning, responsible borrowing, and other general financial planning resources for saving, retirement, investing, and daily life. The university has embedded iGrad content into some of their introductory courses for students entering the university with 0-24 prior college credits. These courses include content on how to create a financial plan, borrow responsibly, minimize student loan borrowing, learn about your repayment options, and navigate the National Student Loan Data System (NSLDS).

In addition, first-year students can test the university free of charge before starting a course or several courses. Students with fewer than 24 college credits take their first course for 3 weeks with no financial commitment to see if the university suits them. If you choose not to continue, you go away at no cost to you.

In addition, the university provides each student with a Consumer Information Guide (CIG) at the beginning of the application process at the university. The guide provides information about the guidelines and requirements the university must adhere to regarding grants and federal compliance. Students have the CIG together with their catalog immediately available in their student web account. The CIG is available to students, prospective students and the general public at any time on the university’s website at phoenix.edu.

The university also provides students with the Department of Education’s College Scorecard. The scorecard is a compilation of key comparative information that students through the University of Phoenix can compare to other schools they may be considering. The scorecard provides work results and salary information for the university’s graduates by programs, as well as information about graduation rates, average loan debt, average monthly loan payments, and other information about the university. The scorecard will also be available on the university’s website.

The university also attaches great importance to the fact that its employees, including the enrollment officers, who are usually the first point of contact, correctly inform current and future students and prospective students. The university has a state-of-the-art call monitoring system that records and digitally analyzes the majority of calls with prospective students, current students and alumni, an average of 500,000 calls per month. The call surveillance system uses complex formulas to search conversations for a large and evolving list of words and phrases that focus on compliance, quality assurance, and other topics to identify potentially problematic statements. The system includes timely reviews of calls that allow immediate action to be taken to resolve information for students, as well as coaching, training or disciplinary action for university staff depending on the situation. This call monitoring and coaching system has been rated best in its class by government officials and has been used as a model for other institutions. The university does not include any mandatory arbitration clauses in enrollment contracts.

These are many of the ways the University of Phoenix works to ensure that students understand the college’s financial obligation, what payment options they have, and how to carefully plan the future for tax purposes to ensure a successful path to higher education.

About the University of Phoenix

The University of Phoenix is ​​constantly innovating to help working adults improve their careers in a rapidly changing world. Flexible schedules, relevant courses, interactive learning, and Career Services for Life® help students more effectively pursue their professional and personal goals while balancing their busy lives. For more information, visit phoenix.edu.

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