1 marketing student loans reaching your customers, reaching your community cecelia dwyer –...

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Marketing Student Loans

Reaching your Customers,Reaching your Community

Cecelia Dwyer – Marketing Lead Kevin Moehn - Program Executive

June 6, 2013

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Promote iHELP Loans with your student loan customers using existing and some new

product promotion activities.

Keep these key customers banking with you.

Objective

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Agenda

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►The Basics of Private Student Lending

►The 3 Keys to Marketing to Customers

►College and High School Marketing

►Public and Community Relations

►Support Material and Available Resources

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Since 2008, there have been 2 million new jobs created for college graduates, but 200,000 fewer jobs for those without a higher education

The biggest decision an individual makes in determining their financial success is to pursue a college degree

College Graduates earn $1.5 million more than those with a high school degree

high

scho

ol

som

e co

llege

colle

ge d

egre

e $0

$1,000,000

$2,000,000

$3,000,000

high school some college college degree

Series1 -200000 1500000 2000000-250,000

250,000

750,000

1,250,000

1,750,000

2,250,000

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not

iHELP Private Student Loans fill a critical gap between the cost of college and other forms of

financial aid

Family Resources $8,000

Scholarships $2,500

Federal Loan $5,500

Private Student Loan $9,000

TOTAL COST: Tuition and Room & Board

$25,000

Sample Worksheet of College Financing

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Private Student Loan customers are often a bank’s best customers

Source: The College Board “Who borrows most?” 2010

0- 30,000 31,000 - 60,000 61,000-100,000 100,000+

$21,200

$29,800$32,700

$38,400

Private Student Loan Debt by Family Income Level

Family Income $

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The Keys to Student Loan Marketing

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1. Prepare for Peak Season–June, July and August

2. Establish a strong presence on your bank’s Website

3. Conduct branch training and promotion for successful customer engagement

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Student picks school

Applies to school

Accepted for 2013

school year

Fills out FASFA

Gets Award Letter

Identifies gap

Applies for private

loan

►Student loans have a busy season just like retailers have December

►The majority of applications come in between June and August when students & families are receiving and deciding on how to pay their tuition bill

NOW is the critical time for Student Loans

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Fall 2012 Jan 2013 Jan 2013 Apr 2013 June-August May 2013 Nov 2012

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Typical Monthly Application Trends

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June through August is Peak Season

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Strong Web Presence

► Your website is critical to drive applications Multiple locations is ideal Home page advertising all year - “learn more” “Apply Now” action button key in June, July and

August

►Outbound E-communications Email Blasts Newsletter articles

►Always use your bank’s unique customer URL to direct customers to iHELP

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Home Page Promotion

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Product Page Promotion

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Branch and Staff Training

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►Leverage your Customers’ trust in you

►Inform Staff about your involvement in iHELP

►Send customers to your Bank’s website with a custom link to iHELP for information and to apply

TARGET:

ParentsCosigners

Students Friends & Family

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Branch Marketing

► Build awareness in the branch Educate employees who engage customers Display posters, tents, brochures Scroll messages across branch TVs Incorporate into ATM Messaging

Goal: Have the staff promote and build awareness with individual customers about iHELP

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Branch Education

Branch Meeting:

The 3 Key points for customers:1)You offer a great Student Loan Program2) iHELP meets the GAP in funding college costs3) Where customers should go to get more Information and apply

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Brochures & Posters for Branches

Templates to co-brand

PostersBrochures

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Table Tents

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Materials Available for Branch Marketing

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►Branch Training Materials

►Brochures

►Table Tents

►Posters

►Banners

►Scrolling Messages for TV/Video

►Statement Stuffers

►Web Messages & Custom Web Content

►Web Banner Advertisements

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College/University Marketing

• Some colleges provide guidance on Private Student Loans through a “Preferred Lender List”

• Selections for a Preferred Lender List may require response to an RFP. iHELP will respond to the RFP for the Bank

• Let local colleges know your bank is interested in making student loans. Contact iHELP for help and to make a joint call

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High School Marketing

►High School College Nights/College Financing Nights are a great way to connect with students and families

► iHELP can provide supporting materials for High School Night type presentations

►Where ever you are promoting student banking products – cross sell iHELP Student Loans

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Public Relations

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►Joint Press Releases At sign up – “We now participate in student lending” At milestones – We made our first (100th) loan

►Scholarships Raise awareness $500 goes a long way for a local family

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Articles, Bylines & Joint Releases

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Pennsylvania Community Bankers Magazine ICBA – iHELP Joint Press Release

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iHELP Resources Available

► Individualized strategy and planning meetings

►Branch staff education/meeting support

►Marketing language for the web, banner ad templates & other communications

►Print material templates brochures, posters, tent cards

►Search Engine Optimization & Social Media support

►PR support – press releases, articles etc.

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iHELP Marketing Checklist

Website presence & language/logo update

Website promotion – banner ads

Branch education

Electronic communications to customers

Servicing communications to customers

In-Branch promotion

Collateral distribution

Local Colleges & Universities

Local High Schools

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Getting started…

Contact us for support requests Materials, marketing or school outreach

Wynde Walker

Program Associate

iHELP Student Loans

571-313-1405

wwalker@ihelploan.com

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► Lender Relations – Kevin Moehn, Program Executive

kmoehn@ihelploan.com

► Marketing Support – Cecelia Dwyer, Program Marketing Lead 703-447-8256

cdwyer@ihelploan.com

► Marketing Materials – Wynde Walker, Program Marketing Associate 571-313-1405

wwalker@ihelploan.com

► Borrower/Customer Questions – Student Loan Finance Corporation (SLFC) iHELP Private Student

Loan Servicing 800-645-7404

Contacts

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Questions?