Margin test

The following article is a guest post from Paul Combe, President and CEO of Boston-based American Student Assistance. According to recent Experian research, student loans were the only type of consumer debt to increase during the recession, growing 84 percent from 2008 to 2014. Today, 40 million Americans carry college loans. The average borrower has nearly four different student loans for a total of $29,000. Keeping track of multiple loan payments and high debt can mean a rough financial start for newly minted college graduates. Evidence is mounting that student debt could be getting in the way of our economic recovery, as growing numbers of millennials delay forming their own households under the weight of their student debt burden. But amid all the student loan doom and gloom is this stark reality: higher education remains the key to unlocking the American Dream. It remains the surest path to individual prosperity and economic mobility. College graduates still enjoy far greater earnings and far less unemployment than those with no college degree. In fact, Experian’s data show 18- to 34-year-olds with student loans make an average annual income of $42,000, vs. $34,000 for all credit active consumers in the same age group. A college-educated workforce also contributes more in income tax, relies less on government-provided services, and overall helps the United States retain global competitiveness. In short, how do we reconcile these two things – the national need for a qualified, educated workforce on one hand, and on the other the need of the workforce to take on substantial amounts of debt to achieve that education? One answer is to teach students how to make the debt manageable. Sensational media coverage aside, student debt actually is controllable when students and graduates have the financial know-how, tools, and advice to cope with it. According to Experian, consumers aged 18-34 with at least one open student loan have credit scores 20 points higher than those without student loans, indicating that student loans can help build and establish credit for young adults. High scores also suggest that responsible student loan borrowing will potentially increase their scores and the ability to get credit in the future. At the nonprofit American Student Assistance®, we run a free-to-the-user educational resource called “SALT™” that provides students the money knowledge for college and beyond that they need to pay for and pay back college costs. SALT teaches three principles that all student loan borrowers, past and present, should live by: Borrow less. What’s the best way to manage debt? Not have it in the first place. That doesn’t mean you have to downsize your college plans or always go for the cheapest education possible. What it does mean is that you should exhaust all “free” financial aid, like grants and scholarships, before you turn to loans. Always fill out the Free Application for Federal Student Aid (FAFSA), even if you don’t think you’re eligible for any federal aid. And if you’re borrowing to cover costs of living in addition to tuition, fees and books, remember the old adage to live like a student now so you don’t have to after graduation. Borrow smarter. Not all student loans are created equal. Federal student loans offer very flexible repayment terms that allow you to suspend or lower your monthly payment in times of unemployment or economic strain. Private student loans generally don’t offer the same repayment rights. Be mindful of the type of loan you’re borrowing and ask upfront about the repayment arrangements. A general rule of thumb is to always take out federal loans first and turn to private loans as a last resort. Repay well. Your student loan choices don’t end at the application process. Federal student loans come with a plethora of repayment plans that you need to thoroughly research and investigate, from spreading out payments over the standard 10 years, to extending the payment term, to paying interest-only for the first few years, to basing payment on your income. Evaluate all your options before you begin repayment, and then be sure to evolve your payment strategy as your economic circumstances change over the years. Bottom line: Policy debates about college costs and the value of education will rage on for years, but we can improve our nation’s student loan situation right now by teaching student borrowers how to make smarter decisions along every step of the student loan process. Paul Combe is President and CEO of Boston-based American Student Assistance, the nonprofit creator of the free educational resource SALT™ that provides students with money knowledge for college and beyond.

Experian® chosen for its integration with Symitar, along with streamlined delivery and advanced real-time decisioning  Costa Mesa, Calif., September 8, 2014 — Experian®, the leading global information services company, today announced that American 1 Credit Union and Credit Union of Southern California selected Experian’s Decisioning as a ServiceSM for its Instant Prescreen service that identifies quality prospects for additional product offerings. The real-time instant prescreen (also known as prescreen of one) capability of Decisioning as a Service integrated with the credit unions’ Episys® system from Symitar provides an opportunity for the organizations to cross-sell to creditworthy members and improve business performance. The credit unions were looking for a service that was cost-effective, quick to deploy and easy to integrate and provides accurate decisions based on Experian’s vast data and analytical assets. “American 1 chose Experian’s Decisioning as a Service for instant prescreen because we were looking for an additional tool to help us increase our auto loan and credit card portfolios,” said Martha Fuerstenau, executive vice president at American 1 Credit Union. “We recognize that the key to achieve our goal was to empower the frontline and give them confidence to make that cross-sell while they are serving the members. Because of this new feature, American 1 has increased the number of loan applications that are generated from the account specialist team.” “It was important to have a seamless process in place at the teller line so that the member did not have additional wait time while the instant prescreen was being completed,” stated Dennis Wendorf, director of research and development at American 1 Credit Union. “By using Decisioning as a Service, our frontline is able to view whether or not a member is preapproved for an auto loan or a credit card with just a few clicks on the Symitar system.” “Experian continually invests in developing services that make a positive shift in the way our industry operates and give more options to consumers that enhance their credit profiles,” said David Proctor, vice president, Consumer Information Services, Experian. “The instant prescreen aspect is just one extension of our Decisioning as a Service product. The foundation of our service is the integrity of our data assets, deep analytics capabilities and the predictability of the scoring models, which, when they are combined, provide a powerful holistic decisioning tool that assists businesses in attaining growth and increasing profitability.” Experian’s Decisioning as a Service is an instant decisioning service engineered to help clients gain greater value from data and decisioning products. It does so by providing flexible, real-time access to more data sources, attributes, scores and analytics for key decision areas such as instant prescreen and credit underwriting. Visit our Decisioning as a Service and Instant Prescreen sites to learn more.

Experian Marketing Services, a global provider of integrated consumer insights, targeting, data quality and cross-channel marketing, hosted a fireside chat with U.S. Men’s National Soccer Team goalkeeper Tim Howard at its 2014 Client Summit. In the following video clip from that fireside chat, Howard discusses how he decides to align with brands that match his personal and professional image. Specifically, Howard describes the formula he uses to make business partnership decisions. “We try and look for a good fit,” said Howard. “There’s not always a blueprint for that, but it’s a feeling.” He continues, “I don’t want to lend my name to just any old company. I have put in a lot of hard work into my own brand, which is basically on the field, trying to be a decent guy and a good player.” A video of the entire fireside chat featuring Howard and moderator Rick Erwin, president of consumer insights and targeting at Experian Marketing Services, can be viewed on the company’s YouTube channel with this link: https://www.youtube.com/watch?v=T19JM3i-brY Insights and stories shared by Howard connected directly to the theme of the 2014 Client Summit, reinforcing the importance of storytelling for marketers and how brands need to deliver exceptional and authentic customer experiences. During the Client Summit, Experian Marketing Services also unveiled several new capabilities that will help marketers drive customer acquisition, increase brand loyalty and improve marketing return on investment. The biggest highlight was the announcement of the Experian Marketing Suite, a cohesive, end-to-end marketing capability that enables brands to deliver authentic customer experiences every time, in any channel and via any device. To watch additional Client Summit videos, including event keynote sessions, visit http://ex.pn/W8ktEQ.

At Experian, we have a firm commitment to social responsibility. We show that commitment through a broad range of efforts that help communities realize their social and economic potential by investing in community and education programs that foster the financial health of individuals and small businesses across the globe. As part of this commitment, Experian has more than 100 employees who are certified as Experian Education Ambassadors. These ambassadors educate consumers throughout the United States about credit reporting, credit scoring, fraud and identity theft and other issues in which Experian has expertise. Presentations take place at youth organizations, schools, colleges and universities, faith-based organizations – anywhere people gather and request information about these important subjects. Experian Education Ambassadors volunteer their time, often nights and weekends to support programs and events in the communities where they live and work. They do this because of the personal gratification they receive from helping others. They do it because they work for Experian, and people expect us to be able to answer their questions about credit reports and credit scores. Experian is also awarding thousands of dollars in financial literacy grants to non-profit organizations serving in need consumer groups including youth, minority groups, first time home buyers, military, and small business entrepreneurs become more financially literate and capable throughout their lives. Investment in Early Education And recently, Experian partnered with Ubuntu Education Fund (Ubuntu) in Port Elizabeth, South Africa, adding a new dimension of our culture of Corporate Social Responsibility at Experian. This partnership with Ubuntu included a donation of $15,000 to provide school supplies and educational development to children in the Port Elizabeth area, and parallels a nationwide school supplies donation drive across Experian’s North America region. Donations will go to local charity partners with the mission of improving education for underserved children. We believe investment in early education and development of youth is essential in any country to help give young people a strong foundation to succeed in life, This partnership with Ubuntu Education Fund, which will use our financial contribution to help not only provide basic education supplies, but also holistically care for children to give them a better chance of success. To learn more about our commitment to corporate responsibility go to: http://www.experianplc.com/corporate-responsibility.aspx

Experian Marketing Services, a global provider of integrated consumer insights, targeting, data quality and cross-channel marketing, gathered more than 1,000 top marketing executives from the world’s leading brands for the 2014 Client Summit. The event reinforced the importance of storytelling for marketers and how brands need to deliver exceptional and authentic customer experiences. During the Client Summit, Experian Marketing Services unveiled several new capabilities that will help marketers drive customer acquisition, increase brand loyalty and improve marketing return on investment. The biggest highlight was the announcement of the Experian Marketing Suite, a cohesive, end-to-end marketing capability that enables brands to deliver authentic customer experiences every time, in any channel and via any device. A video of the live unveiling and demo of the Experian Marketing Suite at the Client Summit can be viewed here: http://ex.pn/V2tgas The Experian Marketing Suite allows brands to accurately capture, link and enrich customer identities across channels while providing added intelligence to understand customer behaviors and preferences. Also included in the Marketing Suite is an Interactions Manager, which marketers can use to engage with their customers across channels an devices and then analyze and measure marketing performance. “This year’s Client Summit tapped into the heart of good marketing and provided our clients with a balance of inspiration, education and networking,” said Ashley Johnston, senior vice president, global marketing at Experian Marketing Services. “Our star-studded lineup of keynotes and educational panels left attendees with tangible and progressive strategies for becoming even better marketers and storytellers.” The 2014 Client Summit was held at The Cosmopolitan in Las Vegas, Nev. Sessions included a keynote address by Adam Savage, co-host of MythBusters, discussing the synchronicities of art and science and how they can make both creatives and technologists better storytellers; a storytellers panel featuring Grammy winner and hip hop icon Jermaine Dupri along with top marketing leaders from The Limited, ShoeDazzle and Red Envelope. The Summit also featured two intimate fireside chats — one with U.S. Men’s National Soccer Team goalkeeper Tim Howard and one with Michael Strahan, co-host of LIVE with Kelly and Michael and Good Morning America, analyst for Fox NFL Sunday and pro football Hall of Famer. Comedy Central, GameStop and Zappos also were among the main stage client spotlight presentations, with marketing leaders from those brands providing specific and actionable examples of how they have raised the bar on customer experience, engagement and impactful storytelling. A highly anticipated event each summer for marketers, Experian Marketing Services’ Client Summit recently was recognized with a Stevie Award for Best Tradeshow/Conference at the American Business Awards. This year’s event continued the tradition of excellence and was praised by attendees. “Experian Marketing Services’ Client Summit once again proved to be one of the year’s ‘don’t miss’ marketing events,” said Don Steele, senior vice president, fan engagement, multiplatform marketing at Comedy Central. “I had a great time networking with colleagues and peers and hearing from some of the world’s best storytellers. It was a fantastic time at a great venue, and I can’t wait for next year.” More information on the Experian Marketing Suite can be viewed here: http://ex.pn/1shO4pY