Financial Resources: SALT
MSPP Teams Up with SALT to Teach Students and Alumni Money Skills for Life
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MSPP has chosen to join the nonprofit American Student Assistance® (ASA) in a movement to address the college affordability issue by revolutionizing how students and alumni finance and repay their higher education. Through a game-changing educational membership program called SALTSM, we're equipping students and alumni with money skills so they can reduce their student loan debt, improve student loan repayment outcomes, and increase their overall financial empowerment.
Frequently Asked Questions
Q: What is MSPP doing to make itself more affordable and ease student debt?
A: MSPP is committed to keeping its cost of attendance as affordable as possible through greater efficiencies; we recognize that many students and families must explore multiple options to pay for an education from our institution. We believe that all our students, families and alumni should have access to the most information possible to help them make wise decisions about financing and repaying their education. We have joined with the nonprofit American Student Assistance on a unique program called "SALT" to give our students and alumni the support they need before, during and after college.
Q: What is SALTSM?
A: SALT is a game-changing educational membership program that equips students and alumni with money skills for life so they reduce their student loan debt, improve student loan repayment outcomes, and increase their overall financial empowerment. Combining online and offline interactions, SALT delivers decision support, engaging content, and one-on-one loan repayment guidance in a simple, useful, and motivating experience. Through SALT, American Student Assistance aims to spark a movement to address the college affordability issue by revolutionizing how students and alumni finance and repay their higher education. This win-win approach helps students better manage consumer debt decisions after college; creates a financially savvier next generation of Americans; and enables former students to better engage in the consumerism that fuels the national economy.
Q: How much do students pay for SALT?
A: SALT is offered at no charge to the student or alumni.
Q: Who can benefit from using SALT?
A: Any college student or alumni who needs to become more financially savvy, whether they've borrowed student loans or not.
Q: How does SALT work?
A: SALT uses many different channels to educate, empower and engage members. The "surround-sound" program includes:
- Proactive communication about student loan repayment options
- One-on-one repayment counseling with student loan experts
- Personalized online dashboard to track all their federal and private student loans in one place and compare payment options
- Highly interactive Web financial education curriculum and other educational content, including the SALT blog – "Money Savvy for College and Beyond"
- Multiple "self-serve" Web tools and calculators to assist with budgeting
- In-person group financial education training at their higher education institution
- Advocacy and assistance with resolving complex student loan related problems
- Meaningful benefits and incentives that lower the total cost of college attendance such as scholarship services, job/internship searches, or discounts on discretionary items
Q: Where can students turn for more help?
A: Students and alumni can contact SALT member support at 855-469-2724 with any questions about their SALT accounts. If members have questions about their student loans, they should call a SALT loan counselor at 877-523-9473. Members can also follow SALT at www.facebook.com/saltmoney or on Twitter at @salt_money.
Q: How do students sign up?
A: Eligible members should receive an invitation email to sign up for SALT. Clicking on the personalized link in that email will take them to the enrollment page. Or they may sign up at www.saltmoney.org directly.
Q: Is their financial information safe?
Q: Who runs SALT?
A: SALT was created by American Student Assistance, a 56-year-old nonprofit that empowers college students and alumni to successfully manage and repay their student loan debt. ASA has had proven success in lowering student loan delinquency and default through its previous programs of proactive and targeted communication to student loan borrowers. Visit www.asa.org for more information.